Are you hearing “no” enough?
I was talking to a Birchmere portfolio company yesterday about an amazing business development partnership they had just secured. It was a really fun call as it promises to be transformational.
I mentioned casually how impressed I was with their tenacity and the guy who had secured the deal said: “look it was low probability but you miss 100% of the shots you don’t take.”
It’s a great line. It’s easy to fall into the trap of just doing things you think will be successful. One of my mentors, Dave Mawhinney likes to remind his students that a good definition for entrepreneurship is “insane perseverance in the face of complete resistance"
I was trying to think how to measure if I was doing this. (After all, you measure the things you care about most.) I’ve decided to start tracking how many times I hear no a week, because I took a shot that I thought I’d miss.