Luck Is About Probabilities

Luck can play a big role in the life of a start-up. Especially in the early days. The right, seemingly random event can materially change a company’s course. I had a chat with a friend recently about luck. He thinks luck is random. I disagree.

One definition of “luck” is “favoring chance.” Said differently, it means favoring the possibility that a particular outcome will happen.

Luck is about probabilities. What is the probability that something you want to happen will happen? Depending on the outcome you want, there could be ways to skew the probabilities in your favor. A simple example is the power of staying top of mind with people. I have a close friend who many people consider lucky because he’s regularly presented with great opportunities. He’s been successful because of these opportunities. What people don’t see is the consistent effort he puts into staying top of mind with lots of people, which increases the likelihood that people will think of him when new opportunities arise. My friend creates his own luck by increasing the odds in his favor.

What actions can you take to increase the probabilities you’ll get the outcome you want?