Business models and the landscape for them change quickly. Several recent examples include Kodak's bankruptcy because they failed to embrace the new digital camera technology.  We all know that Amazon is wreaking havoc on the traditional brick and mortar stores.  Newspapers all over the country are folding because they are unable to compete with new online models.

The post office is one of the oldest institutions in America founded in 1789 as a government monopoly.  Benjamin Franklin added postmaster to his long list of activities.  Years ago in my corporate work, we received several bags of mail early each morning to be opened and sorted. Employees pulled out checks and deposited them, processed invoices for payment and prepared correspondence. Before I left the corporate position, there was movement to invoice clients electronically and receive payments by wire which reduced paperwork and postal mail.

When I was younger I lived in a Detroit suburb where there was a municipal park on Lake St. Clair. I liked fishing but didn’t have a boat so I frequently fished from the park pier. Most days I caught something and at least had an opportunity to fish. I learned that for two weeks at the end of May there would be a run of what we called silver bass. The current in the lake would brush up against the pier to create the moving water these fish liked. If you dropped a jig or small spinner in the right spot you could consistently catch 15 to 25 fish in a few hours. While these fish were not large, usually ranging between 10 and 14 inches, they were fun and easy to catch. However, when the run ended; the fish were gone. You either caught them during the short window or missed your opportunity. Likewise in business we need to access opportunities when they are available.

I have written before about the pitfalls of giving unsolicited or free advice. Recently “Connie” asked me to provide advice to an elderly lady about how to invest $150,000.  When I hear requests like this my first thought is they don’t want to pay an investment advisor because they don’t want to disclose all aspects of their finances.

I met with “Arthur” who wanted to start a business. During our conversation Arthur told me that the business owner, Dennis where he worked had promised to sell him the business in the future. However, later the owner’s son joined the company and Dennis began to transfer the business to his son.  Arthur understood that he had little choice but to accept the reality of the circumstance.

In another instance, “William” was promised the opportunity to become a partner in a business within two years. However the promise was not kept. When the business was sold several years later, William was out of a job.