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My First Million

My First Million

The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.

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Build a multi-generational family business where family members work together and live in proximity

Families with complementary skills who want to build wealth together while maintaining close relationships

10-20 years

What Success Looks Like

Family members living in same neighborhood, all working in family business, kids playing together, successful exit while maintaining family relationships

Steps to Execute

1

Identify a business opportunity suitable for family involvement

2

Define clear roles for each family member based on strengths

3

Establish boundaries between family and business decisions

4

Create systems for conflict resolution

5

Plan succession and exit strategies early

Checklist

All family members aligned on business vision
Clear job descriptions and reporting structures
Regular family + business meetings scheduled
Conflict resolution process documented
Estate planning integrated with business planning

Inputs Needed

  • Family members with complementary skills
  • Sufficient capital for both business and real estate
  • Business opportunity suitable for family operation
  • Legal structure for family business

Outputs

  • Sustainable family wealth
  • Strong family relationships
  • Valuable business asset
  • Generational wealth transfer

Example

“Muscle Milk family: father, son, daughter all living in same cul-de-sac, each with defined roles in the business, built $450M company while maintaining close family relationships.”