- We have 1 shot to succeed.
- If we can't hit the homerun on our first at-bat, we fail.
- We have 98659858964 shots to succeed.
- As long as we keep trying, we will succeed.
Wut wut wut.
Shibimbo invents a super sweet product.
- OMG! OMG! I'm so excited. OMG!
- Let's invest everything into infomercials!
- We will win! OMG!
Infomercial happens, Shibimbo fails; Shibimbo goes bankrupt; Shibimbo cries like an ostrich who just lost his mother to diabetes because she ate too many Big Macs while drinking orange juice in the hood.
Take This Rule of Business Success
Everything you do has an X percent chance that it will succeed (i.e., give you a positive return on your investment).
- Because the odds to succeed are usually low, when you do 1 thing, the odds of you failing: HIGH.
- When you try many things? The odds of you succeeding: HIGH.
Avoid putting everything into one basket (e.g. "We will market to these people, and we'll let them define our success. OH YES WE WILL")
Entrepreneurs normally fail because they give themselves one shot to succeed; it's akin to a baseball player giving himself one at-bat to hit a homerun.
Instead, spread your eggs to give you as many shots to succeed as possible (e.g., We'll market to these readers; if that doesn't work, we'll try advertising on Google; and if that doesn't work, we'll try PR, etc., etc.)
The try-a-bunch-of-things approach goes with anything:
- Finding a good product idea.
- Finding a good team.
- Finding a good strategy.
- Finding a good way to innovate.
- Finding a good way to get customers.
Then when you find the success that you've been chasing, jump on it like it just stole your momma's briefcase that she bought in Antartica because it was too cold there so she bought the briefcase.
Try 98659964498537886488548 things.
Posted on January 08
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