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May 24, 2015

Are successful entrepreneurs just "lucky"? This episode is about the role of luck in business. Here are some of the ideas discussed:
  • The main job of the entrepreneur is to minimise chance and uncertainty. "Luck" is not the basis of success, it is the enemy. 
  • People confuse the success or failure of a business idea with the success or failure of an entrepreneur's career—they are not the same thing. Successful entrepreneurs have many failures behind them. 
  • A business is not static. It is not a matter of chance whether it succeeds or fails. You can adapt and change everything about your business as you go, and thereby improve your chance of success with every step. 
  • There will always be influences that are entirely outside your control. But even those things outside your control can be managed and adapted to.

206 Luck In Business