Opportunities are discovered and then exploited.
Discovery is where we assess the size and scale of the opportunity.
Exploitation is where we assess the cost of grabbing the opportunity.
Discovery: there’s $10 on Level 1 and $100 on Level 5
Exploitation: the cost of going to Level 1 is 8 units whilst the cost of going to Level 5 is 1000 units.
When we assess which opportunity to pursue, we should keep in mind the two steps of discovery and exploitation.