My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
Project Selection for Learning and Relationships
Choose projects based on skills you'll develop, knowledge you'll gain, and relationships you'll build, rather than just potential outcomes, so you benefit even if the project fails
Decision Rule
Before committing to any project, ask: What skills will I develop? What knowledge will I gain? What relationships will I build? Will these benefits justify the time investment even if the project doesn't achieve its primary goal?
How It Works
Most projects have uncertain outcomes, but the learning and relationship benefits are more predictable. By focusing on these guaranteed returns, you reduce risk while building capabilities that transfer to future opportunities
Failure Modes
Choosing projects only for learning without considering practical outcomes
Overestimating the transferability of skills from pet projects
Using learning as an excuse to avoid projects with real stakes
Not actually extracting and applying the lessons from failed projects
Example Decision
“Tim chose to create a board game with Alan Lee not primarily for profit potential, but because he'd learn game design, develop a friendship with a world-class creator, and be forced to incorporate more play into his life - all valuable regardless of commercial success”