My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
The 'easy passive income' businesses promoted on social media (laundromats, car washes, etc.) are either lies or represent a massive opportunity arbitrage
The Reasoning
If these businesses were truly as easy and profitable as claimed, sophisticated operators would have already captured all the value
What Needs to Be True
- The returns are actually much lower than claimed
- The work required is much higher than portrayed
- There are hidden complexities not being disclosed
Counterargument
These businesses do provide steady cash flow but require significant capital and hands-on management
What Would Change This View
Meeting multiple people who truly have hands-off laundromat businesses generating claimed returns
Implications for Builders
Focus on digital/scalable businesses if you have those skills
Be skeptical of social media business advice
Understand the full cost structure before entering physical businesses
Example Application
“Before buying a car wash franchise, calculate true time investment including management, maintenance, and customer service requirements”
Related Knowledge
Little Big Details Framework
Focus on small, seemingly insignificant moments and details that reveal deeper patterns and insights, rather than obviou
Eight Hour Observation Framework
Physically position yourself in the center of a problem area and observe continuously for extended periods without preco
Peer vs Fan Relationship Framework
The only valuable celebrity/high-status person relationships are mutual respect between peers, not fan-celebrity dynamic
Number Two Guy Network Strategy
Build relationships with the second-in-command people (assistants, business partners, right-hand people) who have 98% of
Build and maintain a world-class professional network through consistent relationship nurturing
People proactively share opportunities with you, remember important details about your projects, and maintain warm relat
Center of Universe Company Strategy
Each year one company becomes the clear breakout that everyone wants to work with - identify and invest in that company