Tag: luck

Three success factors

To achieve optimum success, one needs to have the ability, work ethic, and luck. One of these is in our control, while the other two are (mostly) not.

Take ability, for example. Some people are born with an innate ability or have the physical characteristics to be more prone to succeed in certain arenas. LeBron James was built to be a superstar athlete. No matter how much work ethic or luck I have, I don’t have the same natural gift/ability that he has. Not many people do. But there have been other athletes who were just as talented as LeBron and who haven’t achieved his level of success. This is because LeBron optimizes his natural ability by also having an incredible work ethic.

This leads to the next success factor, which is work ethic. Work ethic is the only thing we have complete control over. Every morning we wake up, we make the decision on how we want to use our day. When we’re at work, are we actually working or are we scrolling through social media or reading espn? Do we casually going through the day or do we have a plan? Set our intentions for each day. What is the one thing we need to do in each area of our lives (mental, physical, spiritual, relational, financial, and vocational) to get us closer to our goals? Are we living intentionally?

Lastly, the success factor with the biggest variation – luck. Some people seem to have great luck while others have “bad” luck. But while some of what we experience is “luck of the draw,” a lot of times there are little things we can do to better position ourselves. If we have a good attitude, and are a great team player, we generally will have more luck. If we share our goals with other people and are likable, other people will want to help us when they can. But they can’t help us unless they know what we’re aiming for. And they won’t help us if they don’t like us. So be kind to everyone, be generous, be curious, have a good work ethic, contribute to a positive culture, and be willing to be vulnerable. Take calculated risks (preferably asymmetric risks, where the cost is low, but the potential reward is high).

How to get lucky

You can’t expect to win a jackpot if you put no money on the line. You have to risk something to win a truly large reward. You can wish all that you want, but it won’t matter. As Michael Jordan said, “some people want things to happen, others make things happen.” It won’t happen unless you take action. The harder you work, the luckier you’ll get.

Praise the effort

We tend to simplify things in our heads, wanting to take whatever is the easiest route. We do this in many things, including looking at results. But what should be focused on instead is the effort the individual is giving to get the results.

There are two problems when only focusing on the end result…

First, if we only focus on the end result, maybe we aren’t challenging ourselves enough. For example, I should almost always win when facing an elementary student in basketball – and I’m not even good at basketball. But when you lower your standards just so you can win, it defeats the purpose of playing the game. At that point, why measure anything at all?

Second, when we focus on results only, we remove the element of luck from our environment. Annie Duke talks about this in her book Thinking in Bets. I can play a hand of poker perfectly according to the probability of what gives me the best chance at success and still lose the hand. Or, vice versa, I can play a hand incorrectly and still win. But if we’re only looking at the result, that may alter our way of thinking and cause us to play according to our emotions instead of what is mathematically the most likely way to win. It’s important to remember that we can only control our actions, not the actions of others, our environment, or “luck.”

So instead of focusing on results, the real question should be: “What did you do to maximize your potential?” It’s ok to ask our children if they won the game, got an A on the test, etc., but make sure we don’t praise the result. We need to focus all of our attention/praise on their efforts. What work did they put in to achieve those results? Did they try their best? (And remember, more is not always better. So if they were “studying” all night before a test and didn’t do well, maybe it would be better to have a shorter timeframe to study intensely and then get a good night of sleep.)

Jealousy, privilege, and comparison

Before you make a jealous statement, “they’re so lucky that ____” or “it must be easy because of ____”, truly think to yourself the amount of work that that individual put in to get to where they are. There really are not many “overnight successes.”

And for those who inherited wealth or were put in a better position to start than you? Consider yourself the lucky one. You have gone through trials and tribulations that they have not, and it has forged you into the person you are today.

There will always be someone better off than you just like there will always be others worse off than you, yet you don’t consider yourself privileged. Take a step back and look in the mirror. If you’re reading this on a computer, how “lucky” are you? If you live in the United States, how lucky are you? If you have your eyesight and can hear, how lucky are you? Do you have four limbs? How lucky are you? People tend to downplay the “luck” that played a role in how they got to where they are today, yet they emphasize it in others’ success.

“I’m a self-made person” you say. But, in reality, everyone has had help along the way. Some have had more help than others. But you’ve had more help than plenty of others as well. Remember that.

Finally, stop comparing yourself to others. It doesn’t matter where they are or where they’re going. You can’t control that. But you can influence the direction of your life by the decisions you make each and every day. Work to get 1% better every single day and you’ll be amazed by the results in 1 year, 10 years, and beyond.

Processes vs outcomes

Don’t fall into the trap of only keeping track of your outcomes. It is important to note the difference between the work you put in leading up to the outcome and the outcome itself. What I mean by this is that no matter what you do to prepare for a certain event, there will always be luck involved which is out of your control. For example, you could know the probability that something will occur “X” percent of the time (like a poker hand) and be a relatively good predictor of that thing actually happening. But no matter how much information you have, you have no control over the amount of luck (in your favor or against you) which will occur.

Say you’re playing Texas Hold’em. You’re dealt pocket aces (two of the highest cards) to start the hand. Unless one of your opponents has the other two aces in the deck, you always are starting out with the higher probability of winning before any other cards are shown. But say you lose with that starting hand 3 times in a row. Would you vow to never play pocket aces again, even though statistically you are favored to win? No. That would be valuing the outcome over the process.

The processes you follow should be based on what gives you the best chance to achieve your goals. It may not always work in your favor, but if you are always putting yourself in position to succeed, more often than not, you will.

Measure your processes, not the outcomes. If the outcomes always seem to be going against you, test your assumptions about the processes (maybe you’re missing something). And be sure to not only dwell on the negative outcomes (it’s easier to remember something bad that has happened as opposed to the many good things that have occurred).