What if I’m Wrong?

“What if I’m wrong? If I am wrong, what could the right answer look like?”

Big opportunities are around us all the time.

After studying others that have a unique ability to take advantage of big opportunities I’ve found three distinct things:

Perspective. The biggest opportunities require unique perspective. Blockbuster passed on buying Netflix, because it lacked the right perspective.

Now, I’m aware that this is an overused example, but remember, there were really smart people working for Blockbuster. Many times we write people off as dumb or out of touch, when in fact they just had a different perspective. Blockbuster had been renting movies since 1985, they had more experience and a much different perspective on the industry.

How you see things will dictate your ability to see and pursue the right opportunities.

It’s important to question your own perspective often. One of my favorites things to ask myself is: “What if I’m wrong? If I am wrong, what could the right answer look like?”

Constant pursuit of better perspective.

Perseverance. We overestimate the value of an idea and undervalue the work and perseverance it takes to make it a reality.

Magic Cab was the ride hailing app before Uber. It was the 90 Billion dollar idea that was worth nothing without the tenacity of Travis Kalanick.

Ideas are easy, there are world changing ideas floating around in our heads constantly. The work ethic and knowledge to put together systems and execution is a skillset very few have.

As Thomas Edison said; “Opportunity is missed by most people because it is dressed in overalls and looks like work.”

Positioning. This is one of my favorites because I feel it’s the least discussed.

I believe people should not chase the BIGGEST opportunities. I believe YOU should pursue the BEST opportunities YOU are uniquely positioned to take advantage of.

We often get distracted by others and start chasing shiny objects. I have talked to doctors who tell me they want to get into flipping houses. They’ve worked for years and invested thousands to get into a position and are willing to throw it away to start at the same position as everyone else.

We all have unique abilities and unique situations. Look for opportunities that can benefit from what you bring to the table. All opportunities are different, the question is: what is the opportunity that YOU are uniquely positioned to take advantage of?

If it’s an opportunity for everyone, it’s probably not a big one.

Lastly and most importantly (if you’ve made it this far you get the good stuff): great opportunities are a product of driving great outcomes.

If you want to get more opportunities, create better results. Opportunities appear for people that are getting the job done.

I recently invested with my friend Logan on one of his biggest projects and opportunities yet. He started at zero, buying and selling cheap vacant lots.

He had the Perseverance to work up to where he is.

He had the Positioning, with a track record of great results and experience to be able to raise the money he needed for the project in less than a week.

He had the Perspective to be able to see all the reasons and the ways that it was a great deal and project. This is after a major, national builder had walked away from the same deal.

If the same “opportunity” were presented to me, I wouldn’t have been able to see it, understand it, and capitalize on it the way he did.

As always, this could be terrible advice.

-tim.