My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
“you should be amazing at social media”
What It Means
Young entrepreneurs should leverage their generational advantage in social media marketing
Why It Matters
Social media marketing is cost-effective and plays to young founders' natural strengths
When It's True
When competing against established brands with bigger budgets but less social media savvy
When It's Risky
If social media doesn't align with target customer demographics or buying behavior
How to Apply
Prioritize content creation and social media presence over traditional advertising
Tell authentic founder story through social platforms
Use creativity and trends rather than budget to compete
Example Scenario
“Young food brand uses founder's personal story on TikTok to compete against established CPG companies spending millions on traditional ads”
Related Knowledge
Summer Melt Prevention Framework
A systematic approach to preventing prospective students from withdrawing their college enrollment commitment at the last minute, typically during summer before freshman year.
Content-First Brand Building Framework
A brand building approach that prioritizes storytelling and content creation over traditional advertising to achieve cheaper customer acquisition and authentic engagement.
Decide whether to raise venture capital or bootstrap a profitable business
Making optimal funding decision that aligns with business potential and founder goals, avoiding premature scaling or missed opportunities.
Scale CPG product from small regional chains to national distribution
Systematic expansion from regional chains to national retailers while maintaining velocity metrics and profit margins.
Going Pro vs Dropping Out Reframe
Reframing education departure from 'dropping out' (negative) to 'going pro' (positive) when someone has exceptional skills ready for professional application.
Product in Search of Market Recognition
Identifying when you have strong technology or product capabilities but haven't found the right customer segment or use case that will pay sufficiently for the solution.