MISTAKES UNDERDOG MAKE WITH MONEY OR BUSINESS

 Not keeping things simple and honest. Not that we haven=t all tried to embellish the truth at one time or another, but it rarely works, and not for long. Once you are labeled as less than honest, it is very hard to lose that label.
 Going against, instead of with, the flow of events. Instead, try to divert it or use it to your advantage. Be careful to stay within the rules.
 Rushing headlong into action. Other people will judge you very quickly, so it pays to think and find out more information before acting.
 Ignoring the unintended consequences of your actions. Whenever you are handling money o r making decisions about it, your action may have an impact on someone else or somewhere else in your own life. Make sure you think about those, and make sure you can live with them. And make sure you can live with whatever sacrifices you decide to make.
 Working on the Wrong Problem. Are you sure the weakness in your situation is what is setting you back the most? Make sure you know what the problem is, so you can focus on that, and not less important things.
 Not Specifying Your Objectives Enough. Every move you make, everything you do has to move you closer to a clear goal. Make sure you know what that goal is. If you want to own a car, what do you need? If you want to start a business, what do you need, and by when?
 Not Developing Enough Alternatives. When you are trying to buy a car or start a business, make sure you have a broad enough range of possibilities to make a good decision. And if one thing doesn’t work out, have a second plan to try.
 Disregarding Uncertainty. Always expect the unexpected, because it will happen at least once.
 Failing To Account For Your Risk Tolerance. No one is perfect, with great foresight, reliable information, fabulous intuition, and nerves of steel. Be aware of how much risk you are willing to take, and how much the rest of the people involved, in your family or in your business, are willing to take. Then stay below that threshold. Otherwise, the situation will be plagued by (even more) conflict.
 Failing to Plan Ahead When Decisions Are Linked Over Time. It is the easiest thing in the world to not notice a domino effect. You need to plot your actions backwards from the deadline you have set yourself.
 Not Trusting your Intuition. In strategy, it is important to work easily with the non-rational part of your brain. This tactic dimension is critical at the outset, although it stays important throughout.