What the Definition of Luck Really Is

 

 

Luck is a hard, complex thing. No successful person has ever (truthfully) said their success was all based around skill; there is always a wide amount of chance in every major victory. And yet, it’s hard to genuinely define this aspect – calling luck simply a factor of chance raises all sorts of complicated problems. What’s the “probability” of success? Is it the same as a flip of a coin? Can we statistically define luck? Is the probability of being “lucky” in starting a business really equivalent to the number of companies that last more than 5 years? More than 10 years? What about a heavily cited research paper? Or having a successful album release?

 

Of course, barely anyone truly believes that luck is purely a derivation of chance. And yet, I believe the fact that this is embroiled into the mindset of many people is precisely because of an improper definition of what luck truly is. The best definition of luck I’ve ever heard is that it is “created” with the help of two broad categories: consistency and opportunity. Opportunity itself is of many moving parts, and is responsible for most of the complexity of luck – things like current status, geography, education, network, etc. These pieces are mostly outside the scope of this article (though may be covered in detail in a later segment), so instead what I want to focus on is this first piece, consistency. Consistency, when executed properly, brings opportunity. The thing is that consistency isn’t quite an easy task in itself;  it takes more than a bit of operation. High-quality consistency requires exorbitant amounts of patience, proper long-term goal planning, and many, many extensions from the comfort zone. It also requires you to be able to tell if what you’re being consistent in is really worth you being consistent in it. Do you have the skill required for competitive advantage? Are you genuinely passionate about what you are doing? I feel as though all these questions, all these aspects, make up what luck really is. When people say luck, in reality, they’re giving a simple, generalized term for a variety of complex factors that are often hard to pinpoint. That being said, you’ll always find luck in opportunity, and you’ll always find opportunity inconsistency. Luck might feel like a hard thing to get, but remember; you only have to hit the home run once. And besides, if everyone was lucky, would any of it really matter?

 

Anyway, that’s all for this one. If you want to keep in touch, check out my biweekly newsletter! Following this will give you the low-down of all the new stuff I’m working on, as well as some things I found interesting. You can subscribe to it here.

 

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