Sometime ago I had read a book called Liar’s Poker by Michael Lewis. It was the story of Solomon Brothers during their heydays — how did the company work, how did it rise to glory and how did it fall. If you get a chance, I recommend that you read it.

In that very book I had read about a game that the brokers at Solomon Brothers used to play. They used to call it the “What-If” game and the essence of it was the people playing this game would think of things “that could happen” in the world and then they would talk about how they would profit from it if that thing happened.

And why would they do something like this? So that if something like the situation they thought of actually happened then they would already know what they can do to profit from the situation.

The moment I read this thing, it was an ah-ha moment for me. Being prepared for something gives you a real edge over those who would have never anticipated it happening.

Here’s an idea for you — think of all the things that can happen in your industry and then think what would you do if they happened. Even if those things never happen, you will be a lot better prepared for things that might be even an iota similar to what you thought about.