- You travel to Las Vegas in a busted Pinto.
- You get there safely.
Did you make a good decision?
NO WAY BILLY B!
Yes, you got to your destination; but, your odds of getting to Vegas: tremendously against you.
For instance, out of ten tries, you'd probably:
- Get there safely 2 times.
- Fail 8 times.
Multiply bad decisions over time, and what happens?
- Yes, you'll generate a few successes.
- But, you'll net a horrifically number of horrible results -- rendering your successes moot.
Entrepreneurs/companies/peeps can mistake a few successes for good decisions; in reality, those flawed decisions will ultimately catch up to them.
Instead, make good decisions that will statistically pull you ahead in the long-run.
Why Immediate Results Don't Matter
You're playing a game of Blackjack.
- You have a 20.
- The dealer shows 19.
- Do you raise?
Let's say you you stay put with your 20.
- The dealer hits.
- He gets a 2.
He just rocked your money, where you go home crying to mama.
Did you really make a good decision?
Of course, you did. You'd win 90% of the time if you were in the same situation.
Now, let's say you had 19.
The dealer had the same 19.
- He hits.
- He gets a 2.
Did the dealer make a good decision?
NO WAY CHARLIE CEEBEE!
The dealer would lose almost every single time if he had committed that same move.
Immediate results don't matter; what decisions you make over time do.
Don't Mistake Good Results for Good Decisions
If some self-proclaimed business guru tells you to do X because he succeeded doing X -- that might just mean he used a severely busted-up Pinto to get his destination.
- That is, dude got lucky using a horrifically horrible decision -- that statistically, would've destroyed his journey.
Just because you know/heard some super-successful Schmo who works tirelessly until 3 a.m, it doesn't mean he's making a good decision.
(Hint: He's succeeding despite the faulty decision.)
You can make ridiculously bad decisions, and still win -- but relying on those bad decisions over time will destroy you in the long-run, or at least seriously stunt your growth.
Good decisions every tick. Win.
Posted on April 27
Next tip »