- What is the #1 most costly mistake you have made, or seen many investors/business owners make that could be avoided?
The most costly mistake that I’ve ever made in business over the years has been to is to assume that most people work with the perspective of a Win-Win. Unfortunately the gravity of shortsightedness and glamor of a quick buck is much more prevalent than I had calculated. One must have the appropriate guard rails to offset this challenge.
- What is the most valuable strategy, worth far more than $1 million, that you wish someone provided you with early on that you can share here?
What I am about to recommend is not always possible, but it is worth mentioning: in addition to getting qualified information, as a principle, it is important to have, for each dollar invested, three dollars available. You will inevitably sail through rough seas. It turns to be another obvious but little-taken advice, maybe due to the enormous difficulty to put it in practice.
- What was the major turning point, point of increased momentum, or strategic choke point, that once you acquired or completed, made everything you were doing surge forward?
The turning point for me was when I simplified the opportunities into three buckets. One that extends Life, Enhances life or creates efficiencies. The product or service in all of these categories has a life cycle and one must study the cycle to determine the true opportunity and risk.