It’s been said that I believe in the power of positive
thinking. In fact, I believe in the power of negative thinking. I
happen to be very conservative in business. I always go into
the deal anticipating the worst.
Be very Conservative in business
.
If you plan for the worst—if
you can live with the worst—the good will always take care of
itself.
.
The only time in my life I didn’t follow that rule was
with the USFL. I bought a losing team in a losing league on a
long shot. It almost worked, through our antitrust suit, but
when it didn’t, I had no fallback. The point is that you can’t
be too greedy. If you go for a home run on every pitch,
you’re also going to strike out a lot. I try never to leave myself
too exposed, even if it means sometimes settling for a triple, a
double, or even, on rare occasions, a single.
.
DON’t BE TOO GREEDY
Keep your exposure lower
Risk reduction
My choice was whether to keep all the risk myself, and own
100 percent of the casino, or settle for a 50 percent stake
without putting up a dime. It was an easy decision.
Barron Hilton, by contrast, took a bolder approac
.
Castle
Maximize your options
Better to take business advice from a personal actually a successful businessman
Half a dozen approaches
Don’t spend too much time Feeling sorry for yourself , know when to pivot
Know your market
Random surveys
Terrible failures
very few of them have is any feeling for
what the public wants. Which is why, if these critics ever tried
to become developers, they’d be terrible failures.
.
Use your leverage
Bitcoin: the best location is cyber
Enhance your location
Never pay too much
My point is that the real money isn’t made in real estate by
spending the top dollar to buy the best location. You can get
killed doing that, just as you can get killed buying a bad
location, even for a low price. What you should never do is
pay too much, even if that means walking away from a very
good site. Which is all a more sophisticated way of looking at
locat
.
The more sensational The Better
Promote bravado –> play to their fantasies!
Truthful hyperbole ***