“Choose Your Enemies Wisely by Patrick Bet-David”
A great book for entrepreneurs who are already running a business or hoping to become one. This book will show you how to choose an enemy and leverage that emotion to build the right business plan.
10 lessons from the book 🧵

1) The most critical element for success in business planning is choosing your enemies wisely.
Use the fuel from your enemies to create business plan that is emotional, logical and actionable.

2) 12 Building Blocks for your Business Plan:
Enemy and Competition:
Enemy - Who you want to Beat
Competition - Market Analysis
Will and Skill:
Will - Need to succeed, Heart
Skill - Knowledge, Expertise
Mission and Plan:
Mission - The problem you are correcting, cause, crusade
Plan - Detailed set of actions
Dreams and Systems:
Dreams - What you are aiming to get for yourself & family
Systems - Protocols and Analytics
Culture and Team:
Culture - Want to run through walls
Team - Key people
Vision and Capital:
Vision - Values, principles, and envisioned future
Capital - Raising money, valuation

3) The most important data for you is found in the year that just passed.
In order to predict the future, you have to study history.

4) Choose enemies that give you energy, not drain your energy.
The most powerful enemy are that drive winners:
"People who are beating you because of their vision and accomplishments are greater than yours."

5) Three Rules for Meetings According to Jeff Bezos:

6) Learn the Dream Language: Imagine if one day. . . .

7) Goals are the specific outcomes we aim for on our way to achieving our dreams.
Effective Goals:
- Specific
- Measurable
- Have a deadline
- Rewards in place

8) Culture is having people wanting to run through walls for you and your organization. It is believing so much in a vision that people will do their best when no one is watching.
But you need to take care of your team. If you are going to drive people hard, they'd better feel five things:

9) Business plans and start-up businesses have much in common.
People get caught up in the details, the presentation, and the technology, but what matters most is the people.

10) Four Rules for Elevator Pitches for Your Business:
- Understandable
- Quantified
- Succinct
- Compelling

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