It matters more which direction you go, than how fast you go.
It’s key to spend much more time on assessing which opportunities to pursue.
A great business has 5 things:
1) A demand supply discrepancy – where demand exceeds supply.
2) A growing market
3) Large market – high volume or high value
4) The ability to use leverage – technology, finance, people, or content or a mixture of them to achieve more with less.
5) A moat – defensible advantage that others cant easily copy, or that grows stronger over time.
– Switching costs
– Cost advantage with economies of scale (distribution, business complexity solved)
– Brand
– Economies of scale
– Government license or support
Additionally
6) A strong mission and culture can be an advantage
