“You should take the approach that you, the entrepreneur, are wrong. Your goal is to be less wrong.” Elon Musk
Being less wrong is surprisingly a very sound strategic idea. I have heard very similar thoughts expressed by Charlie, Munger, Warren Buffett, Daniel Kahneman, and Bill Gates.
Why is that a goal? Shouldn’t being right a much better goal?
It is if you can define it. Most of the time we don’t know what the end of a project looks like. If it is new ground being covered, right is unknowable.
The idea is if you cull the things you have proven not to work, whatever results, will be part way toward a better solution. That’s how evolution works. When you work on complex problems, you will have noticed that right or near right appear toward the end and the methods that deliver them are not a lot like the original idea of right.
It is always possible to be less wrong. It is not always possible to be right. Improvement is where you find success. Quite often the playing field for your problem changes and your understanding of the familiar parts change too. It is not easy to move to the future in better condition than your present.
You don’t always achieve the success you intended.
“I may not have gone where I intended to go, but I think I have ended up where I needed to be.” Douglas Adams
That’s how you use less wrong to your advantage.
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I build strategy and fact-based estate and income plans. The plans identify alternate ways and alternate timing to achieve both spending and estate distribution goals. In the past I have been a planner with a large insurance, employee benefits, and investment agency, a partner in a large international public accounting firm, CEO of a software start-up, a partner in an energy management system importer, and briefly in the restaurant business. I have appeared on more than 100 television shows on financial planning, have presented to organizations as varied as the Canadian Bar Association, The Ontario Institute of Chartered Accountants, The Ontario Ministry of Agriculture and Food, Banks – from CIBC to the Business Development Bank.
Be in touch at 705-927-4770 or by email to firstname.lastname@example.org