Here’s an interesting thing I learned when I used to consult for venture capital firms. If all goes according to plan…
Out of a ton of potential deals, a VC firm will invest in 10 companies.
5 of those will go bankrupt. They know this and expect it.
3 of them will “trade sideways,” meaning they’ll basically putter along.
But 1 of them will be a huge hit. Like Google/Uber-worthy hits. That single deal pays for everything else.
What are the interesting things to take away from this example?
- After a while, you can build a model of what you expect and optimize for it. For example, I used to get random speeding tickets, but then I realized I could predict when I would get them, so I built them into my automation model.
- Being the best is way, way better than being #2. Like 1,000x better.
I want to talk about studying the best, because I’ve noticed too many people studying nutjobs and weirdos and thinking it’s okay.
I see people buying courses from some random guy living in his mom’s basement, selling an ebook on how to make a billion dollars, and I want to put my head in my hands.
I’d rather introduce you to amazing, successful entrepreneurs who can show you new ways to think. There’s major value in learning from the best: They’ve seen tons of scenarios, they’ve surrounded themselves with better people, and they’ve gotten more “at-bat” opportunities than almost anyone else.
To do that, I went to one of the most successful consultants in the world. In fact, if you google “helping successful leaders,” you’ll notice something strange. Virtually all of the 3,530 search results point to one person: Dr. Marshall Goldsmith.