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Wealth & Economics > Make impossible happen or engage in something with higher chances?

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message 1: by Nik (new)

Nik Krasno | 14870 comments Similar to successful authors that like to share experiences and write 'how to's, some billionaires and CEOs also feel like giving advices to aspiring businessmen.
Some advice is identical, some contradictory. Some stress that persistance can do wonders and help you prevail in any enterprise despite competition and low probability, while others recommend not to waste time on something less than exciting and with reasonably high chances for success, for making improbable possible requires a lot of precious time and effort.
In business, writing, anything really nothing is guaranteed: you can be persistent and still fail/succeed and you can take something with high chances for success and equally fail/succeed.
What's the better approach in your opinion?


message 2: by GR (last edited Oct 20, 2016 02:04AM) (new)

GR Oliver | 479 comments There is no good advice. They all say the same thing. I've read all the books the selfies have produce on how to succeed, and they just go around and around. I stopped listening and started doing.

Just do it, love it, embrace it, and don't worry about success. That is the responsibility to yourself, not to anybody else. You have to find your own way.


message 3: by Mehreen (new)

Mehreen Ahmed (mehreen2) | 1911 comments GR wrote: "Just do it, love it, embrace it, and don't worry about success."
Seconded.


message 4: by Michel (new)

Michel Poulin Those that are obsessed with success tend to eventually lose most of their friends (the true ones at the least).


message 5: by Kevin (new)

Kevin Kuhn (kevinkuhn) | 45 comments Just read a relevant book titled 'Grit'. Basically, talent and intelligence are overrated. Persistence and passion are main drivers to success. If you want to be a successful writer get passionate and work at it for 10 years.


message 6: by Nik (new)

Nik Krasno | 14870 comments Kevin wrote: "If you want to be a successful writer get passionate and work at it for 10 years. ..."

What's the probability, Kevin?


message 7: by Nik (new)

Nik Krasno | 14870 comments Michel wrote: "Those that are obsessed with success tend to eventually lose most of their friends (the true ones at the least)."

If they forget to value anything else - then surely


message 8: by Nik (new)

Nik Krasno | 14870 comments How do you answer the opening question?


message 9: by Ian (new)

Ian Miller | 10656 comments You can't make the impossible happen. My view is persistence is required, but it will still fail most of the time for the highly improbable. So the way to succeed is to engage in activities with a higher rate of success. The problem then comes from game theory - the options with the highest rate of success have the most competition, hence the lower rate of return when you strike. So now the issue changes from, "high rate of success, modest return" (in my case, my day job) to "low rate of success, but potentially a high rate of return if it strikes". So dar, not a lot of luck with that ":-(


message 10: by Graeme (new)

Graeme Rodaughan I do not believe that success is guaranteed. The bottom line for me is that I have a passion for telling stories and i'll keep doing that while I have a passion for it.

I hope that I will sell a few books and I actively engaged in attempting to do that.

But frankly, if the only person who read my books was my wife - I would still write them.


message 11: by Nik (new)

Nik Krasno | 14870 comments Graeme wrote: "if the only person who read my books was my wife..."

Not sure even that is granted for some -:)


message 12: by Nik (new)

Nik Krasno | 14870 comments So, put all your weight behind something or be flexible with a few courses to capitalize on where the progress seems the best?


message 13: by Ian (new)

Ian Miller | 10656 comments As for courses, the question then is, since you have to pay for them, what is the rate of return? Why is the person giving courses? (As opposed to following his own advice and making buckets of loot?)


message 14: by Nik (new)

Nik Krasno | 14870 comments Ian wrote: "As for courses, the question then is, since you have to pay for them, what is the rate of return? Why is the person giving courses? (As opposed to following his own advice and making buckets of loot?)"

Meant courses of action here. Whether we persist with only one or change route frequently to see where it works best, in each pattern we hope it'll pay off one day. Sometimes persistence will work, sometimes hopping from one thing to another, sometimes - neither.


message 15: by Ian (new)

Ian Miller | 10656 comments Ah, what to do to improve things. A very difficult question; wish I had a good answer.


message 16: by Lizzie (new)

Lizzie | 1753 comments Nik wrote: "So, put all your weight behind something or be flexible with a few courses to capitalize on where the progress seems the best?"

To succeed at the improbable seems to require luck, IMO. Since I don't ever feel like I will be lucky, I would be doing the 2nd = track my options and then put efforts where the progress is best.


message 17: by Scout (new)

Scout (goodreadscomscout) | 5776 comments Nik, what do you do when you have a situation that you can't control, in your personal life or business? You've done everything possible and that's no enough?


message 18: by Nik (new)

Nik Krasno | 14870 comments Scout wrote: "Nik, what do you do when you have a situation that you can't control, in your personal life or business? You've done everything possible and that's no enough?"

I'm not a kind of person banging my head against the wall for a long time. If I tried and nothing works, time to move on or, if impossible, accept it as it is. Neither can I create something from scratch and see it through. I remember watching the film Joy about Joy Mangano and her Miracle Mop and was admitting to myself that I would've been long out of it in her stead.
I'm more into exploring opportunities, which the life avails. Also performing my commitments.


message 19: by Scout (new)

Scout (goodreadscomscout) | 5776 comments So you don't stick with something that looks like a losing proposition, although others have done so and succeeded. It's a matter of personal temperament; some people stick with it to the end, and others just change course. That makes sense in business, but when it comes to children, sticking with it to the end is, in my experience, the best choice.


message 20: by Nik (new)

Nik Krasno | 14870 comments There is no such axiom that if one sticks with something, eventually he or she will succeed. Trying leaves one in the game, but success is just as likely as a failure. A friend of mine was just forced out of his gym chain by creditors. He was struggling for a long time, doing everything possible and impossible even. A sad story. However, sometimes efforts pay off, of course.
Children, in my opinion, are not in the same category. One can’t move on. It’s an irrevocable commitment


message 21: by Scout (new)

Scout (goodreadscomscout) | 5776 comments True, and I didn't pose a fair question.


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