My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
Build a multi-generational family business where family members work together and live in proximity
Families with complementary skills who want to build wealth together while maintaining close relationships
10-20 yearsWhat Success Looks Like
Family members living in same neighborhood, all working in family business, kids playing together, successful exit while maintaining family relationships
Steps to Execute
Identify a business opportunity suitable for family involvement
Define clear roles for each family member based on strengths
Establish boundaries between family and business decisions
Create systems for conflict resolution
Plan succession and exit strategies early
Checklist
Inputs Needed
- Family members with complementary skills
- Sufficient capital for both business and real estate
- Business opportunity suitable for family operation
- Legal structure for family business
Outputs
- Sustainable family wealth
- Strong family relationships
- Valuable business asset
- Generational wealth transfer
Example
“Muscle Milk family: father, son, daughter all living in same cul-de-sac, each with defined roles in the business, built $450M company while maintaining close family relationships.”
Related Knowledge
Timeline Forcing Analysis
A method of analyzing successful companies by drawing out year-by-year timelines to reveal the 'forgotten grinding years' between start and breakthrough.
Too Hard Pile Decision Making
A decision-making framework where you categorize opportunities into 'obviously good', 'obviously bad', and 'too hard to judge' - then only act on the obviously good ones.
Small Batch Iteration Advantage
A competitive advantage gained by testing products in much smaller batches than competitors, enabling faster feedback loops and more iterations.
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underwriting_vs_outcome_confusion
Sell a business while retaining the most valuable strategic asset for ongoing revenue
Successfully exit main business at high valuation while retaining strategic asset that generates ongoing revenue and ser