My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
“Zero to something is always more life-changing”
What It Means
The psychological and practical impact of first wealth creation far exceeds subsequent wealth increases
Why It Matters
Explains why first-time entrepreneurs should focus intensely on reaching initial success rather than optimizing for maximum exit value
When It's True
When someone has never had financial independence or significant wealth before
When It's Risky
When it leads to taking unnecessary risks or not optimizing for long-term value creation
How to Apply
Prioritize getting to first profitable exit over maximizing valuation
Focus energy on crossing wealth independence threshold
Don't over-optimize early decisions that prevent reaching initial success
Example Scenario
“Startup founder chooses faster path to $10M exit over slower path to potential $50M exit because financial independence is more valuable than wealth optimization”
Related Knowledge
just gotta make your first nut but after you do that work on noble Mission
Focus entirely on financial freedom first, then switch to meaningful work once secure
billionaire is a state of mind
The label 'billionaire' is more about perception and lifestyle than actual liquid wealth
focusing on making money will cause you to make less money
When people perceive you as primarily motivated by money extraction, they avoid transacting with you, reducing your actu
Wealth Management A/B Test Framework
Split significant capital between professional wealth management and self-directed investing to empirically compare perf
Tax Alpha Over Investment Alpha Framework
Focus optimization efforts on tax reduction strategies rather than trying to beat market returns through security select
Build $30M+ tax-free retirement account through legal Roth IRA contribution loopholes
Accumulate $30M+ in tax-free Roth IRA by retirement age, paying zero taxes on withdrawals