Entrepreneurship Checklist
Pabrai described a process in which he searches widely for ideas to consider, a mode from which he shifts when he finds one that seems worthy of consideration. Then he starts to dig very deeply and if it seems promising, his excitement builds and he goes into ‘greed mode.’ Spier calls it ‘cocaine brain.’
The behavioral instincts kick in and start working against you. That’s when they have found checklists to be of great value: They keep you grounded and focused and attentive to the possibilities, good and bad.