Give me 24 Minutes and I'll Teach You How to Make $1M Introduction and the Goal: The video aims to provide a three-step blueprint to make a million dollars from scratch, without prior experience or investment . The speaker, Micaia Rson, emphasizes the importance of focused effort and shares their experience of building and selling a company for $110 million . The Key to Rapid Wealth Building: The core concept is identifying "billion-dollar desperate markets" – markets with a significant need for a solution . This approach is compared to pushing a boulder downhill, contrasting with the difficulty of competing in established markets . Jeff Bezos's Method: The speaker explains how Jeff Bezos, before Amazon, used market trend data (specifically, the 2300% year-over-year growth in web usage) to identify a disruptive opportunity . Finding Billion-Dollar Markets: The method involves leveraging free reports and white papers from consulting firms like McKinsey, BCG, and Bain & Company . A link to a document with links to these reports is promised in the description . The speaker advises looking for three key things in these reports: A market change creating new opportunities . A gap in existing solutions . The size of the market (using a formula: number of customers * price > $1 billion) . An example using the car dealership market is provided to illustrate the calculation . Avoiding Low-Leverage Businesses: The video stresses the importance of avoiding "low-leverage" business models where profit is directly tied to time spent working . High-leverage businesses, on the other hand, multiply the impact of work, leading to faster wealth building . Examples of high-leverage businesses (Shopify with a 29x revenue multiple, and Adobe's attempt to buy Figma for 50x revenue) are given . Building a High-Leverage Business: Four key elements of a high-leverage business are outlined : Recurring revenue model (subscriptions) . High profit margins (at least 70%) . Scalability through technology, not people . Selling your own product . The "What, How, Who" Dilemma: This section addresses a common sales mistake: focusing on the product's features instead of the customer's needs and desires . The "What, How, Who" framework is introduced to guide sales conversations: What: Identifying the customer's desired outcome . How: Explaining how the product delivers that outcome . Who: Establishing credibility and why the seller is the best option . The Lean Learning Loop: This framework, combining principles from the Lean Startup and First Principles thinking, emphasizes rapid testing and validation of ideas to minimize risk . An example using a cooking blog and a "Buy My Book" landing page is used to illustrate the process . Launching Your Business (Selling Before Building): The video advocates for selling the product before building it, using a "Customer Advisory Board" (CAB) . The process involves reaching out to potential customers, asking for help and advice, and then proposing CAB membership with a significant discount in exchange for feedback . A sample script for this outreach is provided . Building a "Black Car" Product: The concept of building a minimally viable product (MVP) focused on solving one specific problem is introduced . This approach prioritizes rapid iteration and customer feedback over building a feature-rich product initially. Building a "Pizza Squad": The video advises keeping the team small (five to eight people) in the early stages to avoid management overhead and maintain agility . Step Three: Growing the Business and Freeing Yourself: This section highlights the importance of mindset and addresses the high failure rate of CEOs in early-stage companies . The speaker emphasizes the need for continuous skill development. The Triad of Influence: To facilitate continuous learning and growth, the speaker introduces the "Triad of Influence": Peers: For inspiration and collaboration . Mentors: For guidance and avoiding pitfalls . Heroes: For learning from successful individuals through their content . Scaling the Business: The video describes the "Document and Delegate" method for scaling operations, involving creating playbooks for high-performing processes and delegating their execution . Millionaire Mindset: The video concludes by emphasizing the importance of a millionaire mindset and links to another video on this topic .