My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
“You need a good idea and good team”
What It Means
Business success ultimately comes down to two simple but difficult things: identifying real opportunities and assembling talented people
Why It Matters
Cuts through complexity of business building to focus on what actually matters for success
When It's True
In all business contexts, but especially important for venture-scale opportunities
When It's Risky
When market timing, regulation, or capital requirements dominate success factors
How to Apply
Spend most time on opportunity research and team building
Avoid getting distracted by tactics, tools, or optimization
Evaluate potential ventures primarily on these two dimensions
Example Scenario
“AlleyCorp spends 2.5 months researching industries to find good ideas, then focuses entirely on recruiting specialist CEOs”