The Star Principle: How it can make you rich

TRIGGER 13. MASCULINE VERSUS FEMININE

Step 2: Select a high-growth niche.

Wilful ignorance is one of my best investment tools. I don’t want to know too much before making an investment. I don’t want to cloud my judgement, or make the decision difficult. I don’t want to know about all the risks or understand them. I just want to be reasonably sure that it’s a star business. That

To launch a star venture successfully, three conditions must apply. 1. Your target customers want something different from the main market. 2. You understand what it is that they want and can provide it with a new product category. 3. The new category can be supplied profitably, because you can charge more for it, and/or because you can subtract el

It’s not as unusual as you might expect to find a hole in the market - even a market as big and profitable as gin. Seek a hole and sooner or later you will find one.

Step 6: Name the niche you plan to lead.

TRIGGER 31. IDEAS FROM OTHER INDUSTRIES

About 1 in 20 start-ups is a star. So stars are rare. But they are not so rare that, with a bit of patience and careful thought, you can’t discover one - or create one yourself. If you look intelligently for a star, you will find it.

We cannot create a new star without creating a new category. The new niche must be oriented towards the target customers and must offer a sharply different basket of benefits from the main market. The more the benefits of the new category vary clearly and substantially from the existing market, the greater the chance that the new venture will fly.