Leader of the Week – LOA

I was voted leader of the week for week ending 2/11/17. When a leader in the office earns this title, they create a morning meeting for Friday. The meeting is meant to be a narrative that relates in some way back to the field.

LOA stands for Law of Averages. In our business, it is the concept that the more businesses you see, the more likely you are to make a sale.

In my meeting, I discussed the popular TV show, Shark Tank. I mentioned a company that had been three years in the making before landing a deal. The product was cricket flour. As I glanced around the room, I was getting squeamish faces. The creator walked away with a deal.

The pitches to get to Shark Tank were an example of LOA, for it took years to stand in front on that room.

The LOA doesn’t stop there.

The sharks make deals all the time, but that doesn’t mean the contract goes through behind closed doors. Sharks only see the surface of the companies/products they are pitched. The finite details do not come out until after the show is aired. The sharks are also playing with a numbers game every deal they make. There will always be deals that fall through or fail. The more companies and products the sharks invest in, the better chance they have at making a lucrative deal.