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 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.
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.