Beginning his work with a flattering letter addressed directly to the Magnificent Lorenzo Di Piero de’ Medici, Machiavelli clarifies his intention to offer his knowledge and advice as a gift to the prince. He points out that while others may offer gifts such as horses, arms, and precious stones to princes, his most valuable commodity is “the knowledge of the actions of great men, acquired by long experience in contemporary affairs, and a continual study of antiquity” (xvii). Although his present condition is low and humble compared to that of a prince, Machiavelli argues that it is from the lower social status that people have the best perspective of those above, just as a prince has the better perspective on the nature of the people below him. Machiavelli concludes the letter by acknowledging his desire that the prince attain greatness and take pity on him because he has unjustly suffered “a great and continued malignity of fortune” (XVIII). 

The very brief opening chapter begins by stating that “all states, all powers, that have held and hold power over men have been and are either republics or principalities” (1). Those states which classify as principalities are either hereditary or new.