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Exploring the role of volume in negating luck and skill, the podcast discusses the importance of patience, learning, and consistency in achieving success. They highlight the significance of understanding probabilities and emphasize the need for a large volume of calls and practice in business. The hosts also stress the importance of small skills, progress, and consistency in long-term success.
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Quick takeaways
- Engaging in high volume activities can reduce the impact of luck and increase the likelihood of positive outcomes.
- True progress comes from persisting through failure and continuously improving, gradually increasing proficiency.
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Understanding Probability and Volume
The key to success and growth lies in understanding probability and volume. Successful individuals grasp the concept that chance plays a role in any pursuit, such as investing or marketing. By engaging in high volume activities, one can reduce the impact of luck and increase the likelihood of positive outcomes. Volume allows the development of skills and experience, gradually diminishing the element of uncertainty. The more one engages in a particular endeavor, the more their skills improve, making them luckier in the long run.
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