My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
“they have the highest bias for action of anyone I've met”
What It Means
Giving someone a specific positive identity label that shapes how they see themselves and act
Why It Matters
Shows how powerful specific positive labels can be in shaping behavior and self-concept
When It's True
When someone demonstrates quick follow-through on advice and recommendations
When It's Risky
When the label doesn't match reality or when someone becomes dependent on external validation
How to Apply
Give specific positive labels to people who demonstrate good qualities
Live up to positive labels given to you
Use identity-based thinking for decision making
Example Scenario
“After someone quickly implements your suggestion and reports back results, you tell them they have exceptional execution ability, which becomes part of their identity”
Related Knowledge
Penny Stock to Blue Chip Framework
A framework where someone with high potential but low current evidence (penny stock) receives belief from someone who se
Become someone who effectively believes in and supports others' potential
You help accelerate others' success by providing genuine belief and confidence at crucial moments in their journey
Identify and connect with people who will believe in your potential before you have evidence
You find 1-3 people who genuinely believe in your potential and provide the confidence boost needed to take meaningful a
Identity-Based Action Model
When someone gives you a positive identity label, you unconsciously act in ways that confirm that identity, creating a s
False belief can be as effective as accurate belief in driving success
Focus on finding and giving genuine enthusiasm rather than perfectly accurate assessments
you're a penny stock but they see you as a blue chip
Someone with low current evidence but high potential being seen by others as having great future value