4. Spell Out the Deal Before You Start
- Buffet also advises those looking to make their own personal fortunes to always know exactly what to expect to get out of any deal, before getting started. And not only themselves, but those to whom they are pitching a proposal. Or in other words, he advises against getting into anything with a “let’s see what happens” attitude where you may or may not come out with X amount of money at the end. If you aren’t 100% sure what you stand to get out of the deal, it may not be a deal that’s worth getting into.
