Man In The Masses - Part 1

Larry Weidel explains how to make success predictable by understanding human behavior in groups and as individuals. Insurance actuaries, casinos, and grocery stores all use mass behavior to forecast outcomes. Knowing the odds and staying positive when starting something new matters.
Alright, let's talk about making success predictable. Whenever you're starting something new, you don't have anybody believe you. They don't understand your idea, they don't know what's going on. And you've got to go out and market your idea. But how can you go out there? It'll always seem in the beginning like everybody's going to say no. So how can you make some sense out of this thing and let yourself know that if you stay on track, you can be successful. First of all, you got to know how to people work. If you talk about people as individuals, let's just go out here and talk about man as an individual. Man as an individual, he is going to be totally unpredictable. This is why starting anything new is so frustrating. Seems like everybody you talk to says no, no, no, no, no. When they do say yes, you're not really sure why they said yes. And so it becomes very frustrating. But it's only frustrating because you're dealing with individuals and you haven't had a chance to really talk to a lot of people yet. Because the other side of the coin is man in the masses is totally predictable. Now the good news about that is that once you know the odds, you can set yourself up for success. You can make success a statistical event. You can almost make the impossible, you know, the non guaranteed, guaranteed, in other words, by the activity that you do. Once you know the numbers, if you know how the masses will respond, you can have predictable success. This is the technique used by insurance actuaries. If they insure somebody who's 31 years old for $100,000, they don't really know how much to put aside for reserves. You know what the odds are in that person. But they out of a thousand or ten thousand actuaries, they know on one they don't know. But out of a thousand they're going to know. The averages are going to start to settle in and by 10,000 they're going to know exactly. Out of 10,000 people age 31, they're going to know exactly what that number is in an individual year who will die. See, they've got enough history to go for. Because man is an individual, totally unpredictable. Man in the masses, totally predictable. Let's take the example of casinos. If you go into a casino, they don't know if someone who walks in the door, if you walk in the door, they don't know what you're going to bet. They don't know how much money you have in your pocket, they don't know how long you're going to be there. But they know if there is 1000 you's come through the door, they know exactly how much they're going to wind up with at the end of the day. That's why they have all these free buffets and free rooms and free things to draw you in. Specials. They make sure the airlines have cheap flights. They just want to get you to Las Vegas. That's why also, it applies to grocery stores. If you have a grocery store, you walk into a grocery store, they don't know you walk in, you're pushing your cart. They don't know if you're going to buy one thing around, what are you going to buy? They don't know. Big question mark. But they do know if they have traffic and there's 1,000 people walk through that door during the day, they know they're going to have some people that will buy 100, $200 worth of stuff, some will buy 50, a lot will buy a little bit. And they're going to know pretty much what they're. They're going to be able to guarantee within a very narrow thing what their revenue is. And so what we're talking about right here, this is how you can guarantee success for yourself, more or less guarantee success for yourself, or at least make success predictable. And take it from a totally irrational, unpredictable thing, which it is when you're dealing with individuals, and turn it into a totally predictable thing when you're dealing with the masses. Once you know what the odds are, the key is since you know when you're starting something new, if you deal with an individual, you're going to be frustrated. Once you deal with the masses and you learn what are the odds, you figure those odds out. Now you can set things up to succeed big time. You can make success predictable. And this is how all great businesses work. And as you start something new, make sure you know the main thing is to keep your attitude up, your activity up, your interest level up. And it's hard to do that if you feel like you're fighting a lost cause. It's never going to work. But once you get these ratios in line, once you find out what these odds of success are, what target market, I just can't talk to anybody, but who are the people respond to this thing? How can I market to them? Once you get those numbers working, you pretty much could work your way into a pattern where success becomes inevitable. You'll never know the amount, you'll never know how fast, but you can put the odds of success in your favor and pretty much make success inevitable. That's man in the Masses, Part one.
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