My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
“historically you built a company by building the product and then going and looking for customers now you can find the customers and then build the product”
What It Means
The internet enables audience-first business building instead of product-first approaches
Why It Matters
Represents fundamental shift in how businesses can be built in the digital age
When It's True
When you can build and maintain audience relationships through content and social media
When It's Risky
In industries where product innovation is more important than audience relationships
How to Apply
Build audience before building products
Validate product ideas with existing audience
Use content to understand customer needs first
Example Scenario
“Finance content creator builds large audience, then creates research and job board products specifically for that audience”
Related Knowledge
Capital + Distribution Framework
A business building approach where you leverage existing capital and distribution channels to launch multiple products/services rather than operating them directly.
Transition from advertising revenue to owning the products you promote
Higher revenue per audience member, better margins, and more sustainable business model
Higher Success Probability with Own Business
The probability of making money starting your own business with 50-100K is higher than angel investing the same amount
Young contrarian people create the most interesting opportunities
Seek out and work with young people who think differently rather than traditional high achievers
you're much more likely to be able to take fifty a hundred thousand dollars start a business and get
Starting your own business has higher success probability than angel investing
For early-stage investing, personal investment often beats fund management economically
Fund carry structure and management fees reduce returns compared to direct personal investment, plus you eliminate LP ma