What is the Law of Averages?
As Merriam Webster puts it, “The commonsense observation that probability influences everyday life so that over the long term the possible outcomes of a repeated event occur with specific frequencies”.
More clearly we can say that as the number of attempts increases, the possibility of a desirable outcome also increases.
Setback as a setup for a comeback
A majority of people who encounter failure can’t achieve success even after multiple attempts because they are fearful to look at their shortcomings.
But we should learn to accept these as we don’t have a control over the outside factors but by learning from them and with the simultaneous application of Law of averages we at some point reach our desired goals by inherent nature of the law. That point of happening depends upon whether we use these shortcomings to sharpen us or as a reason for misfortune.
Maxwell Maltz told in his book “psycho-cybernetics” that our brain and nervous system together constitute a servo mechanism which through the use of positive images and feedback mechanism works every time to bring us closer to our goals provided we keep on feeding it the goal and moving forward.
But as we have been programmed, we take negative feedback as a setback and refrain from attempting again concluding it as the final outcome disregarding the fact that the course has been corrected by the learning gained in the process aligning us more close to our goal.
Needless to say, our most common reaction when our life hits us hard is “ I am unlucky”, “people who taste success are lucky” “This always happens to me” and the list goes on and on.
But it is, in fact, the lack of persistence and burning desire to treat our misfortunes as a setup for a comeback.
Higher the number of attempts, more is the learning, more the course correction and hence more the chances of triumphs.
Don’t make comparisons
Normally when we see successful people, we only look at their triumphs ignoring the multiple failures that led them to their current position.
The master has failed more times than the beginner has even tried Stephen Mc Cranie
We have a mentality to get anything in short duration so we start comparing ourselves to people who might have achieved the similar thing with fewer attempts and we get discouraged very soon.
The result is that in one or two attempts only we start inhibiting our progress by applying negative feedback which deviates us further from our goals.
Even though you may have the required skill sets, right resources, well-planned strategies, etc but that alone doesn’t guarantee, though not impossible, that you succeed in your first attempt. Nevertheless, sometimes our goal requires from us patience or maybe the market trends have changed from the time in which the person you are comparing yourself with has tried.
The comparison is a waste of time but instead, if you work on your part along with a consistent assessment of your failures, you by the virtue of Law of averages use time constructively.
Work on your part
The law of averages works efficiently if it is backed up with constant learning and skill improvement.
In one of the lectures Joe Dispenza, author of “You are the Placebo” talked about how new neural patterns are formed in our brain if we make learning a continuous process.
The previous pattern of the same action which may not be serving us is replaced with a new beneficial pattern through knowledge.
It is a must to revise our skill sets each time we encounter a setback as it may serve as a blueprint for tracing the required factor which may be missing from our previous success equation.
Law of averages will help you with any goal provided you keep complimenting your actions with what is required as the necessary inputs whether it involves a change in your thinking, skill sets, planning, etc that can make your outcome more predictable.
The pointers mentioned below should be used along with the law of averages to work in your favor.
- Being Ambitious
- Updating skills from time to time
- Being Go-getter
Solving worry situations
Whether we acknowledge or not most of the times when our mind is occupied with random worries such as the fear of a disease, of getting bitten by a dog on road, meeting with an accident, being struck by lightning and likes.
When solving worry situations through the law of averages the best principle was outlined by Dale Carnegie as follows
‘Let’s examine the record.’ Let’s ask ourselves ‘What are the chances. According to the law of averages, that this event I am worried about will ever occur?’
If we sit down quietly and access the possibility of their happening, then according to the law of averages we will find that most of our problems have a very slim chance of occurrence in reality.
So what is the problem that has currently occupied your mind “Let’s examine the records”.
Do mention in the comments below how you will be using Law of averages to solve your worry situations.
Also Read: Mind Mapping-a skill to learn now