Peter Thiel, author of the international bestseller Zero to One, said: “Of course, it’s easier to copy a model than to make something new. Doing what we already know how to do takes the world from 1 to n, adding more of something familiar.
“But every time we create something new, we go from 0 to 1. The act of creation is singular, as is the moment of creation, and the result is something fresh and strange.”
At this day and age, the rate of market saturation in our country has reached its peak; making it from difficult to nearly impossible to welcome something innovative, something dynamic, something original.
Moreover, the lack of contemporary world knowledge pertaining to business and product development, marketing, and distribution among business stakeholders today is responsible for there being no room for “0 to 1” ventures (or start-ups built through design-thinking based on a new idea).
Upon an interesting conversation with Tamzidul Islam Kanon, co-founder of Imago Sports Management, Bangladesh’s pioneer sports management agency, I got to know about the struggles he faced while establishing a “0 to 1” venture.
Instead of settling for less when the times are rough, the people behind a “0 to 1” venture must remember to stay focused
He mentions, “We did not have any mentor/enough resources to guide us. When we started the business, most people did not have a clear picture of a sports agency; corporate houses did not have sports management. We wanted sponsors, but for that we had to prove ourselves. We did not plan ahead of time. So, we grabbed every opportunity that came our way. It was the challenging at first, but now people come to us for our services.”
From what I understood, the reasons behind such unwelcome attitude about “0 to 1” ventures can be highlighted through the following key-point indicators.
Mirror effect of plagiarism
Plagiarism is a much-hyped issue in Bangladesh. However, the mirror effect of plagiarism is an even more alarming concern for us.
By mirror effect, I mean that when a person sees people in his surroundings plagiarize; he also gives in and engages in the same act. Funny how the incessant process of copying ideas through plagiarism resembles the vicious cycle of kleptomania, which, when happens once, is bound to repeat again and again.
Inability to plan ahead
Before venturing to start a “0 to 1” venture, what someone should really focus on is to have clarity on the distinction between what kind of work they are interested in doing, rather than taking every opportunity that comes along the way.
This will not only ensure quality, but also demonstrate an overall better portfolio of the company, thus, help in attracting better customers in the long-run.
50-50 responses while seeking promotion
The lack of awareness and minimal clarity among people in Bangladesh today, more specifically, the sponsors, make them wary of responding to new business ideas.
A reason for this could be that CEOs and MNC heads are neither investing enough to educate themselves, nor the same in training their employees; which results in 50-50 responses in coming forward to endorse a “0 to 1” venture.
Difficulty maintaining jobs
Due to the very nature of a “0 to 1” venture, it is extremely risky to choose setting up a company which does not ensure any profit, let alone the fixed cost of being invested over a job which ensures a fixed amount of money at the end of the month.
So, people are prone to do both things at the same time. This makes it very difficult to achieve results above par.
Probable solutions
Our curriculum is lagging behind in facing the challenge of plagiarism, which results in failed ventures of students upon graduation.
Failure to establish or even venture into a “0 to 1” start-up is a by-product of the performance of the students from this system. So, innovative solutions in developing our national curriculum will not only help eradicating plagiarism but also, result in more and better “0 to 1” projects.
Easy access to financing and advertising start-ups
By easy access to financing and advertising start-ups I mean, better facilities of loan disbursement from public and private banks, better endorsement opportunities from top companies, and better response to innovations.
All of this can go a long way for the mutual benefit of both the start-up and the stakeholders endorsing them.
Guidelines from prominent leaders
Sometimes, just enlightening ourselves from the commentaries and quotations of prominent leaders can be a good source of motivation. I would like to mention two regarding the same.
Jack Ma, the richest man in China said: “If you put bananas and money in front of monkeys, they will choose bananas because monkeys do not know that money can buy more bananas. In reality, if you offer job and business to people, they would choose job because most people do not know that business can bring more money than salaries.
“Profit is better than salaries because salaries can make you living but profits can bring you a fortune.”
Sir Fazle Hasan Abed, founder and chairperson of BRAC, the world’s largest NGO said: “There is only one life to live, and if you can leave something behind in terms of improving other people’s lives -- improving the world in whatever small way you can -- that is what I look for. That is what drives me.”
At the end of it all, the core of a “0 to 1” venture lies at the sustainable focus towards accomplishing the aimed goals. Instead of settling for less when the times are rough, the people behind a “0 to 1” venture must remember to stay focused, determined, and resilient to achieve their goals.
The tendency to give in during a storm is only safe at the surface level, otherwise, it’s nothing more than being subsided and shore-lined towards profound depth.
Maisha Mehzabeen works at the Dhaka Tribune and is a graduate in economics.