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What’s the Best That Could Happen?

In my personal life right now I’m doing something incredibly stupid.

I’m pursuing something with a very low chance of success at the expense of things where the chances of success are very high.

This is exactly the opposite of the approach I’d suggest people take in investing but I think it offers a worthwhile lesson.

I was talking to a girl about modelling the other day.  She’d just started and was immediately fairly disenchanted with the process commenting “there’s a lot of models out there and most models don’t make a lot of money”.  These are both true statements but they ignore the bigger picture that she’s not most models and there are some models who do fantastically well.

As entrepreneurs we take a giant leap getting into business for ourselves.  The stats are against us depending on who you believe 80% of businesses fail but worse than that most never amount to any spectacular success.  Our actions are born not of what is likely but what is possible.

Instead of asking “what’s likely to happen?” we ask “what’s the best that could happen?”

The thing is this people aren’t statistics.  Our outcomes aren’t determined by the bell curve they are determined by a whole variety of factors principle among them being what choices we make and what actions we take over and over again.  In other words we influence our outcome we don’t have to settle for what everyone else gets.

Look at someone like Elon Musk creating a car company and a Space company.  The probability of failure in both of those industries was extremely high.  The challenges were almost insurmountable.  But guess what?  Tesla and Space X are both thriving ventures today.

Living an amazing life, creating amazing change, these do not come from just thinking “what’s the best that could happen?”  It’s equally important to consider everything that could go wrong and work around it.  But it’s hard to achieve those amazing things without asking “what’s the best that could happen?”  And it’s only after choosing something incredible that we put on our black hat to consider what might go wrong and get to work to make sure it doesn’t.