The Mediocrity Principle by Austin Higgins, MBA

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Build. Invest. Grow. The Mediocrity Principle By Austin Higgins, MBA Recently there has been some attention in the news about a new planet that was discovered. They call it Keppler-22b. K22b has a new nickname “Earth 2.0” – as if Keppler 22-b wasn’t good enough! Finally, there may be a chance of an Earth-like planet. The uniqueness and greatness of our planet may simultaneously exist on the other side of the universe. The Fermi Paradox poses the question: if other planets can sustain life, why isn’t there clear evidence of extraterrestrial life elsewhere? This led me to a question on business development and management. If there is the potential for success and true greatness, why aren’t more companies and individuals achieving success? The two thoughts in astrophysics can directly relate to business management and success. The Rare Earth Hypothesis suggests that earth is so rare and it is blind luck or chance that life is sustained here. The Mediocrity Principle states that earth is a rather average planet, in an average location with average features. The fact that life exists in one average place may lead to life existing in another average place. Content Copyright. 2012. All rights reserved. Build. Invest. Grow. So, the question with business is: is success a matter of chance and luck or can the average business achieve it? It has been said that success is when opportunity meets preparation. This is only partially true. Success is the end result of the right preparation. Scientists have been looking for planets that are just like earth hoping they will be able to sustain life or already have life on it. As a business, if you are looking to find success, mirror the attitudes and steps other successful businesses are taking- but do not copy your competitors, in fact ignore them! Any business can attain a very high level of success. There is no Rare Business Hypothesis saying that luck and chance play a larger role in the success of a company than does preparation and attitude. It isn’t natural talents and intelligence than breed success. Even the Theory of Expertise confirms this: it is practice and dedication that fuel expertise, not inherent skills. Is your business seeking to succeed with marketing? Dedicate yourself to marketing and you will succeed. Customer service? Research and development? Innovation? All it takes is focus and dedication, not luck. The Mediocrity Principle of Business Development: even the average can become extraordinary. Content Copyright. 2012. All rights reserved. .

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Lecture-29 (PDF)
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