Appraisal

Cost

"For which of you, desiring to build a tower, does not first sit down and count the cost, whether he has enough to complete it? Otherwise, when he has laid a foundation and is not able to finish, all who see it begin to mock him, saying, ‘This man began to build and was not able to finish.’" - Luke 14:28-30 ESV

Failure

The primary causes of failure are:

  1. Not knowing the cost
  2. Being unwilling or unable to pay the cost

Redirection

  • If you don't know the cost, either learn the cost or find a new goal
  • If you are unwilling or unable to pay the cost, find a new goal

You can spend a lot of time building around an idea [...] before it occurs to you that the simplest solution is to get a better one. - Valve

Priorities

Time, cost, quality—pick two

  • When evaluating cost, determine your priorities

Value

  • Beyond standard failure and into the realm of success is another form of failure: overvaluing a goal
  • A venture can effectively fail if success is overvalued to the point that the cost exceeds the benefit
  • As with most of life, business is about appraisal—knowing the value of a thing

Application

Before setting out on a venture:

  1. Learn the value
  2. Learn the cost
  3. Weigh the value and the cost

Loop: Communication Index Next: Vision