How to Improve Odds of Success
We will start with the probability density function and integrate across...
J/K. Instead lets keep things simple.
So lets consider a coin flipping:
Odds of getting a heads upon coin flip: 50%
Odds of single startup success: 7%
Odds of getting at least a single heads in two flips:
50% (first flip) + 50% of 50% (.5)^2 = 50+25=75%
Odds of getting a successful startup in two successive attempts (also roughly applies to two attempts conducted simultaneously):
7% (one attempt) + 7% (other attempt) = 14% of one or more successful startups
Generally speaking, a startup success in the technology space usually spells tremendous financial upside given the volumes possible. And while you can probably guess that there is no way to achieve 100% success probability, with enough simultaneous attempts, the prospect for future success becomes quite rosy indeed.
And I would like to reiterate here that the following factors also add to the optimistic outlook for this strategy: teamwork, groupthink, skill specialization, availability of specialized resource, ability to focus individuals on time critical task, the ability of a group to lift the spirits of a weakened individual, all members get additional dollars for each success, no penalties, and many other wonderful benefits.
And there is one extra special feature that I'll not mention here that 3E8Tech is eyeballing that may make all the difference in the world. Create an account, join the conversations, and I'll fill you in on something special I would like to do that has never before been done!
One heck of a lot easier than integrating that probability density function, huh?