The role of luck in business

The Role of luck in Business

The economy doesn’t always work for businesses. During high times, it can seem like everyone is making money. During a deflation, it can feel like everyone is going bust. There is just no way to know when an economic event is going to take the wind out of your hands, so we have to be prepared for any situations coming up.

Smart businessmen prepare for the worst and the best. Having a solid economic foundation will allow you to grab opportunities during positive economic conditions. It will also allow you to weather the storm during pessimistic economic times. There’s been sufficient turmoil in the economy in the last twenty years that you can be sure that whatever is on the horizon, it’s not going to be what you expect. So target for a wide range of possibilities, luck or no luck.

It’s censorious that businesses are ready when the opportunity strikes. Though there may be a great deal of success in the essence of timing, the businesses that are able to take the upper hand of opportunities are those that are ready to do so. Most of what happens in business is that opportunities are missed not because a business is unfortunate, but rather because they are unprepared.

Be open to looking in places that you wouldn’t expect to find astonishing employees or business partners. Don’t be bashful about asking people that you gel with if they’re interested in working with you, even if they’ve already got a job. This greatly increases your chances of finding the spark that could lead you to business triumph. Being nimble is a critical component of modern careers. Adaptability and fluidity are skills that can help you spot opportunities where others may not see any. So go ahead, show initiative and take on that new chance; learning a new skill or task will add to your resume and is to stand you in good stead in the long run. Remember, the only thing that can control “hard luck” is “hard work”.

It’s often said that you make your own luck, but for that, you need to know the right people at the right time. Building your network- formal and informal – can help put you in the know before things happen. How? Fortunate careers are all about networking, building relationships and taking action. Sharing knowledge and growing connections can raise your profile and bring new opportunities your way.

Employ the Pygmalion effect, where higher belief leads to improved performance, to good effect. It is a well-known fact that positivity is the basic criterion for perceived luck and superior fortune. When things go wrong, don’t think you’re unlucky for success comes to people who work for it. So “pray to God, sailor, but row for the shore”. Keep dreaming big visions, but build them on a solid foundation.

Conclusion

Luck always favors the brave. So at the workplace, face your obstacles and work to overcome them. Embrace change, be open to new opportunities, visualize the lucky you, and stay prompt. And let Frank Sinatra have the last word: “People often remark that I’m pretty lucky. Luck is only important in so far as getting the chance to sell yourself at the right minute. After that, you’ve got to have technique and know how to use it.”