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Persistence Power

Tuesday, September 8th, 2009
Posted in Advice by Joel Gross

Persistence is the number one factor in whether someone is successful in business and other areas of life or not.  Persistence is far more important than intelligence, looks, physical strength, or anything else.  Below is a simple, but 100% accurate article from Trizle on how to be successful:

Take Jimbo.

  1. Jimbo takes years to build his business.
  2. The economy sours. He runs out of cash.
  3. He quits business.

He gives up forever and ever.

Take Jimbalyathewinner:

  1. Jimbalyathewinner takes years to build her business.
  2. The economy sours. She runs out of cash.
  3. She continues building her business on the side.
  4. She persists.

And persists. And persists. And persists. And persists. And persists. And persists.

And eventually, she bumps into ridiculously profitable business.

  • The power of persistence = trite, over-indulgent, wisdom that’s mostly ignored.

But, it’s one of the most powerful mechanisms to make your business succeed.

Persistence Mathematically Works

Peep this:

  1. Google, P&G, 3M, and every other ridiculous innovator knows that every product they release won’t be profitable.
  2. They know that every product comes with a high probability of failure.

So assume this:

  1. Your first try has a 10% chance of succeeding.
  2. Two tries? 31.6%
  3. Three tries? 46.4%
  4. 10 tries? 79.4%

(The equation: Your chance of success = 0.10^(1/X) —— where X is your # of tries, based on the assumption that there’s a 10% chance of succeeding)

It’s like this:

  1. You can play a game of cards with odds stacked against you.
  2. The more you try, the likelier you will succeed at least one time.

And, opposed to Vegas, succeeding in business just takes one win to establish your business for a profitable long-term.

You haven’t succeeded?

Don’t cry. Dry your eye. BAM.

Keep trying. You’ll get there.

Persist like a chicken wing.