Knowledge Marketplace
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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Clearly communicate your competitive advantage in a way investors immediately understand

Any founder who needs to explain how they're different from existing solutions

1 hour to research competitors and formulate differences

What Success Looks Like

Investor finishes reading and thinks 'ah, I see exactly how this is different and why that difference matters'

Steps to Execute

1

List all current ways people solve your problem

2

Identify the core approach most competitors use

3

Articulate your fundamentally different approach

4

Explain why your approach is better (not just different)

5

Use simple 'Others do X, we do Y' framing

6

Focus on strategy differences, not just features

Checklist

Difference is strategic, not just tactical
Clear why your approach is better
Avoids feature laundry list
Focuses on business model, product strategy, or growth strategy
Makes competitor approach sound obviously inferior

Inputs Needed

  • Competitive landscape research
  • Clear understanding of your core strategy
  • Knowledge of why alternatives fail
  • Insight into your unique advantages

Outputs

  • Simple 'Others X, We Y' statement
  • Explanation of why your approach works better
  • Strategic positioning vs competitors
  • Memorable differentiation story

Example

“Sleep app: 'everybody else tries to solve this problem with pills, we do it with skills through this app that teaches daily habits' or 'everybody else grows through paid marketing, we do YouTube content that gets millions of views so we acquire customers for pennies where others pay $10.'”