1. Become financially independent quickly doing simple things. Create low amount of value quickly and capture low % of it. Preferably create passive source of income.

2. Become financially abundant for life. Create high amount of value, quickly or slowly, and capture high % of it.

When you make breakthrough and invent or introduce something new you made a 0 to 1 improvement.

When you improve something already existing you made 1 to n improvement.

1. It's better to risk boldness than triviality.

2. A bad plan is better than no plan.

3. Competitive markets destroy profits.

4. Sales matters just as much as product.

Businesses are almost always in perfect competition or in monopoly. Example of perfect competition is air industry. And monopoly is google search business with 77% global market share. In perfect competition there is low profit or none. In monopoly profit is large.

Ways to create a durable monopoly:

1. Proprietary technology.

2. Network effects.

3. Economies of scale.

4. Branding.

Every employee needs to have a strictly distinct tasks.

Viral marketing - every customer brings in at least 1 new customer. Exponential growth. 

2. The Timing Question.

3. The Monopoly Question.

4. The People Question.

5. The Distribution Question.

6. The Durability Question.

7. The Secret Question.