- At their beginnings, and because people initially thought that they had no use for the digital currency, Paypal pay them $10 for signing up and another $10 for a successful referral. Although the strategy was unsustainable, they gained millions of dollars.
- After the bubble, entrepreneurs focused on these principles in keeping a business:
- Make incremental advances. Play it safe and start small.
- Stay lean and flexible. Instead of sticking to a business plan, make your company experiment on whatever comes up.
- Improve the competition. Find existing customers and create our company based on their needs and make yours better than the other businesses.
- Focus on the product, not the sales.
The following are far more effective:
- It is better to risk boldness than triviality.
- A bad plan is better than no plan.
- Competitive markets destroy profits.
- Sales matter just as much as product.