Remove The Fear Of Failure By Knowing Your Numbers

You know how some of the semi-religious self-improvement psycho babble you’ve read that you probably thought was junk?  It isn’t.

You need to re-program your mind to think in different ways if you want to have a profitable internet business.

The biggest downfall for many people is procrastination caused by the fear of failure as confirmed by the replies to yesterdays post.  (I already knew this – been there, got the t-shirt.)

To overcome the fear of failure, all you need to know are a couple of things.

Persistency and consistency are the keys.

If you create your first product and it flops, it doesn’t matter.

The learning you will have gained will have paid for the product creation time.

The next time you’ll do it better.  And you may even later rework the product that flopped into something else.  You should always look at re-using any material you create.

But as sure as anything, if you persist and consistently create new products every 4-6 weeks, some will do well.  Some will also flop but it doesn’t matter, because using the law of averages means you are getting closer and closer to a full time income.

So using the law of averages, eventually you may come up with something like 5-3-1.

For every 5 products you create, 3 will do well and 1 of those 3 will do very well.  Or it may be 3-2-1 or 7-4-2 or whatever – you’ll see the pattern emerge in time.

You can then work out your average income across them all and know that just by the sheer weight of numbers, you will be making n amount of dollars.  If your averages work across 5 products, divide the n by 5 to give you your dollar value per product.

Let’s say it’s $200 per month per product averaged out.

Pure logic now says that the FASTER you can put out new products, the more money you will make – guaranteed.  You CANNOT lose as each one will generate an average of $200 per month.

Now the fear of failure is irrelevant.

You will know FOR A FACT, that every time you create and release a new product it increases your monthly income by $200.

It doesn’t matter whether it flops or it does really well, the law of averages is on your side.  Every single product, averaged out, will increase your income by $200/month.

To begin with you won’t know your averages, and the only way of finding them will be to do something.  Which brings me back to taking action and not worrying about the failures.

All you have to do is pull your finger out, create that first product and start marketing it.  While you’re marketing it, start working on the next one.

It’s as simple as that.  The law of averages is your friend.

Okay then…  Now I’ve removed your fear of failure, what are you waiting for?

-Frank Haywood

Posted by Frank Haywood in internet business