Appraising Business Ideas

Authors Jeffrey Pfeffer & Robert I. Sutto offer 7 rules to keep in mind when evaluating or developing business ideas.

  1. Make sure the cause came before the effect.
  2. Remember that correlation does not mean causation.
  3. Don’t rely on success (and failure) stories.
  4. Be suspicious of gurus and breakthroughs.
  5. Take a dispassionate approach to ideologies and theories.
  6. Treat old ideas as if they are old ideas.
  7. Admit uncertainties and drawbacks.
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