Why Luck is No Coincidence in Business

Running a successful business in this day and age is ordinarily a challenging affair. With competition so high in most sectors, you have to not only be ahead of the game but always on the ball and working with a loyal and committed team behind you.

Someone who has a lucky career may have been in the right place at the right time, but with no doubt will have had to work hard to reach their position. While some careers may land in the laps of those fortunate ones, most of us have to seize opportunities and be extremely proactive in our thinking and networking. A successful career can also depend very much on an individual character. A successful high-earning sales rep has to be friendly, confident and very knowledgeable about their business. Perhaps a somewhat more relaxed or quieter person would not have as much success. We are all suited to some careers more than others.


Financial Results

Financial success in business usually only comes with perseverance in targets, creating and testing formulas and strategies to see what works. The first few years of a new business can be a financial struggle and in most cases, an enormous amount of work needs to be done before you are really seeing the financial benefits and results. With most new businesses, set-up costs can be a drain on money and company owners often need to take economic risks to employ the right professionals to support the business and do the job. In established companies that are already thriving, new brands, products or services that are being introduced will always need an injection of cash, and / or new employees to fulfill the roles.


Can Luck Play a Part in Accomplishing Success?

One of the most well-known entrepreneurs in business is Richard Branson. In his book “The Virgin Way: Everything I know about leadership”, he states; “Those people and businesses that are generally considered fortunate or luckier than others are usually also the ones that are prepared to take the greatest risks and, by association, are also prepared to fall flat on their faces every so often”. Richard believes that if a business plays it safe and does not take risks, they will usually not be as successful as a business that does take chances. Of course, this comes with potential dangers, but any business will learn from taking a gamble and would usually not make repetitive mistakes. Risk taking is in a sense trying your luck, and therefore increasing your opportunity and success for fortuity.

Do You Count Yourself Lucky?

In our personal lives, to a certain extent, we control our destiny. If we do not buy a lottery ticket, we will not have the chance to win. If we do not apply for the job that we desire, we will not succeed in getting it. Some of us still believe in creating our own luck by crossing fingers, picking up a penny, searching for four leaf clovers or persevering in positive thinking. Most of us may think that luck is more destined than created but perhaps we are wrong. We all make decisions to try to achieve what we want to accomplish, always based on the hope that we may triumph in our efforts.

The same theory should apply to business. If you want your business to be a success, then you have to look at the long-term goals and create a multitude of stepping stones along the way to achieve them. Business plans, forecasting, marketing strategies, resources and industry expertise are all essentials to reach your targets. Luck may play a part in terms of timing but it is no coincidence in business. Taking positive action to drive your business forward, will bring in an effective force that should determine excellent results.