My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
“you can't have it all you just can't have it all at once”
What It Means
Life satisfaction requires sequential focus rather than simultaneous optimization of all areas
Why It Matters
Sets realistic expectations about what's possible in different life stages and prevents frustration from unrealistic goals
When It's True
When pursuing ambitious career or financial goals that require significant time investment
When It's Risky
When used to justify neglecting important relationships or health for too long
How to Apply
Plan life in chapters with different focuses
Accept short-term sacrifice for long-term balance
Communicate expectations clearly with family/partners
Example Scenario
“A 30-year-old works 70-hour weeks for 10 years to achieve financial security, then transitions to 40-hour weeks to focus on family relationships.”
Related Knowledge
the sexier the business the lower return on investment
Industries that seem glamorous or appealing typically offer worse financial returns for participants
Sexier Business, Lower ROI Principle
A career selection rule stating that the more attractive or glamorous an industry appears, the lower the financial retur
Algebra of Wealth Formula
A mathematical representation of wealth building: Focus × Stoicism × Time × Diversification = Wealth
Build a business designed from inception to sell at premium multiples
Selling company for 8x+ revenue in top decile of industry valuations
Time-bounded Recovery Framework
A self-imposed time limit for processing and recovering from failures, losses, or setbacks before you must take action t
Influence Absorption Framework
A deliberate strategy of deeply studying 3-5 people you admire so thoroughly that you can 'turn them on' and channel the