Embrace opportunities with limited downside, unlimited upside. The best deals are those where your risk of loss is predictable and fixed if things go wrong, while your potential gains are enormous if things go right. Take such deals whenever you can get them if the odds of success are halfway decent.
Steve PavlinaTreat your business relationships like friendships (or potential friendships). Formality puts up walls, and walls don't foster good business relationships. No one is loyal to a wall... except the one in China.
Steve PavlinaUnderstand that relationships are more important than contracts. Business deals are relationships between people. The signed piece of paper is important, but it's merely the result of the relationship, not the cause. If the relationship crumbles, the contract won't save you, although it could be very lucrative for your lawyer.
Steve Pavlina