Personal MBA: Risk Reversal

Nobody likes risk, and often we try our best to avoid it as much as possible. When we make purchases, especially large ones, it’s always nice to know that we can get our money back if we’re not satisfied. This “money back guarantee” or “lifetime warranty” is a strategy Kaufman refers to as “risk reversal.”

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Personal MBA: Critical Assumptions

We naturally make assumptions about everything every day during the course of our lives. Those assumptions, often times, are of little consequence, but when they are the basis of major business decisions, they reach the status of critical. Kaufman defines critical assumptions as, “facts or characteristics that must be true in the real world for your business or offering to be successful.”

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