If you do something often enough a ratio will appear.
Once a ratio starts, it tends to continue.
This information is hugely important to business success.
In baseball or cricket its called a ‘batting average’.
Talk to 10 people and you get one.
Talk to 10 more and get another one and so on.
If you get 9 out of 10 and I get 1 out 10, I can still compete with you.
How can that be?
If you talk to 10 people and get 9, I’ll talk to 100 people and get 10. I beat you.
You will learn more from losing than you do by winning.
I make up in numbers, I lack in skill.
Anybody can do this.
The law of averages can be increased.
The fourth time you talk to someone you get 2.
You’re getting better.
In baseball if you only hit 3 out of 10 balls you make $4m per year. That means that you can win big by missing 7 times out of 10!
It’s the same in internet marketing. I’ve found that from affiliate traffic, on average I can get a 10% conversion rate when I sell a digital product.
That means that 9 out of 10 visitors don’t buy!
Once you know these numbers you can work on strategies for increasing your conversion rate through strategies like split-testing, improving your sales funnel, using exit pop-ups etc.
The point is that you don’t have to ‘bat a thousand’ to make big money.
When recruiting people to his network marketing business, Jim Rohn knew he could recruit 3 out of 10 people.
His invitation to listen to his network marketing presentation went something like this:
‘I normally recruit 3 out of 10 people. I don’t mind if you come to my meeting as one of the 7 that don’t join. It doesn’t matter. The important thing is that you just listen. As one of my friends, I don’t want you saying in a years time, when you see my success, why didn’t you pick up the phone and call me and tell me about this opportunity. At least if you listen now I can say I gave you the opportunity.‘
The story of the sower from the bible & how it relates to the law of averages.
The sower was ambitious. He had excellent seed (opportunity).
The sower goes out to sow the seed, some fell by the wayside and the birds got some of the seed. (Some people will not make it to your meeting – the birds will get some.)
You have two options:
- chase birds – if you do this, you will leave the field i.e. distract you from your main purpose.
- or just say ‘Isn’t that interesting’ which is the preferred option.
The sower kept on sowing.
There are only 9 or 10 miserable people in the world – they move around a lot. When you bump into one, remind yourself that there only 9 more like you in the whole world (i.e. you need to be persistent in the face of adversity.)
Now the seed falls on rocky ground where the soil is shallow but it is not of your making.
The seed begins to grow but, with the first hot day, the seedling whithers.
(These are people that don’t show up to the second meeting.) The hot weather will get some – not an easy thing to watch.
Just say, ‘isn’t that interesting’ and don’t bother asking why.
Some just don’t stay or get put off by the first obstacle. You can’t change that – just take it as it comes.
If someone says ‘why does the sun come up in the east?‘ – don’t sign up for the ‘why is this’ class – it’s the law of averages!
He kept on sowing – he had to discipline his disappointment.
Some are not going to stay but in the normal course of things this is the way things are.
Some of the seed falls on thorny ground.
As the seed begins to grow, the thorns strangle the seedling. These are the little things that get in the way of making progress. Little things cheat people out of big opportunities. It’s just the way it is – like winter following fall.
The sower keeps sowing the seed.
Finally the seed falls on good ground
If you keep sowing ‘it always will’. Some of your ‘seed’ will fall on good people – it’s the law of averages working again!
Some of the good ground did 30%, some did 60% and some did 100%.
Why? Don’t sign up for that class – it just the way it is!
If you try to get the 30% to do 60%, you’ll just hit your head against a brick wall. Just let the 30% do 30% and 60% do 60%.
Learn the law of sowing and reaping because it directly relates to the law of averages and your success in life and internet marketing.