One surefire method to failure is failing to comprehend where one stands in a business arrangement. Underestimate your offering and you'll be taken advantage of. Overestimate your value and you'll be shown the door.
Successful businesspeople always understand their position.
I don't play chess but I often see business compared to the game. I'm more of a checkers guy. I also like the old board game of strategic battle known as Stratego.
Whether we're talking chess, checkers, or Stratego, the point is simple: you win by understanding your position and moving strategically better than your opponent does.
Your lesser pieces will never be more powerful than the opposition's king. Understand that and move accordingly. Business success has similarities. You win by moving in accordance with your position of strength.
Some people overestimate their value or demand. You see this when poorly managed small businesses are in an up cycle. All of a sudden, they stop advertising. They needlessly agitate customers. We're in the chips, the cocky, yet shortsighted business manager believes. Then comes the downturn. They go from booming to begging. If only they'd understood their position and realized their high was a blip, not a forever reality.
This happens to employees and businesses alike. They simply overvalue themselves. They overestimate their position. Which brings me to Lee.