The odds are long because all the obviously good ideas with no risk of failure are immediately snapped up by everyone.
The key is to learn to spot those so you can move on them first, and also to keep a sane estimate with how much you’re gambling vs the potential reward so that your net expected payout remains positive.
This is why I have decided not to be an entrepreneur. All the studies say that your odds are just not good enough to be worth it.
The odds are long because all the obviously good ideas with no risk of failure are immediately snapped up by everyone.
The key is to learn to spot those so you can move on them first, and also to keep a sane estimate with how much you’re gambling vs the potential reward so that your net expected payout remains positive.
...and even if you are, people who are able to re-arrange the odds to their favour may end up crowding out the honest ones ;)