My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
Small business acquisitions offer superior risk-adjusted returns to public markets
Evidence
Buying profitable businesses at 4-6x EBITDA vs public markets at 25x+ earnings, with ability to improve operations
Implication
Individuals should consider business acquisition over index investing if willing to do the work
Counter Belief
Public markets provide better liquidity and diversification with less work
Example Application
Instead of putting $500K in S&P 500 for 8% returns, use it to buy business generating 20%+ cash-on-cash returns
Related Knowledge
Just-In-Time Learning
Learn skills and knowledge precisely when you need them for specific situations rather than trying to learn everything u
Constraints-First Decision Making
Start any major decision by clearly defining your constraints rather than exploring all possibilities
Stacking Golden Geese
Sequential acquisition strategy where each successful business acquisition funds and de-risks the next, creating compoun
High Authority vs Delegated Authority Model
Binary leadership approach where you either operate with complete top-down authority or delegate full decision-making au
Acquire first cash-flowing business with minimal capital
Own a profitable business generating $200K-500K annual free cash flow that doesn't require your daily presence within 2
all businesses are Loosely functioning disasters some just happen to make money
Every business has significant operational dysfunction - success comes from making money despite the chaos, not from per