Growing up, my brother always told me my best attribute is that I am lucky. This got me interested in learning more about luck. Successful entrepreneurs often claim luck played no part in their success, and unsuccessful ones blame bad luck. Both are suckers - one places too much credit on fortune while the other not enough. Below is an outline of the four main types of luck, originally proposed by Dr. James Austin, a neurologist and philosopher:
Chance I: Blind Luck
This is luck that you have no control over. It is completely random but can be useful.
Example: You find a $100 bill on the street.
Perhaps you were born in the United States with all four limbs and no severe birth defects. That is incredible luck!
Chance II: Hustle Luck
You produce this luck by running around and stirring up dirt. Eventually, the dust settles to reveal gold.
The person who constantly takes risks is more likely to find luck. If you go on 100 dates, the 101st date might be your perfect match.ย
The other day I went to a hockey game with a friend. She proposed we go to a Young Gravy concert later. โHell no!โ was my initial response, but I went, and it ended up being incredible.ย
Chance III: Specific Knowledge
Knowledge from unique experiences allows you to notice opportunities others do not see.ย
Take a soccer player who notices the referee always blows his whistle when โChadโ dives in. He can force Chad to foul him in the penalty box, resulting in a penalty kick for his team. An inexperienced player may not notice this lucky break.ย
Warren Buffet spends most of his time reading, going on walks, and playing card games. Investors trust him because he has a depth of knowledge that cannot be taught.
Chance IV: Persona Luck
Luck that comes from your character
Persona luck arises when a unique problem must be solved, and you are the only one who can solve it. Imagine you are a deep-sea scuba diver known for risky dives. You receive a call that a treasure chest was found off the coast of Ghana, and you are the only one dumb enough to dive for it. You receive 25% of the fortune for solving this weird problem. You create this luck by being your authentic self!ย ย
I and II are well-known forms of luck, but III and IV canโt be slept on. At some point, these forms of luck transition into โdestinyโ because you can cultivate them through your decisions.
โWe make our fortunes and we call them fate.โ
โ Benjamin Disraeli