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Warren Buffet once said it perfectly "It's good to learn from your mistakes. It's better to learn from other people's mistakes."

 

The owner of a large dealership of a reputed automobile company got to know that his friend (also an automobile entrepreneur) recently suffered a huge loss due to a fire breakout at his showroom cum workshop.

 

The latter committed a sinful mistake resulting in underinsurance of his showroom's assets.

 

As a result, he wasn't adequately compensated.

 

This incident was a real eye-opener for the former.

 

What steps did he take to avoid committing the same mistake/being in a similar situation?

 

Read👇

 

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Uploaded on July 29, 2022