My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
“billionaire is a state of mind”
What It Means
The label 'billionaire' is more about perception and lifestyle than actual liquid wealth
Why It Matters
Challenges common assumptions about wealth and success metrics
When It's True
When most wealth is illiquid and valuations are subjective
When It's Risky
When dealing with publicly traded assets or cash-heavy individuals
How to Apply
Focus on cash flow over net worth
Be skeptical of paper valuations
Prioritize liquidity in investments
Example Scenario
“Many 'billionaires' cannot actually wire $100K tomorrow due to illiquidity”
Related Knowledge
Mr Beast and other top creators are building bad businesses (chocolate bars, supplements) when they
Audience value is so high it makes even bad businesses work, but the same audience could create vastly superior business
Net worth is a silly metric - cash flow and liquidity matter much more than reported net worth
Most net worth is illiquid and based on subjective valuations, while cash flow determines actual lifestyle and opportuni
High Authority vs Delegated Authority Model
Binary leadership approach where you either operate with complete top-down authority or delegate full decision-making au
Passion Project Connection Strategy
A relationship-building approach that focuses conversations on people's current passionate interests rather than their well-known achievements, creating deeper engagement and authentic connection.
Three-Stage Currency Adoption Framework
A currency must pass through three distinct stages to become truly functional: store of value, medium of exchange, and unit of account.
Systematically improve content creation skills through deliberate practice
By video 100, your content quality has improved dramatically through conscious iteration, and you no longer need external advice because you've developed your own judgment and skills.