My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
Talent is the highest return on capital investment for entrepreneurs, delivering 10x-100x returns reliably
The Reasoning
Great talent can multiply output exponentially while poor talent can destroy value. The leverage potential of human capital exceeds other asset classes for entrepreneurs.
What Needs to Be True
- You can identify truly exceptional talent
- You can create environment where talent thrives
- The role has leverage potential for outsized impact
- You have capital to invest in top-tier talent
Counterargument
Technology and systems might provide more predictable returns with less management overhead
What Would Change This View
Evidence that automated systems consistently outperform great people, or if talent management costs exceed returns
Implications for Builders
Prioritize hiring budget over other investments
Develop talent evaluation skills as core competency
Build systems to attract and retain A+ players
Pay above market rates for exceptional talent
Example Application
“Hire one exceptional salesperson at $200K rather than two average ones at $100K each - likely to generate significantly more revenue with less management overhead”