There are no bad business and investment opportunities, but there are bad entrepreneurs and investors. To be a successful business owner and investor, you have to be emotionally neutral to winning and losing. Winning and losing are just part of the game. The size of your success is measured by the strength of your desire, the size of your dream and how you handle disappointment along the way.
You may remember the story of how the devil and a friend of his were walking down the street, when they saw ahead of them a man stoop down and pick up something from the ground, look at it, and put it away in his pocket. The friend said to the devil, "What did that man pick up?" "He picked up a piece of the truth," said the devil. "That is a very bad business for you, then," said his friend. "Oh, not at all," the devil replied, "I am going to help him organize it."
Success is not necessarily about connections, or cutting corners, or chamba - the three Cs of bad business. Call it trite, but believe me: success can be achieved through hard work, frugality, integrity, responsiveness to change, and most of all, boldness to dream.
Buying a share of a good business is better than buying a share of a bad business. One way to do this is to purchase a business that can invest its own money at high rates of return rather than purchasing a business that can only invest at lower ones. In other words, businesses that earn a high return on capital are better than businesses that earn a low return on capital.