My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
Deep participation in 2+ conferences to build relationships and understand industry dynamics
Why It Works
Industries have concentrated communities that gather at specific events, providing efficient access to key players
Prerequisites
How to Execute
Identify the 2-3 most important conferences in target industry
Attend as participant, not vendor, to build relationships
Schedule meetings with diverse stakeholders (suppliers, customers, intermediaries)
Follow up with detailed interviews after initial meetings
When It Fails
When conferences are primarily vendor-focused rather than industry problem-solving focused
Real Example
“Attending maritime conferences to understand shipping industry, leading to container marketplace and procurement platform opportunities”
Related Knowledge
Maritime Procurement Marketplace
When ships break down in remote ports, operators have no efficient way to source parts and repairs.
Robotic Massage Services
17,000 open positions for massage therapists in the US.
The Ryan Studio Model
A systematic approach to creating multiple companies by combining deep industry research, patient capital, and specialist CEO recruitment rather than trying to be CEO of everything yourself.
The Dollar-Into-Two-Dollar Machine Framework
A mental model for evaluating whether to raise capital and invest in growth by determining if you can reliably convert investment into higher returns.
The 10-Year Trend Betting Framework
A strategic approach to business building that focuses exclusively on trends and opportunities that will play out over 10+ years rather than immediate market gaps.
Systematically understand a new industry well enough to identify billion-dollar opportunities
A 50-page document identifying 3-5 major pain points, key players, industry structure, and specific product opportunitie