My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
Just-In-Time Learning
Learn skills and knowledge precisely when you need them for specific situations rather than trying to learn everything upfront
Decision Rule
When facing new challenge, learn minimum viable knowledge to proceed rather than attempting comprehensive preparation
How It Works
Reduces analysis paralysis, increases retention through immediate application, and prevents over-preparation that may not apply to your specific situation
Failure Modes
Learning too late when stakes are very high
Missing foundational knowledge that takes time to build
Making costly mistakes due to knowledge gaps
Appearing unprepared in professional situations
Example Decision
“Instead of taking months to study private equity before buying first business, learn due diligence basics when you have a deal under contract, then learn working capital management when you're about to close”
Related Knowledge
Small business acquisitions offer superior risk-adjusted returns to public markets
Individuals should consider business acquisition over index investing if willing to do the work
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
Constraints-First Decision Making
Start any major decision by clearly defining your constraints rather than exploring all possibilities
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