Master Your Mindset #15
Defining the Zero to One Mindset
For entrepreneurs, the zero to one mindset is a prerequisite and one of the most exciting parts of the process of building a company. It is the process of bringing an idea into reality by bringing something that only exists in your mind into physical reality; from nothing to something.
While taking leaps in your businesses is a great feeling and what intrinsically leads to its success and extended lifespan, that growth could never be possible without first going from zero to one. In the business world, we can grow horizontally or vertically, but both growth factors rely first on going from zero to one. Many almost entrepreneurs never realize their dream because they cannot get from zero to one. While having a plan is important for success, many people fail to start due to overplanning.
Peter Theil, the world-famous investor, wrote a book, Zero to One, which defines zero to one differently than I do. To Peter, a standard business whose technologies or processes rely on infrastructures that already exist is like going from 1-10. In his book, he defines zero to one as coming up with a completely new product or service not currently available on the market. He discusses the differences in horizontal versus vertical growth and the controversial opinion that monopolies are actually good for the economy because they drive innovation. Check out next week’s Master Your Mindset #16 for the Monopoly Mindset.
Who is Peter Thiel Anyway?
Peter Thiel is another one of my favorite futurist mindset entrepreneurs. Thiel, a serial investor, business founder, and CEO was the first outside investor of Facebook, and a co-founder of PayPal and Founders Fund to name just a few. Amongst his many ventures, Thiel also makes time to be very outspoken about his political beliefs and often unconventional mindsets. He is forward-thinking and has the kind of mind that helps drive innovation and certainly entertaining conversations. Some of our upcoming greatest advancements will be in the area of AI and longevity and Peter has his finger on the pulse of both.
Horizontal Growth:
Intensive growth that focuses on radically new technologies not currently available on the market.
Vertical Growth:
Extensive growth that focuses on replication and scaling such as building on a product or service that already exists or bringing it to other industries or markets.
Importance of a Zero to One Mindset
Whether you define zero to one as coming up with a completely new innovation or merely taking the first step toward an idea, task, or dream, having a mindset of bringing thought into physical reality is one of the greatest gifts humans have and one that is essential for success, evolution and pure enjoyment of life.
-Christi McAdams