My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
“people buy value not price”
What It Means
Customers make purchase decisions based on perceived value rather than lowest price
Why It Matters
Explains why premium pricing can work and why competing on price alone often fails
When It's True
In markets where buyers can distinguish quality and value differences matter for outcomes
When It's Risky
In pure commodity markets or when buyers cannot evaluate quality differences
How to Apply
Focus on creating genuine value rather than competing on price
Understand what specific value your customers derive from your product
Position your offering based on value delivered rather than features or price
Example Scenario
“Van Trump Report charges $600/year while free agricultural information exists because it provides genuine trading edge that creates value for subscribers”
Related Knowledge
Value vs Uniqueness Business Matrix
A 2x2 matrix plotting business opportunities on axes of total value (y-axis) and uniqueness (x-axis) to determine strate
Light User vs Heavy User Funnel Strategy
Strategic positioning framework where businesses deliberately avoid heavy users who demand low margins and instead focus
Systematically expose yourself to different worldviews to avoid becoming cynical and maintain fresh perspectives
Regularly discovering new business ideas, maintaining curiosity, avoiding the 'old bear' mentality, and finding unexpect
Build a profitable newsletter business from scratch using subject matter expertise
Newsletter generating $10M+ annually with 30k+ subscribers paying $600+ per year, growing organically without paid adver
Wait for Your Pitch Strategy
Like Ted Williams mapping his batting average by strike zone, identify your 'sweet spot' opportunities and only swing at
Transparent vs Opaque Opportunity Assessment
Opportunities are either 'windows' (transparent, can see outcome clearly) or 'doors' (opaque, unknown what's behind).