5 Ways to Maintain a Competitive Edge, No. 4: Be More Willing to Fail
Getting ahead isn't simply a matter of having a great idea, nor of being intelligent or improving your mastery in your chosen arena. The key is to focus on the edge that you can keep for the longer term. In this episode of Motley Fool Answers, Alison Southwick and Robert Brokamp are joined by former Fool Morgan Housel to talk about figuring out what your sustainable advantages are, both in investing and in life. He lays out five possible advantages that you and the businesses you invest in might already have, or want to cultivate, in service of acquiring an edge. The fourth: accept that the possibility of big failures is a prerequisite for big successes.
A full transcript follows the video.
Source: Fool.com
