My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
“Compromise is to make something lose lose”
What It Means
Traditional compromise forces both parties to give up value, creating suboptimal outcomes for everyone
Why It Matters
Challenges conventional wisdom about negotiation and points toward collaborative value creation instead
When It's True
When there are creative solutions possible that could satisfy both parties better than splitting the difference
When It's Risky
When time constraints require quick resolution, or when parties are inflexible about equal treatment
How to Apply
Look for asymmetric combinations that create more total value
Resist defaulting to 50/50 splits
Invest time in understanding what each party really contributes
Focus on outcome quality rather than input equality
Example Scenario
“Instead of splitting marketing budget 50/50 between partners, discover one excels at content (90%) while other provides distribution (10%), creating a 'steel-like' combination that's stronger than equal split.”