The law of averages helps you stay persistent and positive

Probably the one most important thing for an entrepreneur to do is to stay positive.  Sometimes this can be difficult when facing 100 nos in a row.  However, if you understand the law of averages in the scenario you are facing, 100 nos may mean you are 90% of the way to the one yes you need to succeed. If you knew this up front, it would be easy to stay persistent and positive after each no.

This is more or less the insight I gleaned from reading a blog post written by the founder & CEO of Buffer, Joel Gascoigne.  Joel calls this concept Ratio Thinking.  He states:

As soon as I accepted that the whole world works in ratios, that’s when it became easier. Knowing that success happens in ratios allowed me to go ahead and send that email, without worrying about not getting a response, about ‘failing’.

Read Joel’s full blog post here.

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