My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
“The highest returns on capital we get as entrepreneurs is talent.”
What It Means
Investing in great people provides better ROI than any other business investment
Why It Matters
Reframes hiring from cost center to highest-leverage investment opportunity
When It's True
When you can identify and develop exceptional talent effectively
When It's Risky
When you lack ability to evaluate talent or create environment for success
How to Apply
Prioritize hiring budget over other investments
Spend more time on talent evaluation processes
Pay premium rates for truly exceptional people
Example Scenario
“Choose to hire one exceptional salesperson at $200K rather than two average ones at $100K each”
Related Knowledge
If I'm thinking I have to fill this role, it's usually not the right person.
Desperation to fill positions leads to compromising on quality and settling for wrong candidates
hire more experienced people and pay them a lot more money and I get way better results
Paying 2-3x more for experienced talent delivers 5-10x better results than hiring ambitious juniors
Management Diamond Framework
A diagnostic framework for understanding why employees aren't performing by examining four core areas: what (unclear exp
Mosaic 6 Business Constraint Framework
Six core areas that limit business growth: More (traffic/leads), Metrics (tracking/optimization), Market (product-market
Identify genuinely intelligent candidates during interviews
Hiring candidates who demonstrate high learning velocity and can bridge skill gaps quickly
Hire C-level executives who can operate as true partners
Leaders you seek advice from on complex problems who bring their own networks and can operate full-stack