πŸ€ Was it luck or skill?


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Hey Reader,

One of the most important skills I've had to learn as an entrepreneur is being able to identify luck versus skill. Unfortunately, this is also one of the hardest things to get good at.

Before we go any further, I want to note that just because I recognize its importance and difficulty, absolutely does not mean I have figured it all out. I will be working on this forever, and so will you.

It's human nature to want to feel comfortable, to lean into things that feel good. Because of this nature, we are prone to, and tend to, equate positive outcomes with skill and negative outcomes with back luck.

It is also human nature to compete with others - to want to win, to be looked at as strong and successful. This is why when we see others succeed, we tend to see their positive outcomes as a result of luck and their negative outcomes as a result of skill.

Self-Serving Bias

One of the best explanations of this weird phenomenon that I have seen is in Annie Duke's book, "Thinking In Bets." (click here to get the book)​

Annie is a World Series of Poker Champion, and in her book she uses poker analogies (along with others) to break down the many biases we all have when it comes to decision-making.

The luck-vs-sell bias is what she calls our "self-serving bias" - our tendency to look at results in a way that serves our internal need to feel good: Bad things happen TO us, good things happen BECAUSE of us.

To bring this into our world, imagine you have a post go viral and when people ask you about it, you tell them you knew that particular post would be the one. You knew it all along. It went viral because of your skill.

The reality is, it probably had something to do with your skill as a creator - knowing your audience, pop culture, how algorithms work, etc. But it also almost certainly had something to do with luck as well - the timing of your post being when people were online, the right accounts liking or sharing the post, etc.

Now imagine all the other posts that didn't go viral - Are all those results also due to your skill - or in all those cases, your apparent LACK of skill?

Most likely not. There are likely a lot of very well thought out, strategic, high-quality posts. They didn't go viral for a myriad of reasons - The time that normal results in lots of views didn't this time, no big accounts reacted to it, and it wasn't quite as well thought out or strategic as the viral one.

Our tendency is to credit our skill for that first post - We created an amazing post that people loved - but then blame luck for the second one - the algorithm didn't push it out like it should have.

To credit luck in our successes makes us feel like we are taking away from the hard work we put in. Blaming luck for our failures ensures we know that WE were not the issue with that failure.

Now let's change that scenario up a little. This time, it's someone else (maybe a competitor) whose post went viral. Our natural instinct is to credit their success to good luck, and all their other, failed posts, to lesser skill.

The Harsh Truth

The truth is...the reality is, every outcome (for us and everyone else) is a combination of luck and skill. You need to be skilled enough to create a strong post, but lucky enough for a few things line up so that post has the opportunity to be seen, liked, shared, etc.

The more important truth is that we can’t learn from our experiences, or from those of others, if we don’t recognize our self-serving bias.

We need to be real with ourselves and recognize that our wins AND our losses are both due to skill and luck. And the wins and losses of others are also due to both skill and luck.
We need to peel away that bias in order to truly learn and grow as creators and entrepreneurs.

Opportunities to Learn and Grow

When we let our self-serving bias skew the way we see our experiences, and the those of others, we deny ourselves of opportunities to learn and grow. When we lean into the comfort of believing luck played a bigger role in our failure than our own skills and decision-making, we remove the chance to reflect on, learn from, and adjust future decisions based on our increased knowledge and experience.

When we let this bias impact how we see other people’s successes and failures, not only do we limit (or completely remove) the learning we could have done by truly analyzing how things unfolded, we also rob those people of the credit they deserve for their skills and decision-making.

Watching (both ourselves and others) and learning (from both) is one of the most important skills you can develop on this journey. How much or how little you allow yourself to fall victim to self-serving bias, may very well determine whether you ultimately succeed or fail.

Challenge Accepted?

This is one of the most difficult things to do as a person...but it is important...crucially important. I challenge you to have the conversation with yourself any time you are analyzing the outcome of any decision. Challenge yourself to recognize the part luck plays in the positive outcomes, and fight through the uncomfortableness of acknowledging the part you (and your skills) play in the negative outcomes.

It'll be uncomfortable. It'll be difficult. You will never master it. But you can become better at it. And the better you get at this, the better you will become at making decisions that lead to better outcomes more often.

