By Derek Fronczak
Here are 5 more extremely useful quotes from Peter Diamandis’s book Bold to use in business—and life.
“The ratio of something to nothing is infinite.”
This is what the title of Peter Thiel’s Zero to One is all about. The jump from 1 to 2 is incremental; the jump from 0 to 1, on the other hand, is immeasurable.
Seth Godin addresses this idea as well. In his free podcast series, Seth Godin’s Startup School, he talks about crossing the chasm from free to paid apps. People willing to pay $1 for an app are much more likely to pay $2 for an app than people downloading for free versus paying $1. The price difference is exactly the same, but the psychology is vastly different.
Crossing the chasm from nothing to something is the hardest barrier in any venture.
“An expert is someone who can tell you exactly how something can’t be done.”
Bureaucratic stagnation is a plaque. Companies get bigger and bigger, bringing on more and more experts, and invariably they grind to a halt and are surpassed by a leaner, more nimble organization. This cycle repeats itself again and again.
The few companies that buck this trend seem to have a couple things in common. 1) Their company culture is built around an unquenchable quest for innovation. 2) They possess the humility to know it’s a journey, not a destination. There’s no such thing as “making it.” The best companies try to put themselves out of business—before someone else does it for them.
This quote also illustrates the idea of The Beginner’s Mind. Beginners can be much better at finding ingenious solutions to problems because they are not bogged down by the rules and regulations of an industry. Keeping a beginner’s mind—even after becoming an “expert” at something—is paramount to ongoing success.
“Multiple projects lead to multiple successes.”
The average millionaire has seven different sources of income. Seven.
Almost all successful investors agree on 1 principle: diversification. Putting your eggs into many different baskets allows you to hedge your risk and creates more chances of having a runaway success.
The same is true in any venture. Multiple projects can not only lead to unforeseen synergies among themselves, but also lead to multiple successes.
“Start at the top, then work your way up.”
Competition at the top is much thinner. Director Robert Rodriguez gave a perfect example of this on The Tim Ferriss Show podcast. He talks about starting a TV channel, El Rey Network, rather than trying to create a single TV show. Hordes of people pitch TV shows every year. Conversely, very few people are trying to start their own channels.
Start at the top—then work your way up.
“Do it by the book, but be the author.”
It’s important to learn the rules of the game. No matter what game you’re playing—business, writing, math, etc.—it’s important that you understand how the game works. Knowing the rules is a prerequisite to making your own improvements.
SpaceX is a perfect example. Prior to founding the company, Elon Musk learned everything he could about rocket science. He learned the ins and outs of what it takes to build a spacecraft.
Only after this important first step was he able to dramatically cut manufacturing costs and successfully launch the first private spacecraft company.
First learn the language—then write your own book.
Boldly pursue your dreams.