What is The Law of Averages in Network Marketing?
When you understand the law of averagesin life, you'll realize that it's possible to be successful at anything you do.
Have you ever done sales but deal with potential customers that didn't want to buy from you? Or play a sport with friends or strangers, but for some reason, you just can't make the score? Yeah, it's definitely a terrible feeling, but you're not giving up on yourself, right?
Eventually, you'll have to practice and get better unless you decided you had given up on yourself. If you chose the route to practice and get better, then this is where the law of averages comes into play.
By definition, the law of averages in life is an inaccurate generalization of the law of large numbers, which means that the number of events and the same likelihood of occurrences can change if given enough trials or instances.Â
To put it into a much simpler definition, you have a higher chance of changing your outcome if you continue to find the results through trial and error. It'll take tons of self-discipline and consistency, but eventually, you will see that the outcome that you're trying to achieve is quite possible.
When it comes to acquiring new skills and learning them, knowing the law of averages has been proven to be quite effective.
Examples for The Law of Averages:
Example 1: Basketball Shots
Let's say you're trying to shoot a basketball into a hoop but constantly miss. It's frustrating, right? After about ten shots, you eventually make one and all of a sudden, it feels good. Finally, your first shot.
You decided that you should continue shooting and practicing, where you'll eventually develop muscle memory to where you can make even more shots.
And from your many trial and errors of missing hoops, you're finally making two out of ten shots. Because of your constant failure through trial and error, you're learning not to miss those shots from practicing.
After about a thousand shots, you're finally making one out of every two.
I'm sure you've heard of the famous Steph Curry from the Golden State Warriors.
Did you know that Steph Curry hasn't missed a free throw shot during a postseason game in nearly four years?
That's insane statistics if you really think about it. But what do you think he does every day that many others don't do? Steph Curry spends hours every day perfecting and mastering his free throws.
Example 2: Sales
You just got hired at a company for a sales position. You're still a beginner and inexperienced.
Whether it's door-to-door sales or cold-calling potential clients, you just can't seem to be getting anyone interested.
In the law of averages, if you continue knocking doors or calling clients, you'll eventually get someone that's interested.
Even if you get a hundred "no," you'll eventually get someone that's a yes. Your outcome and results will change for the better as you experience more practice from dealing with customers.
Law of Averages: Quotes
Below are some of my favorite law of averages quotes.
This one from Bruce Lee about the law of averages in quite motivational. You just have to put in more effort if you're not seeing the results that you want. If you're asking for a better outcome, the outcome is expecting harder work from you.
If I want to be rich, then should I just work at my regular job? No, I have to put in an effort such as creating streamlines of income and experimenting with ways to success. Only YOU can change your outcome.
Here's another one from an American author.
In this quote by Jim Cathcart, an American author says that you will get results if you attract it simply by working towards your goal(s). Listen to Jim Cathcart! Don't give up and continue striving for success.
If you want to become a writer, then work towards becoming one. If you want to be a video game streamer, you have the power of the internet.
Questions About The Law of Averages: Quora Questions
Is the law of averages (Quora) an illusion?
the law of averages is no illusion, but it applies only to averages. - Aaron Brown, MBA Finance & Statistics, The University of Chicago Booth School of Business (1982)
Brown stated that it's only the averages that tend toward their value when it comes to the long-term. Let's say you flip a coin one time, you will end up with either 0% or 100% tails/heads. If you choose to continue flipping the coin, the averages will get closer to 50% (not with every flip) eventually.
Do you find the law of averages consistent with free will?
I’m not sure how the law of averages is inconsistent with the concept of free will. - John DeMarco, artist, author, and scientist of the zen-dao x-gnosis
According to John DeMarco from Quora, an average is a quantity, rating, or the like that corresponds to approximates in arithmetic means. They're usually used as means for determining patterns usually for random occurrences.
One of the examples that DeMarco stated, was if free tuition were all of a sudden available in the US, and students from schools weren't pressured to enter the working world, then we're likely seeing the average shift.
One thing to be considering is that an average while having particular meanings with numbers because of their firmness in value, usually becomes an abstract concept when you're dealing with individuals.
Whatever you're doing and no matter what it is, at any time, could be data for statistics. At the moment, you're most likely using an internet device to read this article - you're a statistic.
Law of Averages PDF Files
- http://wmbriggs.com/public/briggs_breaking_law_averages.pdf
- http://www.math.caltech.edu/~2016-17/2term/ma003/Notes/Lecture07.pdf
- http://www.stat.ucla.edu/~vlew/stat10/lectures/fa041008.pdf
- https://www.math.ucla.edu/~tim/entropyprob.pdf
Law of Averages: From My Experience
I've worked for many sales departments before in the past. I've learned a lot about the law of averages at one of my departments where I've worked in the past. From my experience, those that continued on aiming for clients no matter how many times they've failed, they usually end up being the most successful people.
I've seen a salesperson with a lack of experience in sales, yet he continued on calling clients and made the most sales by the end of the month.
We were taught about the law of averages and everyone was motivated. If you want success or see results, don't be hesitant to chase after it.
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