Why Brand Is Your 1 in 4 Chance of Business Survival

Businesses rise and fall — it’s the natural progression of things. Many companies once considered great have long either collapsed or been overtaken by a fresh-faced challenger.

But, in spite of this, there are some businesses that continue to endure and thrive. They seem almost immune from the cut and thrust of competition. They are survivors.

So, why is that?

The business book that has had the most profound impact on me is “Zero to One” by Peter Thiel. The basic premise of that book is that great businesses are singular, unique and monopolistic.

These companies are almost impossible to copy, allowing them to totally dominate their industry.

In the book, Thiel outlines four rules for creating such a business. And they are as follows.

1. Proprietary Technology That Is 10x Better

Yes, that’s right — technology that’s 10 times better than the next best thing. A tall order.

But most people simply aren’t going to switch from their tried and tested product or service to something that’s only marginally better. What they’re after (though they may not yet know it) is a game-changingly better option. One that transforms how their specific need is met.