The dictionary defines luck as “success or failure apparently brought by chance rather than through one’s own actions.”
Business success requires luck
Luck plays a central role in business success. An entrepreneur might experience good luck as an upswing in the economy, bumping into the right person at the right time, hiring someone who blossoms, or good weather. An entrepreneur’s bad luck might be a heat wave, slanderous comments on social media, a key supplier failing to deliver, a major customer going bankrupt. A young business with little capital is particularly susceptible to chance happenings.
As business owners, do we live at the whim of forces beyond our control?
Yes and no.
Yes, in that ultimately the future is unfathomable, the forces around us interact in unpredictable ways, and anything is possible.
On the other hand, there are definitely things we can do to dramatically increase good luck.
Preparing for luck is like readying to sleep
We can’t will ourselves to sleep. Instead, we can create the comfort, quiet, and ambiance that allows sleep to happen. [Read more…]