My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
“Market timing beats team quality - if you pick the right market, bad team and product can still succeed.”
What It Means
Choosing the right market opportunity is more important than execution quality for startup success
Why It Matters
Challenges conventional wisdom about team and product being most important success factors
When It's True
When markets are experiencing rapid growth with desperate customer demand
When It's Risky
When assuming market demand will persist or that execution doesn't matter at all
How to Apply
Spend more time on market research than product development initially
Look for markets with customers begging for solutions
Time entry with regulatory or technological inflection points
Example Scenario
“Coinbase succeeded despite constant crashes because crypto market demand was so strong customers tolerated poor experience”
Related Knowledge
Digits Database Framework
A systematic approach to identifying business opportunities by collecting generation-defining statistics and examining their implications rather than dismissing them as merely interesting facts.
Regulation Inflections Framework
A method for identifying business opportunities by tracking regulatory changes that unlock previously restricted markets or create new compliance requirements.
Build AI products for industries with severe talent shortages
AI product adoption with minimal sales resistance because clients desperately need capacity, not concerned about job dis
Second and Third Order Effects Analysis
Mental framework for analyzing how primary changes create cascading effects that most people miss, revealing hidden busi
Data-driven trend spotting beats intuition for identifying opportunities
Systematic data collection and analysis can reveal opportunities that intuitive entrepreneurs miss
We all run into these stats and most are like 'Oh, that's cool.' But maybe examine this more closely
Most people encounter significant statistics but fail to analyze their business implications