What if 1% of the time, you’d make a million dollars and the other 99% cost you a few dollars and a few hours each attempt?
Are you okay with a 99% success rate?
What if it’s an airplane that crashed 1% of the time, killing everyone on board, but 99% of the time they land just fine?
When it comes to Facebook ads, I’m okay with failing 99% of the time, since the risk is the cost of my time to make a one-minute video and spend a dollar a day.
When it comes to people, even a 1% failure rate is high– I don’t want to see anyone crash. And we don’t want to let the wrong people into the program– who aren’t long-term players and don’t share the vision.
When are you willing to accept a 99% failure rate and when is even a 1% failure rate unacceptable?