How to create monopoly at work?!

Four Strategies to Find Work Only You Can Do (and Why It’s More Profitable Than Ever)

  • Stage one of a career means getting competent at something. You get that first job whether it’s a newspaper route, bagging groceries, or your first job out of college—and you just want to be competent at it.
  • You want to get good at what you do. And so you get good at it. That’s stage two.
  • In stage three, you want to get paid well for it. This is a very normal career trajectory and has been for most of the twentieth century. It’s after stage three that most people stop.
  • There is, in fact, a final stage, and it’s the one monopolies, those high-margin, highly defensible behemoths are founded on.

 

  • We have industrial notions of boundedness around skill sets – It take a lot more time, but yields much higher rewards, to reach the point Scott Adams did—“I’m really good at drawing cartoons which satire corporate America” is not commoditazible.
  • If you take a mediocre entrepreneur with a mediocre product and you put him in a rapidly expanding market, she’s going to do ok. If you take an exceptional entrepreneur, with an exceptional product in a really terrible market, she’s probably screwed. As 80/20 guru Perry Marshall recently related to me: lots of dumb investors made money in the boom market leading up to 2008. Lots of smart investors lost lots of money in the crash. Market always wins.
  • Wealth is not fixed, but unlimited – there are hundreds of millions more people alive today than there were two hundred years ago and, on average, they are much better off than they were two hundred years ago—we can make more wealth, and have.
  • While the Industrial Revolution unleashed wealth creation, the internet has unleashed market creation in the form of the Long Tail.
  1. There are more markets than at anytime in human history.
  2. On the whole, they’re growing.
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