How To Get Lucky In Business

Luck is a very interesting word used in the world of business and entrepreneurship. How many times do people blurt out things like “He’s so lucky he got that deal which is why his company is so big now.”

As an entrepreneur, I hear the word luck tossed around all the time. It’s usually coming from other entrepreneurs who are envious of someone else who is quite successful. Does luck exist in business?

Hell yes! Many millionaires, success stories, and big businesses can attribute luck as a factor in reaching their goals.

Separating Dumb Luck vs Smart Luck

Dumb luck is luck that occurs without taking extra initiative. It’s very rare and it’s the type of luck you should NEVER rely on because 99.9% of the time, it’s not coming.

An example of dumb luck would be a great aunt who passes away and leaves you with a million dollars. You never heard from her and you barely even remember meeting her, but she decided to leave you with a chunk of cash.

This would be a big example of dumb luck. You didn’t really do anything (besides being born) to get lucky enough to obtain that wealth, but you did anyway. Dumb luck almost never occurs.

Smart luck is defined as opportunity meeting preparation at any point of time. If you work hard, stick to your plan, and continue building towards your goal…..you’re bound to get lucky every now and then.

A great opportunity may place itself out of “luck” at anytime. Being at the point of opportunity is completely up to you. The harder you work, the more opportunities you present yourself to, the luckier you get.

Getting Lucky

There is no precise moment in time that you will be get lucky and have all the things you want. In business, luck doesn’t mean you even get everything you need.

Luck in business is like finding a seed that enables you to grow a big tree. You may be given the opportunity to prove your product to a huge corporation, receive a small endorsement from a celebrity, or anything else that may have an impact on your business.

Just because Walmart agrees to look at my product does NOT mean that it will get accepted. It’s lucky if you travel each week around the world attending conferences showcasing your product and run into someone willing to give you a shot.

Suddenly, a corporate representative from Walmart drops by and likes your product. Even though it’s unproven, he decides to give you a shot and puts your product in 1 of his stores to see how it does.

You just got a very LUCKY opportunity in business. However, you still have NOTHING. All you have is a big opportunity to prove yourself, but you can screw it up with just one wrong move.

As a successful entrepreneur, your job now would be to execute flawlessly so that Walmart now puts you into thousands of their stores. Once this happens, a great opportunity met with excellent preparation gave you a lucky break.

Stop Waiting For Luck

Never wait for luck. The harder you wish for luck, the longer you may have to wait. In fact, luck may never even present itself to you.

You should be working hard everyday towards your goals. The harder you work, the luckier you get. Why? Because you’re presenting yourself in front of hundreds and thousands of opportunities.

Before launching StatFuse a year ago, we contacted hundreds of media/press outlets. Nobody picked us up, but CBS referred us to their sister station known as Channel One news which catered to high school students.

That stroke of luck brought us thousands of users overnight. If we didn’t get any responses from the first 10 media outlets and decided to stop, we would have not gotten our ‘lucky’ break.

Luck is a direct result of hard work. You never know what may happen, but as long as you stick to your plan/goals…..luck may play an integral part of your success.

Conclusion

Luck does exist in business. However, waiting on dumb luck will never make you a successful entrepreneur or business owner. Work hard, stay persistent to your goals, and opportunities will come your way!

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