Peter Thiel’s Advice For Entrepreneurs

Here are 8 tips for entrepreneurs from Peter Thiel ,co-founder of Paypal, entrepreneur,venture capitalist and hedge fund manager.

1. Do not sell your company too early.

2. Find your niche. Don’t try to revolutionize an entire industry like “health” or “energy” straightaway. Start with a project that helps a small group of people.

3. Make sure that the money that your company earns is re-invested in the company.

4. Talent is everything. Work with the best. If you are the smartest person in the room, leave the room.

5. Entrepreneurship is about resilience and resourcefulness. Be an optimist!

6. It’s not sufficient to be incrementally better than your competitors. Online, competition is global.

7. Work hard. But more importantly make sure you work on the right thing.

8. Combining two words works well for branding: face-book, pay-pal.