Say X has an 80% chance of failing.
- So, X has a 20% chance of succeeding.
That means, you succeed 1 time for 5 tries (on average); or even better:
- You succeed 2 times for 10 tries.
- You suceed 5 times for 25 tries.
- You succeed 20 times for 100 tries.
- You succeed 100 times for 500 tries.
- Etc., etc., etc.
That is, the more times you try/experiment/test, the
more successes you'll find.
Why 9866996798664489 Business Owners Fail
- Bob: 'I give myself one shot to succeed.'
Therefore, Bob has an 80% chance of failing. Because Bob gives himself 1 try, the odds are overwhelmingly against him that he'll succeed once.
Don't Fail! Hooray!
The true path to succeeding as an entrepreneur (or at anything else)?
- Keep trying.
- Keep experimenting.
- Keep persisting.
The more you try, the more successes you'll find.
The statistics game favors you with the more number of tries/experiments/tests that you do.
How TV Networks Succeed
Networks know, based on past data, that a certain percentage of their new shows will succeed with audiences.
Therefore, they test X shows every season to give themselves the best shot at getting a target number of successes.
Why do you see a freakish string of low budget, new shows on ABC, NBC, FOX, etc. every season -- and why will you continue to see them every year?
They know the numbers rule:
- The more # of tries = the more # of successes.
Posted on December 16
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