Episode 358 – How to Avoid Fool’s Gold

Entrepreneurship

Episode 358 - How to Avoid Fool's Gold

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The greatest obstacle to success has to be disappointment. Perpetual disappointment if not checked will lead to feelings of hopelessness, cynicism, and feelings of defeat. So many people have given up on pursuing their passion, their purpose, and a better career because they’ve been burnt by Fools Gold.

So if you are in the place where you are wanting to do more in your personal or professional life how can you discern from good opportunities and not so good opportunities. Here are some ways I weed out the opportunities I pursue from the ones I pass on.

1. Are other people having success?
   1. Of those am I similar?
   2. Of those how am I different?
2. Has the opportunity been proven?
   1. How long has it been around?
3. Do I understand the Cost verses the Price I am considering?
   1. Price is what you pay
   2. Cost is what your pay + the value of lost opportunity