Learning Path 02
Starting a Business
From idea to structure to first customers — the sequence of decisions a new founder actually faces.
- Beginner
- ~11h estimated
- 22 modules
- 149 topics
Suggested before this path:
Why this path matters
Most first businesses fail on structure and distribution, not on effort. This path front-loads both.
What you will understand
- Structures where every month builds on the last.
- Verify before you commit — money, time, or reputation.
- The best product loses to the best distributor.
- How structure shapes what you keep and what you risk.
Modules in this path
Recurring Revenue Models · Business Models
Intermediary and Access Models · Business Models
- Licensing
- Franchising
- White Label
- Private Label
- Agency-to-software
- Productized Services
- Recurring Maintenance
Service and Knowledge Models · Business Models
- Retainers
- Performance Pricing
- Revenue Shares
- Affiliate Businesses
- Referral Businesses
- Digital Products
- Communities
Ownership Leverage Models · Business Models
- Data Businesses
- Training Businesses
- Certification Businesses
- Own the Customer not the Asset
- Own Distribution not the Product
- Own Financing not Inventory
- Boring Business Acquisition
Acquisition-Driven Models · Business Models
Diligence Before You Start · Due Diligence
- Due Diligence Before Starting
- Inventory Due Diligence
- Supplier Due Diligence
- Acquisition Due Diligence
- Investor Due Diligence
- Partnership Due Diligence
- Market Due Diligence
Diligence by Domain · Due Diligence
- Customer Due Diligence
- Financial Due Diligence
- Legal Due Diligence
- Operational Due Diligence
- Reputation Due Diligence
- Competitor Due Diligence
- Founder Due Diligence
People and Paper · Due Diligence
- Intellectual Property Due Diligence
- Contract Due Diligence
- Debt Due Diligence
- Tax Due Diligence
- Hidden Liabilities
- Churn Analysis
- Revenue Verification
Fraud and Fakes · Due Diligence
- Spotting Fake Reviews
- Spotting Fake Revenue
- Supplier Fraud
- Inventory Fraud
- Marketplace Account Risk
- Key-person Risk
- Regulatory Risk
Structured Audits · Due Diligence
- The What-breaks-first Audit
- The sales-drop-30-percent Audit
- The What-is-hidden Audit
- Why Good Deals Can Be Bad Businesses
- Data Room Discipline
- Quality-of-earnings Mechanics
Owned vs Rented Audiences · Distribution
- Distribution versus Product
- Owning an Audience
- Renting an Audience
- Email as a Channel
- SMS Marketing
- Search Traffic
- Social Media Channels
Channels That Work · Distribution
- Creator Partnerships
- Influencer Economics
- Affiliate Systems
- Referral Systems
- B2B Outbound
- Cold Email
- Cold Calling
Outbound and Partnerships · Distribution
- Local Outreach
- Partnership Channels
- Channel Sales
- Reseller Networks
- Strategic Distribution
- Marketplace Dependence
- Platform Risk
Platform Dependence · Distribution
- Algorithm Risk
- Search Dependence
- Building a Brand Outside Platforms
- Audience Arbitrage
- Attention Arbitrage
- Local SEO
- Reviews as Distribution
Distribution Moats · Distribution
- Community Growth
- Embedded Distribution
- Distribution Moats
- Why the Best Product Loses to the Best Distributor
Entity Types · Taxes & Entities
- Sole Proprietorships
- LLCs
- S Corporations
- C Corporations
- Partnerships
- Holding Companies
- Operating Companies
- IP Holding Companies
Company Architectures · Taxes & Entities
- Parent Companies
- Subsidiaries
- Series LLCs
- Taxable Income versus Cash Flow
- Payroll Taxes
- Self-employment Tax
- Sales Tax Nexus
- Economic Nexus
How Business Taxes Work · Taxes & Entities
- Resale Certificates
- Depreciation for Taxes
- Bonus Depreciation
- Section 179
- Cost Segregation
- Tax-loss Harvesting
- The Qualified Business Income Deduction
- Estimated Taxes
Deductions and Timing · Taxes & Entities
- Tax Reserves
- Deductions versus Personal Expenses
- Asset Protection
- Piercing the Corporate Veil
- Personal Guarantees and Entities
- Insurance as Legal Protection
- Entity Structure Early versus Later
- Employee versus Contractor
Protection and Strategy · Taxes & Entities
- Hiring Your First Employee
- Business Licenses and Permits
- Record Keeping and Clean Books
- The Business Tax Calendar
- Protecting Intellectual Property
- Deferred Taxes
- Research and Development Tax Credits
- 1031 Exchanges
Advanced Tax Positions · Taxes & Entities
- Purchase Price Allocation
- Net Operating Losses
- State Tax Apportionment
- Section 382 and the NOL Limitation
- SRLY Limits in a Consolidated Return
- GILTI, FDII, and Subpart F
- Check-the-box Elections and Hybrid Entities
- Debt-equity Characterisation Under Section 385