What’s Luck Got to Do with It?

Feb 13 2009

Today is Friday the 13th. Some people are superstitious about this day and believe some bad luck might befall them just because of a number. Silly, right? So powerful is the myth of unlucky 13 that it is often missing in places like elevators and airplane seats. Clearly, enough people believe in “luck”–in this case the bad kind–that it got me thinking about the subject of luck in general especially as it relates to business.

Most definitions of the word luck describe it as a “chance happening” or “unpredictable phenomenon.” I think most people would say that luck—good or bad—is something beyond their control. That might be true some of the time. Most of the time, however, I would argue that luck in its purest form is something entirely different.

I don’t normally go around quoting Oprah but awhile back she said something that’s always stuck with me: “Luck is preparation meeting opportunity.” Think about that for a second. In other words, being prepared might have something to do with your luck quotient. Louis Pasteur is credited with a similar quote that I really like: “Chance favors the prepared mind.”

So, if this “unpredictable” or “chance” occurrence called luck can be influenced, it is through hard work and determination rather than just sitting around wishing for it. Conversely, “bad luck” probably favors those who are not prepared. The harsh reality of this economy has shown us that over and over again. The automakers turning out big SUVs were caught off guard by the gas crisis last year. The newspaper industry is finally facing the fact people get their news in a very different way than they used to.

A lot of the advice we dole out seems so obvious: “Be prepared.” It sounds simple enough yet many people are so mired in the operations and day-to-day challenges of keeping their business running that they aren’t thinking strategically. Consequently, they aren’t prepared when a great opportunity comes their way.

Spend some time each day (or at least each week) thinking about the what-ifs and how you might respond to them. Write down your plan. Communicate that plan to your team. Then, when that great opportunity does come along, you’ll be the luckiest person in the world.