The Track-Record Fallacy
By Mark Chussil
There’s a reason why financial-disclosure statements say past performance does not guarantee future results.
How do we know when someone is skillful at competing? Reflexively, unconsciously, and inevitably we turn to the person’s track record. A person with a string of competitive successes is more likely to be competitively skillful, we figure, than someone with a string of competitive failures.
The thing is, it’s hard to tell the difference between luck and skill…
Mark Chussil, Founder and CEO of Advanced Competitive Strategies, is also a Co-founder of Competing.com.