- You need to generate profits. A company will only be as good as its profits in the future.
- What does a monopoly with a substantial cash flow looks like? It may have two or more of this properties:
- Proprietary Technology [that's impossible to copy]
- Network effects
- Economies of scale
- Branding
- Choose a market and gradually scale up.
- If you think that your chosen market is too big, you're almost always right.
- Avoid "disrupting" existing industries. It is always better to develop a new market
- Be the "last mover". Remember that you're not in competition.