Scott Adams' BlogThe “Systems” Business Model
A typical start-up created by an inexperienced entrepreneur has about a 10% chance of success.
But if that same entrepreneur pivots, or starts a second company, the odds of the next venture succeeding jumps to about 20%. And that makes sense because you learn a lot during your first failure, and you make a lot of contacts that can be useful later.
If you go up the odds chain, an angel investor with twenty investments in different companies might have a 70% chance of doing well because of the value of diversification.
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