My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
The way you do one thing is the way you do everything
Evidence
Small behaviors like investor update quality predict larger business execution patterns
Implication
Pay attention to how people handle small details as indicators of their general competence and integrity
Counter Belief
People can compartmentalize and be excellent in some areas while poor in others
Example Application
An investor judges startup quality based on how founders write monthly updates - clear metrics and honest communication predict business execution.
Related Knowledge
Industry Expert Blindness
Industry experts often miss breakthrough opportunities because their deep knowledge creates limiting assumptions about what's possible.
Inverse Relationship Between Caring and Results
The less emotionally attached you are to an outcome, the more likely you are to achieve it, because desperation creates poor decision-making.
Fix-It Theory
A customer service framework where fixing mistakes creates higher customer loyalty than perfect service from the start.
Paul Graham's Animal Test
An entrepreneur evaluation framework that asks: 'Can you describe this person as an animal?
Hold Me Back Guy Strategy
A face-saving mechanism where someone makes aggressive threats while ensuring they have an excuse not to follow through, maintaining reputation without actual risk.
Write investor updates that build trust and get help
Investors understand your business health, offer help proactively, and maintain confidence in your team even during tough times.