"If a horse runs in a horse race and comes in first, by a nose, it wins ten times the prize money more than the horse that comes in second by a nose. That doesn't mean that the horse that wins 1st by a nose is ten times better than the horse that comes in second. It doesn't mean that it is five times better, or two times better. The truth of the matter is that it's only a nose better, but the difference in prize money is enormous."
Brian Tracy, "The Psychology of Selling"
He then stated some research done on two of the top race horses at the time, the winning horse had won $750,000, while the other horse had won only $75,000. However, the difference between the two horse's times is only 3-4% -- That is, the winning horse was only about 3-4% faster, but the winning horse got 1000% more in income.
This concept of a "winning edge" is just that small margin where the #1 does something only a TINY bit different, a tiny bit better each time, every day.
Conversely however, there's also the point of TREMENDOUS effort for only a miniscule benefit percentage. Case in point: university final exams. If you're studying for your Organic Chemistry final, let's say you only really need to study 14 hours to get an A, or 95%. However, to get a 100%, you would need to study at least 26 hours in order to ensure that you can reach that success rate. 12 hours for 5% benefit, when both amount of studies get A's? That's when we need to see how we can best use our time for more beneficial purposes.
Brian Tracy, "The Psychology of Selling"
He then stated some research done on two of the top race horses at the time, the winning horse had won $750,000, while the other horse had won only $75,000. However, the difference between the two horse's times is only 3-4% -- That is, the winning horse was only about 3-4% faster, but the winning horse got 1000% more in income.
This concept of a "winning edge" is just that small margin where the #1 does something only a TINY bit different, a tiny bit better each time, every day.
Conversely however, there's also the point of TREMENDOUS effort for only a miniscule benefit percentage. Case in point: university final exams. If you're studying for your Organic Chemistry final, let's say you only really need to study 14 hours to get an A, or 95%. However, to get a 100%, you would need to study at least 26 hours in order to ensure that you can reach that success rate. 12 hours for 5% benefit, when both amount of studies get A's? That's when we need to see how we can best use our time for more beneficial purposes.
