My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
Constraints-First Decision Making
Start any major decision by clearly defining your constraints rather than exploring all possibilities
Decision Rule
Before evaluating options, list all your real constraints (capital, geography, time, expertise, risk tolerance) then only consider options within those boundaries
How It Works
Prevents decision paralysis, focuses effort on viable options, and ensures solutions fit your actual situation rather than theoretical ideals
Failure Modes
Being too restrictive and missing good opportunities
Not revisiting constraints as situations change
Confusing preferences with actual constraints
Using constraints as excuses to avoid taking action
Example Decision
“Before searching for businesses to buy, define constraints: maximum 2-hour drive from home, can invest $200K maximum, understand the industry basics, then only evaluate businesses meeting these criteria”