How to harness the power of luck

And once you do, pass it on.

Credit: Canva

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"Understanding that you can’t truly take credit for your successes nor truly blame others for their failures will humble you and make you more compassionate." - Tim Minchin

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A few years ago, I was at a company cocktail party chatting with a former boss of mine, Charlie, and at some point the conversation shifted to the topic of luck. He surprised me by asserting his belief in that some people are inherently lucky and they should not shy away from advertising this quality in their resume, or during a job interview. I remember my ex-boss as one of the most complete CEO’s that I’ve ever come across and there was rarely anything he said that I wouldn’t feel compelled to write down for later consultation or inspiration. But this comment instantly left a long-lasting impression in my mind without having to take any notes.

You see, CEOs will usually instruct their direct reports to work hard, hire qualified people and keep expenses down. But Charlie instilled two great business principles in me: one was to be extremely selective about clients that our firm agreed to work with, and the other was to harness the power of luck. To harness the power of luck? How? Is there really such a thing as luck? And what does luck have to do with business anyway?

Noah Webster’s classic definition of luck is "a purposeless, unpredictable and uncontrollable force that shapes events favorably or unfavorably for an individual, group or cause". Oxford Dictionaries simplifies it as "success or failure apparently brought by chance rather than through one’s own actions". Based on these definitions, luck seems to be a matter of random chance that determines someone’s fortune or misfortune (i.e. winning the lottery or being struck by lightning), so it’s understandable for anyone to prefer dismissing luck as a contributing factor to their professional success, as it could potentially take away from intent, skill and effort. 

Most of us have been raised and trained to rely on causality, a system that has been studied over centuries - mainly in the fields of science and philosophy. Causality offers us a framework under which one event (effect) can be explained as a direct result of another (cause), thus giving us a sense of control over results. 

Different religions tend to promote variations of causality. Catholicism advocates that those who are “free of guilt” will be sent to heaven, while sinners will be punished and sent to hell. Hinduism and Buddhism teach the importance of karma, a principle thru which good deeds contribute to future happiness, while bad deeds contribute to future suffering. And then, of course, there is the belief in supernatural forces (a.k.a. divine intervention) controlling everything, which leads some people to assert that such a thing as luck doesn’t even exist in the first place.

Ever noticed Google’s I’m Feeling Lucky button?

Fortunately (pun intended), the phenomenon has also been studied beyond the confines of randomness, causality and divine reward, so we can develop a richer perspective around it. The renowned Swiss psychologist Carl Jung argued that life is not a series of random events but rather an expression of a deeper order, or a governing dynamic that underlies the whole of human experience – social, emotional, psychological, and spiritual. He referred to those events as "meaningful coincidences", which is the basic definition of synchronicity, a term he coined in the early 20th century.

More recently, Dr. Dennis McFadden, Professor of Psychology at the University of Texas, called them "normal events of low probability". Although not as catchy a phrase as Jung’s "synchronicity", I find it interesting because when we think of probability, we can then create a context for ourselves that may increase the odds in our favor. It’s a happy medium between synchronicity and causality, if you will.

Journalist Max Gunther (who authored a total of 26 books in his lifetime) developed the theory of luck adjustment, based on observations of consistently lucky and consistently unlucky people, creating the argument that luck "is not as wild a thing as you may have supposed … it can be influenced and handled rationally".

I suspect all of the above approaches have some level of validity and application. More importantly, I am convinced that our attitudes and actions have the power to attract or deflect positive energy; and positive energy is indeed good for business. How we show up and relate to our co-workers, business partners and customers has a direct impact on how lucky we perceive ourselves to be. 

Here are three simple things that I’ve observed and learned over the years:

1. Manifest your appreciation and purpose.

After being diagnosed with ALS and forced to retire from baseball at the age of 36, Lou Gehrig gave the iconic "Luckiest Man on the Face of the Earth" farewell speech in 1939. I don’t think anyone would ever argue that Gehrig didn’t work hard for his accomplishments, yet he didn’t hesitate to attribute huge chunks of his success to his teammates, managers, family members, and to luck. His closing remark at the Yankee stadium, "I’ve got an awful lot to live for", is particularly chilling in light of the death sentence he’d just been given. He didn’t say those words because he thought he could somehow cheat his way around the illness. Rather, it was a contagious gesture of humility, and recognition that he was part of something much larger than himself. As far as I can tell, the lesson here is to always try and find an opportunity to express your gratitude (publicly or privately), even when not everything is going your way.

2. Make twists and turns count. 

An old friend of mine used to ask me "how are you treating life?" every time we’d meet. Notice that he would not ask me "how is life treating you?". The latter implies a passive (or reactive) approach, while the former implies an active (or proactive) one. The same is true for luck. Rather than perceiving luck as something that just happens to you, try switching your mindset to creating your own luck.

ROL (return on luck) is a term coined by Jim Collins, author of Great by Choice: Uncertainty, Chaos, and Luck - Why Some Thrive Despite Them All. Collins’ research showed that great companies didn't have any more luck than average companies during times of uncertainty. But great companies capitalized on their luck (both good and bad). So it's not the luck per se that counts, but what you do with it. Nassim Taleb echoes this view in his book The Black Swan, and offers his advice: "rely less on top-down planning and focus on maximum tinkering and recognizing opportunities when they present themselves". 

In 1968, 3M chemist Dr Spencer Silver tried to invent a new super-strong adhesive, but ended up with a low-tack glue. Six years went by, and he couldn't find a commercial application, until his colleague, Art Fry, realized the product could solve the persistent problem of bookmarks falling out of his hymnbook. Samples of a sticky, reusable bookmark were initially distributed among 3M staff, then the product was trialled in 1977, giving birth to the Post-it Notes we know today.

3. Mix it up and keep moving.

As the old adage goes, don’t push your luck. For a gambler, this can simply mean getting up and leaving the casino after being dealt a winning hand. But from a business perspective, its deeper meaning is to avoid getting too comfortable with success. Many companies may stumble upon a market need or a business model that brings them growth and fame over several years, only to find themselves hitting a dead end if they only stick to what they already know (if you’re still a Blackberry subscriber, I feel your pain).

There are moments in which you might just be pushing your luck if you sit still for too long. The National Geographic Society published its first magazine in 1888 and printed its first stunning color photographs of remote locations, wild animals and exotic cultures in the early 1900’s. The yellow-bound magazine became a coffee-table staple for generations of American families, but as the decades passed, young media consumers increasingly identified the brand as the magazine their parents read. Its core market increasingly shrunk and subscription revenue fell from $284 million in 1999 to $211 million in 2009. CEO John Fahey saw the need to turn the ship around before it hit the iceberg, spearheading an effort to reinvent the National Geographic brand across all media platforms, especially the National Geographic Channel, which launched in 2001. In its TV programming, NatGeo shifted from sober nature documentaries toward "factual entertainment", such as Ultimate Survival Alaska. Additionally, social networking and photo-sharing sites have given National Geographic a whole new way to showcase its stunning, award-winning photography and rich video content. Life magazine, as we all know, wasn’t so lucky.

Conclusion

One other thing that my ex-boss Charlie would constantly remind me of was the importance of showing up to work everyday like a winner, because people tend to like working with winners. As true as that may be, it never truly resonated with me, perhaps because I think a winning attitude is not necessarily always authentic.

On the other hand, luck is very hard to fake; and it’s absolutely clear to me that people enjoy working and playing with someone who they consider lucky. If you happen to be a lucky individual, go ahead and let others rub shoulders with you. Be generous and pass it forward. If you are a skeptic, just observe the patterns around your own life for a month and I’ll be curious to know what you discover.

Good luck.

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