My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
Massive wealth typically comes from doing one thing exceptionally well for extended periods, not from diversifying across multiple projects
The Reasoning
Every yes to a new project is a no to family time, deep focus, or optimization of the main thing. Successful people appear diversified only after achieving massive success in their primary focus area
What Needs to Be True
- The chosen focus area has significant market potential
- You can maintain motivation for extended periods on one thing
- Market timing allows for sustained focus without major pivots needed
- The core business model is fundamentally sound
Counterargument
Diversification reduces risk, provides learning opportunities, and some businesses require multiple revenue streams to succeed
What Would Change This View
Evidence that multi-project entrepreneurs consistently outperform focused ones at similar stages, or proof that modern markets require constant pivoting
Implications for Builders
Choose your primary focus very carefully using systematic research
Set clear criteria for when to abandon vs. when to persist
Build systems to resist shiny object syndrome
Remember that successful people's apparent diversification came after singular focus
Example Application
“Andrew Wilkinson appears to own 40 businesses, but his singular focus is 'buying companies and investing' - everything else stems from that core competency”
Related Knowledge
6-Step Business Idea Research Framework
A systematic approach to discovering profitable business opportunities by researching six key areas: demand, audience si
Extract business insights and trend signals from public company annual reports
Finding 1-2 specific lines about fast-growing segments that spark viable business ideas
Collector of People Mental Model
Systematically building relationships with interesting people before you need them, treating networking as collecting va
Consistency beats perfection in fitness and business
Systems and non-negotiable rules matter more than motivation or perfect conditions
when you see a big company say one or two lines like that that gets me really interested
Large companies with millions of customers mentioning small trends signals massive future opportunities
big results typically come from one thing
Massive wealth and success usually result from exceptional execution in a single area rather than diversification