Common practice is often not the best practice. Whether you're an entrepreneur or investor, ask yourself "how else could I do it?"

Investors often tell themselves to stay focused a criteria. However there is a difference between staying focused and being rigid/non responsive to changing circumstances. What's more important is understanding your core purpose (9/10 times that's making money) and sticking to that. Whatever else happens should serve that purpose - especially in a world where technology and markets evolve fast.

You may disagree. Investment managers or corporate venture partners are hired to do a specific thing, and venturing outside of that checklist can be irresponsible.

Investment strategies can often be based on structures and procedures as they are built on a framework that has proven to work. It's more secure; hence the majority follow it. However, most of the time it's not the only way or the best way. A normal thing for an early-stage VC firm is to invest in small start-up. Union Square Ventures, however, stuck to the principle ( which is to invest in what has a pathway to profitability), but invested in an established public company. Simply because it was a good opportunity.

There's nothing wrong with constantly iterating on the "how". It's healthy.