KLE 112: How To Beat The Odds
“A 10% chance is pretty unlikely, but everyone knows that a one-in-a-million chance is a sure thing!” [Anon.]
Finding – or starting – a business that grows at 50%+ every single year, compounded, is a pretty rare thing … yet, that’s exactly what you need to do if you chose business as your Growth Vehicle (KLE68).
If you don’t start the business – and, make it reach these growth rates – you won’t reach your Number. It’s as simple as that!
So, it would make sense to try and find a business that can grow exponentially, right?
For example, there have been scientific studies that show that the odds of mega-success (the type of success that you need) in, say, retail food businesses (e.g. sandwich shops) are 840 times smaller than starting, say, a computer business.
So, how do you choose a business that meets (or beats) the odds?
You don’t!
As we saw in the case of Bryant, who went on to take Peter’s little sandwich shop and turn it into Potbelly’s, becoming a billionaire in just 10 years (KLE111):
It’s not the business that you buy (or start) that’s important, but what you do with it that counts.
You see:
YOUR odds of succeeding in any business venture are exactly 50/50 … either you WILL or you WON’T succeed!
And, whether you succeed or not, will largely depend on one thing:
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Before you do that, you should ask some key questions that I will provide in the next KLE.
