Law of AverageOne of the tools that you can use wisely to develop success mindset is the Law of Average. Law of Average is a mathematical or statistical concept which states that the expectation that a possible event is bound to occur regularly with a frequency approximating to its probability. That means result of any given situation will be the average of all out comes. In other words, if you keep doing an activity X number of times, you bound to see a pattern in the results you get. For example, suppose you are a salesman and you are cold calling prospects to get an appointment. After calling, say 10 prospects you get 1 appointment. That means you have seen a pattern of 10:1 in your results. After 20 contacts, you get 2 appointments. Having realized this pattern, all you have to do is to call 100 people, if you want 10 appointments. As you continue to make more and more calls, your experience and knowledge will grow and you will become more skillful in getting appointments. This may eventually improve your ratio to 10:4, 10:6 or even 10:8. See, simply having an idea about Law of Average enables you to have persistency in your work. It has now become easy for you to practice perseverance in the face of rejection. You are empowered to eliminate the whole element of emotions from the sphere of your work. You learned that if you want to get X number of YESs you need to hear X number of NOs as well. Once you have your quota of NOs, you will definitely have your share of YESs. Lets try to see this in a different way with another example. Suppose you are experimenting with some marketing ideas for your product. You are trying different platforms in varied proportions to get maximum visibility. Here too you will see a pattern in the results you get. The more you experiment or try with different ideas; you will start seeing more successful results. But in order to see your success, you need see enough number of failures. As you understand and learn more about different marketing and persuasion strategies, your failure ratio will go down and success ratio will increase and you will see more and more successful outcomes down the line. Venture capitalists know this principle very well and utilize it in their business. From their prolong experience in the field of business and investing, they have clearly realized working of Law of Average. Out of every ten investments, four would fail miserably, that means they even wouldnt get back the money they invested. Three would be break even. Two would be moderately successful and one would be a super success. And from these last three successful investments VCs get all their profits which will lavishly compensate their failures in failed ventures as well. Here in order to get 3 successes they have to bear 7 failures. But an experienced person would not let any emotions come into the picture when he has to take tough investment and business decisions. All he has to do is to do his homework thoroughly and see the failure as an inevitable process along the path to success.