How to Win at Elder Scrolls Oblivion

I've been playing Elder Scrolls IV: Oblivion by engaging for a short while every now and then on the XBox.  Yesterday, I found myself confronted with a Will o' the Wisp.  Apparently they're impervious to regular weapons and I had no irregular weapons: e.g. silver, Dwarven, obsidian, living vegetable matter, rainbow, whatever.  So I ran away.  And I got away.  But I couldn't find a silver weapon at the shop, and when I left town, I once again encountered the damned thing lurking near a horse.  Rather than attack the horse, it attacked me.  I died.  I reloaded, just like in real life.  And then ran away, just like in real life, with the thing following me through the trees, across water, and down well-trodden paths.  I ran past the person I was leading on my current quest and a nearby city guard.  Both of whom died, leaving me a message that my quest was no longer achievable.  I ran past a farmer.  Who was also killed.  Past another farmer and a dude at the stables - perhaps a groomer.  Both of those innocent bystanders also died.  I ran past a magician.  Who died.  Past another city guard, who died but seemed to be at least holding his own for a while.  Then the damn-ed thing perished.  I spent the next 30 minutes following my zig-zagging, over hill and dale, path backwards collecting armor, weapons, potions, yarn, silverware, vegetables, and farm implements.  Amongst the take was a silver sword.  Future will o' the wisp problems solved.  And I didn't even have to waste any gold.  Simply make your problem everyone else's problem, and things get easier.  There's a business lesson there, isn't there?