Rolf Dobelli gave an outstanding talk a bit less than a year ago at the London School of Economics. The topic was “The Art of Thinking Clearly”.
Among many of his enticing anecdotes was a classic poised to demonstrate the futility of leadership literature.
Dobelli argued that if you have five hundred monkeys who press a button to predict whether the Dow Jones goes up or down this week, about half of them get it right. Then, once you remove the ones who got it wrong, rinse and repeat.
Next week once again about half of the monkeys are correct. And in about twenty weeks there will be one monkey that will have predicted the stock market better than any known human stock broker in history.
As a consequence, business researchers will no doubt be tremendously interested in this particular monkey. They will analyze its habits, break down its routines. They will write scientific papers about it, write inspirational books about it. The monkey will serve as a guide to a gigantic amount of future wannabe stock brokers.
And all the while its success was down to pure chance.
This is a thought that deeply troubles me.
I have found tremendous inspiration in both leadership lit and in reading the biographies of the likes of Richard Branson, Thomas Edison and Steve Jobs. And all the while it may be that these people, generally thougth of as exceptional, are simply the ones that rose to the top owing eventually just to pure chance.
I don’t want to say that Branson, Edison or Jobs would be purely talentless. But obviously there are a gigantic amount of people of equal or greater talent who never get lauded in anecdotes or biographies.
And yet I find this idea somehow suspicious.
I suppose to be an entrepreneur, one must believe that there is a way to study and to get better in the game. To look up to the giants and to learn. That not everything is down to pure chance. Even if it cannot be codified in a routine or condensed in an all-encompassing anecdote.
But the curse of entrepreneurship is that you simply cannot know in advance. Nor can you, as a matter of fact, know it afterwards either. Because even if massive success were to befall you, it could still be down to pure chance.
You could still be the monkey pressing the button.
But the only thing that I am pretty sure is this (and I suppose this sums up at least something essential about entrepreneurship):
No books will be written of the monkey that never pressed the button to begin with.