Mark Russo: asking what happens after the purchase

Near the end of his interview, Russo described imagining that he already owned an asset before deciding whether to buy it.

Ownership became the starting point

He asked what he would do with the asset, whether he could sell it and whether it could scale. These questions moved his attention beyond the excitement of acquiring something. He also asked whether the price made sense.

Other people supplied another view

Russo said he asked partners and other business contacts questions before making a decision. He connected those conversations with looking through a different lens. The method was part of his answer about mistakes he wanted to avoid repeating.

In Mark Russo's words

"if I want to buy something like okay now I own it so now what am I going to do with it" (Mark Russo, recorded interview with Richard C. Wilson)

How to use this

Write down the work that begins after a purchase.
Ask someone familiar with the business to review those assumptions.

Questions and answers

Which perspective did Russo use?

He imagined already owning the asset and considered what he could do with it.