Author - Peter Thiel, co-founder of PayPal and an influential entrepreneur and investor.
Try to create something entirely new rather than being a competitor in already existing field.
Try to achieve monopoly otherwise, competition will eat your margins.
Adopting technology early on gives you a wider reach and effective flow in your business, if not you'll be left behind by the ones who adopt it.
Every market has ups and down trends don't chase those distractions focus on efficiency and stick to your goals
Stay away from the herd don't follow the masses be unique in your ideas and proceed in your way.