11s PP: How is it possible to make a profit

[SaggyTTs]

I haven't been on this site long, so if I post an inappropriate question, slap me and forgive me.

Right now, I am playing 10 plus 1 sng's at Party. I am averaging ITM about 35 percent. In reading the FAQ here, I see that the most one can reasonably expect long-term is about 44 percent. To me, that makes sng's unwinnable. If I buy-in at 11 bucks per table (110 bucks), and only get itm 40 percent of the time (placing third), that's a 30 dollar deficit. If I place first one of those times, I am only breaking even.

For a rookie, can anyone tell me if I am missing something.