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While it is not for me to decide what exactly defines a Fastlaner, I'm sure most would agree on two minimal qualities: humility and adaptability. Both of these qualities are divisors of a person's willingness and ability to learn from mistakes. So if you can sincerely say that you are someone who learns from your mistakes, then congratulations: you have Bad Luck Protection!
So what is Bad Luck Protection (or BLP for short)? BLP is a gaming term but it is worth understanding the context and mathematics that eventually inspired it. When you kill a monster in a game, there is some chance that it drops a particular item for you. To make the numbers easy, we'll use 10%. So you kill one monster, you have a 10% chance of getting an item drop. For you math dorks out there, you know that if you kill 10 monsters, you can expect to get the item drop.
The problem is that when you have millions of players, it is almost a statistical certainty that a large number of those players will get "unlucky": possibly killing 50 monsters and still not getting the item to drop. In order to address this, game developers created BLP. Each kill that does not yield the item increases your chances of getting the drop. So for example, if each kill that did not yield the item increased your chances of getting the item by 10%, then killing 10 monsters GUARANTEES that you will get it.
So WTF does this have to do with business? Well, provided you are learning from your mistakes and failures in business, then those lessons and knowledge are a real life version of BLP. Your next action or business venture has increased odds that you earned by virtue of making a mistake and learning from it.
If we were all perfectly logical cyborgs, none of this would matter. But fortunately (or unfortunately?), we are human beings that are largely influenced by a variety of psychological factors. And so for many people, it may be helpful to their mental well-being to relabel a mistake or failure as increased BLP. Not only does this help minimize the chances you will give up or quit permanently, but it also allows you to be more optimistic about future endeavors knowing that the odds keep skewing in your favor.
So provided that you learn from your mistakes (which this requirement cannot be understated), then your only options are to succeed or increase your BLP. And if you increase your BLP enough, success becomes inevitable. So do something today that gives you success or increases your BLP. If it's the latter, you can cash it in tomorrow.
So what is Bad Luck Protection (or BLP for short)? BLP is a gaming term but it is worth understanding the context and mathematics that eventually inspired it. When you kill a monster in a game, there is some chance that it drops a particular item for you. To make the numbers easy, we'll use 10%. So you kill one monster, you have a 10% chance of getting an item drop. For you math dorks out there, you know that if you kill 10 monsters, you can expect to get the item drop.
The problem is that when you have millions of players, it is almost a statistical certainty that a large number of those players will get "unlucky": possibly killing 50 monsters and still not getting the item to drop. In order to address this, game developers created BLP. Each kill that does not yield the item increases your chances of getting the drop. So for example, if each kill that did not yield the item increased your chances of getting the item by 10%, then killing 10 monsters GUARANTEES that you will get it.
So WTF does this have to do with business? Well, provided you are learning from your mistakes and failures in business, then those lessons and knowledge are a real life version of BLP. Your next action or business venture has increased odds that you earned by virtue of making a mistake and learning from it.
If we were all perfectly logical cyborgs, none of this would matter. But fortunately (or unfortunately?), we are human beings that are largely influenced by a variety of psychological factors. And so for many people, it may be helpful to their mental well-being to relabel a mistake or failure as increased BLP. Not only does this help minimize the chances you will give up or quit permanently, but it also allows you to be more optimistic about future endeavors knowing that the odds keep skewing in your favor.
So provided that you learn from your mistakes (which this requirement cannot be understated), then your only options are to succeed or increase your BLP. And if you increase your BLP enough, success becomes inevitable. So do something today that gives you success or increases your BLP. If it's the latter, you can cash it in tomorrow.
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