SCRIPTURE: Turn away from evil and do good. (Psalm 34:14) THE ENTREPRENEUR’S REFLECTION
Charlie Munger said, “Tell me where I’m going to die so I never go there.” This is Inversion. Instead of trying to be brilliant, just try to avoid being stupid. Instead of asking, “How do I make my company great?”, ask, “What would destroy my company?”
Running out of cash? -> Build a cash reserve. Getting sued? -> Get contracts signed.
Bad reputation? -> Deliver on time.
Success is often just the absence of fatal mistakes. Block the exits before you try to expand the entrance.
THE EXECUTION PROTOCOL
The Pre-Mortem: Imagine it is Dec 31, 2026, and your business has failed. Write down the 3 reasons why it happened.
The Defense Plan: Write one preventative measure for each of those 3 reasons.
Risk Mitigation: Back up your data today.
