Categories
Entrepreneurship

Count the Cost of That Next Opportunity with These 5 Questions

I have to admit, I recently learned really what a pro forma is. But I do know that knowing the cost, benefits and the upsides for new projects, or deals, is absolutely vital. I’ve learned this the hard way. For me it’s making sure you really weigh the cost with the potential of the opportunity.

So before you take on that next project, or make that next deal, or strategic partnership, here are 5 great questions to ask yourself, taken from Business Brilliant by Lewis Schiff.

  1. What will it cost to play?
  2. What will it cost to stay?
  3. How high is the ceiling?
  4. How hard is the floor?
  5. How big is the cherry on top?

I would then add … with all this in mind, is it now worth it?

This is the cold shower moment. It’s the time where you step down from dreamland and enter reality. It’s pretty sobering.

By the way, I highly, highly recommend Business Brilliant. I’ve been pouring over it for the last few weeks and the advice offered is true gold. This is just one of the awesome takeaways I’ll be using now and into the future.

Leave a Reply

Your email address will not be published. Required fields are marked *