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5 myths of million-dollar businesses

At about the 36-minute mark of a recent episode of the My First Million podcast, the hosts list out a few things people say you need to build a million-dollar business, but you actually don’t:

  • You don’t have to care that much about the problem you’re solving
  • Your product doesn’t need to be that good
  • You don’t have to hire the best people
  • You don’t need great design
  • You don’t have to be great at delegation or outsourcing
  • You don’t need to care that much about user experience

Sure, all those things are good to have and likely give you an advantage, but they are not requirements to success.

You can find examples of thriving million-dollar businesses that have broken one or more of those rules 😎

Related article mentioned on the podcast, by the guy who created Gmail: If your product is Great, it doesn’t need to be Good.

Updated: September 25, 2023

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