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?
Dennis Yu
Dennis Yu is co-author of the #1 best selling book on Amazon in social media, The Definitive Guide to TikTok Ads. He has spent a billion dollars on Facebook ads across his agencies and agencies he advises. Mr. Yu is the "million jobs" guy-- on a mission to create one million jobs via hands-on social media training, partnering with universities and professional organizations.
You can find him quoted in major publications and on television such as CNN, the Wall Street Journal, Washington Post, NPR, and LA Times. Clients have included Nike, Red Bull, the Golden State Warriors, Ashley Furniture, Quiznos-- down to local service businesses like real estate agents and dentists. He's spoken at over 750 conferences in 20 countries, having flown over 6 million miles in the last 30 years to train up young adults and business owners. He speaks for free as long as the organization believes in the job-creation mission and covers business class travel.
You can find him hiking tall mountains, eating chicken wings, and taking Kaqun oxygen baths-- likely in a city near you.
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