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Newsletter #12 - 3 Dummy-Proof Rules for Your First Million
Nikolas Hulewsky
August 30, 2025
Happy Saturday!
Can you believe Labor Day is here??!
I get asked a lot about getting into entrepreneurship and this week, I actually spent some time thinking through how I would start over (if I had to).
So we cover:
The 3 rules of “dummy insurance” that keep you from going broke.
The field I would go into if I had to do it all over again.
Business I recommend for first-time entrepreneurs.
Podcast recaps.
Before we start, give me some feedback so I can give you the content you want! (please)
Which Kind of Content Do You Want More Of? |
3 Dummy-Proof Rules for Your First Million
A Framework to Stack the Deck in Your Favor as a First-Time Founder
Most first-time founders think they need the next genius idea to start a business, but that’s not true.
You don’t need to come up with the next iPhone. All you need is a business idea with tailwinds, fat margins, and cash up front.
You can outwork bad margins, but you can’t outrun them.
Here are 3 dummy-proof rules to stack the deck with businesses that forgive mistakes.
Rule #1: Ride The Macro Trends
Macro trends are the “big shifts” in how people live, spend, and age. If you plug your business into one of these, demand is basically baked in.
Aging population: Elder care, home services, senior-friendly products.
Health-Conscious Consumers: Preventative health & longevity services, Wellness & Fitness tech
AI Automation & Adoption: Agentic Workflow in Operations, SMB AI Agencies
Wellness & longevity: Med spas, hormone therapy, functional medicine.
Think About This: It’s way easier to win when the wave is already moving in your direction.
Rule #2: High Margins Are Essential
Low margins kill first-time entrepreneurs. When you only make 5–10% per dollar, there’s no room for rookie mistakes.
On the flip side, high-margin businesses give you oxygen. Here are the numbers:
Home services: 40–60%+ margins (solopreneuer)
Med spas: $1.5M average revenue per location with 20–30%+ net.
Think About This: High margins = cushion for errors. You will make mistakes. Fat margins keep those mistakes from killing you.
Rule #3: You Need Fast Cash Conversion
Cash flow is one of the biggest reasons small businesses fail.
If it takes 60–90 days to get paid, you’re running the business on your credit card. That’s a death spiral for first-time founders.
The fix?
Upfront payments: Collect deposits before you start work.
Quick turnaround: Finish projects fast so you can turn cash faster.
Avoid AR headaches: Stop chasing invoices.
Think About This: A short cash cycle lets you grow without outside financing. That means more freedom for you and less stress.
The Takeaway:
A low-margin, slow-cash, trendless business means even small mistakes get amplified. You run out of oxygen before you even learn how to breathe. That’s why these 3 rules work best together.
A strong macro trend pulls demand forward.
High margins give you a cushion when you inevitably screw up.
Fast cash conversion keeps you alive long enough to figure things out.
Individually, each one helps. Combined, they give you dummy insurance and actually put you on a path to that first million.
If I Had To Start Over… I Would Go Into Healthcare
Not because it is sexy, but because the macro tailwinds are so MASSIVE, you almost can’t mess it up. Here are the numbers:
The Aging Population: By 2050, nearly 1 in 3 North Americans will be 65+. That means massive demand for elder care, assisted living, and in-home services.
Behavioral Health & Autism: Diagnoses have skyrocketed from 1 in 400 kids in 1985 to 1 in 28 today. Entire industries are forming around ABA clinics, therapies, and family support.
Med Spas & Longevity: The market was $18B in 2023 and is expected to hit $50B by 2030. People are spending on Botox, hormone therapy, IV hydration, and full-body scans because they want to look and feel younger.
And the best part? You don’t need to invent a new treatment or be a doctor. Healthcare has an enormous ecosystem of “picks and shovels” businesses you can tap into:
Staffing, payroll, or HR services for clinics.
Marketing, billing, or AI automation for providers.
Ancillary services like cleaning, supply delivery, or seasonal décor for facilities.
Margins are often higher than in traditional service businesses, recurring revenue is built in, and many providers don’t market well, leaving the door wide open for entrepreneurs who can execute.
You’re not fighting against Silicon Valley unicorns. You’re competing against under-optimized operators who are too busy to innovate. That makes the upside big, the downside manageable, and the path to your first million very real.
Businesses You Should Start As A First-Time Entrepreneur.
Over the last week, I’ve profiled businesses that are perfect for first-time entrepreneurs to start. Each business is analyzed using my 8-factor scorecard covering everything from startup costs to AI automation potential.
Here's what we've covered so far:
Business | Score | Notes | Business Plan / Vid |
Parking Lot Striping | 37/45 - Excellent First Business | The average job runs $300–$500, with margins at 45–65%. So, you can break even in 3 to 6 months. | |
Construction Site Cleanup | 34/45 - All-Star Starter | 70–80% of contractors rehire for every project, which gives you repeat work without constant marketing. | |
Fence Installation | 29/45 - Proceed with Caution | The work isn’t glamorous, but 3–4 projects a month can hit $10K+ revenue. | |
Laundromat | 32/45 – Solid Pick with Upside | With a prime spot near apartments or campuses, it can become a semi-passive, steady-income stream. | |
Trash Bin Cleaning | 36/45 – Solid Pick with Upside | If you can stomach the upfront investment and don’t mind the smell, this prints money on autopilot. |
This Week on Nikonomics:
Every week, I dive deep with entrepreneurs who've cracked the code on building real businesses. Here's what you might have missed:
I Automated My Entire Meeting Follow-Up in 10 Minutes (No Coding)
Guest: Olivia Look
Olivia walked me through how she automated all of her meeting follow-ups in under 10 minutes using only plain English. She walks me through:
Using Zapier’s new “Agents” feature to build a system that scans outgoing emails, checks ClickUp for a related task, and more. No manual follow-ups or open loops.
How to automate meeting recaps that generate a summary, pull out to-do items, and email the recap to everyone who attended.
Why using AI and automation together gives you calendar freedom.
The Secret Behind Sam Parr’s $27M Exit (It’s Not What You Think)
Guest: Sam Parr
He sold The Hustle for millions, built a media empire, and now he just wants to… sit and think. This episode’s a masterclass in how obsession compounds, if you can actually focus long enough to let it. We talk about:
How your email list is a distribution cheat code.
Why Sam actively seeks out people who are “freakishly curious, unusually focused, or just weird.”
Success isn’t always exciting because most winners just run the same playbook, over and over.
Want to Be a Millionaire? He Did It 4 Times. Here’s the Cheat Code
Guest: Nick Gray
Ask Me Anything
Every week, I’ll be answering a question sent to me via Twitter, Speakpipe or [email protected]. |
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Nik Hulewsky