I'll continue to work on this, and I hope you will as well. If you want to dive further into it, or need an accountability partner, hit 'reply' and let me know.
​

I hope this helps
- Jeff & The Teach Better Team


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⚑️Things to Check Out

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πŸ’‘CONTENT CREATION IDEA

Designing a

Have Ch

PROMPT TEMPLATE

Develop a unique brand identity for my [side hustle]. The brand identity must capture our company's mission, values, and personality. Consider elements such as brand name, logo, color palette, typography, and tone of voice. Ensure consistency across all platforms and materials. Think about our target audience and how we can differentiate ourselves from competitors. Present your ideas with examples and rationale for each choice.

Side hustle: [Insert here]

MY PROMPT

Develop a unique brand identity for my [side hustle]. The brand identity must capture our company's mission, values, and personality. Consider elements such as brand name, logo, color palette, typography, and tone of voice. Ensure consistency across all platforms and materials. Think about our target audience and how we can differentiate ourselves from competitors. Present your ideas with examples and rationale for each choice. Side hustle: Creating online courses to help K12 educators develop more engaging lesson plans that help them increase student success.

MY RESPONSE

Important Note: This is a great example of ChatGPT providing a suggestion that is not entirely great, and why it is important to verify the responses you get from AI. EduSpark is an existing brand, so it would not be a good idea to use that as your brand name. AI can be super helpful, but it is far from perfect.

Brand Identity for Your Side Hustle: Engaging Educator Courses

Brand Name:

EduSpark

  • Rationale: The name conveys igniting passion and creativity in education, reflecting the mission of developing engaging lesson plans.

Logo:

  • Design: A stylized spark or flame intertwined with an open book or a pencil.
  • Rationale: Represents igniting new ideas and knowledge, aligning with the goal of making learning more engaging.

Color Palette:

  • Primary Colors: Bright Orange and Deep Blue
    • Bright Orange: Symbolizes creativity, enthusiasm, and energy.
    • Deep Blue: Conveys trust, professionalism, and depth of knowledge.
  • Secondary Colors: Soft Green and White
    • Soft Green: Represents growth and harmony.
    • White: Clean, simple, and signifies clarity and openness.

Typography:

  • Primary Font: Montserrat Bold
    • Rationale: Modern and clean, conveying professionalism and readability.
  • Secondary Font: Open Sans
    • Rationale: Versatile and legible, suitable for body text and online content.

Tone of Voice:

  • Friendly and Approachable: Use a conversational tone that resonates with educators.
  • Inspirational and Motivational: Encourage and empower educators to innovate and succeed.
  • Informative and Supportive: Provide clear, actionable advice and support.

Consistency Across Platforms:

  • Website: Use the color palette, typography, and logo consistently. Ensure the tone of voice is friendly and supportive.
  • Social Media: Engage with posts that inspire and provide tips for creating engaging lesson plans. Use branded visuals and maintain the tone of voice.
  • Email Marketing: Use the same color scheme and fonts in newsletters. Maintain a friendly and informative tone.

Differentiation from Competitors:

  • Unique Selling Proposition (USP): Focus on practical, easily implementable strategies that have proven results in increasing student engagement and success.
  • Personalized Support: Offer personalized advice and feedback to educators to help them tailor their lesson plans effectively.
  • Community Building: Create a community of educators where they can share ideas, experiences, and successes.

Examples and Rationale:

  1. Website Header:
    • Logo: EduSpark (with spark and book/pencil graphic)
    • Colors: Bright Orange background with Deep Blue text
    • Typography: "Welcome to EduSpark – Ignite Your Teaching Creativity!"
  2. Social Media Post:
    • Visual: Graphic with Bright Orange and Deep Blue, showing a spark and book/pencil
    • Text: "Looking to make your lessons more engaging? Check out our latest tips on creating interactive activities! #EduSpark #TeachingTips"
    • Tone: Friendly and Motivational
  3. Email Newsletter:
    • Subject: "Spark New Ideas for Your Classroom!"
    • Header: EduSpark Logo
    • Body Text: "Hi [Name], Are you ready to transform your lesson plans? This week, we're sharing top strategies to boost student engagement. Let's spark some creativity together! [Link to blog]"

By maintaining a consistent brand identity across all platforms, you will build recognition and trust among your target audience, setting EduSpark apart as a leader in helping educators create engaging and effective lesson plans.

​


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EDUcreator Club Newsletter

Helping educators create and grow brands to promote a product or idea they want to share with others to better education. Tips, tricks, and resources for educators creating content and/or launching side hustles to share their passions.

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