Sunday, October 23rd, 2016
People with sucessful businesses have a contrarian mindset. Most of the people are moving in one direction, and they move in another. This is vital, because it is very hard … almost impossible, to create and capture extraordinary value without going against the market … without buying low, when people think it’s garbage, and turning it into something that’s valuable … by doing things that other people think are worthless, impossible and stupid, and turning them into valuable, possible and smart.
These people can see hidden value in situations where others do not. They then use that perception to successfully develop valuable products and services that customers usually initially don’t think they want, and ultimately go on to realize extraordinary value for themselves.
What make these people different is less a matter of who they are or what resources they have than of what and how they think.
If everybody looks at you like you’re crazy when you tell them your business idea, congratulations; truly successful ideas are often at first considered ridiculous by the majority of the public.
Summing-up: In order to create and capture extraordinary value, you almost always have to be contrarian. You enter the market when everyone else is leaving.