Magazine article Success

The Frequency Formula: Why Things Work over Time, but Not Every Time

Magazine article Success

The Frequency Formula: Why Things Work over Time, but Not Every Time

Article excerpt

One major frustration facing new entrepreneurs and managers, particularly in sales, is the fact that even a process that works most of the time does not work every time.

When it comes to predicting the weather (70 percent chance of rain today), illness (15 percent chance of getting the flu), or business success (50 percent of a new business failing), our lives seem ruled by statistics. But statistics are only relevant after you have tried a process a significant number of times--what mathematicians call "having enough frequency."

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To create wealth you've got to have a formula. If you just try something two or three times and it doesn't work, it doesn't mean you should give up. In fact, everyone who creates wealth has a formula that they've repeated again and again--and their process (or formula) works most of the time.

For example, you may have a sales process that succeeds with more than 50 percent of your qualified prospects, yet a new salesperson may fail again and again, only to give up in frustration.

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Here's an exercise I use to teach frequency to new employees and students.

I ask the person to flip a coin 10 times and record the results. Most people think it's going to be an even five-five split between heads and tails. It's not--it's often seven, eight or even nine heads. Then I ask them to continue flipping the coin 90 more times (100 total)--and it's almost always 51 to 49 heads or tails. …

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