It's high time we solved the conflicting behaviour of luck and risk in relation to success. It is some of the most complicated uncertainties in the art of **decision making **no matter ordinary life or business.
Managing about what you know but how you behave. If you consider the greatest rich men of all time, character is there predominant secret. It is not a secret by the way, we all can see it. However, that’s not how we learn financial education . Every finance department lectures typically what to focus on. Unfortunately, it never mentions whatever will become your head-scratcher after focusing on whatever it told you.
Under what circumstances does someone who lacks education, lacks appropriate experience, lacks resources, and lacks necessary connections surprisingly to compete one with the best education, the most appropriate experience, the best resources and the best connections?
We all know there is nothing more humorous than the mysterious. Perhaps, I don’t think you will ever meet a market vendor performing a neurosurgery on a patient. Or find an ordinary mechanic constructing a processor chip astonishingly beating android’s own.
Investment is simply, the behavioral attitude of people with money. Oh lord! The bad news is that there is nothing as hard to teach as behavior even if you try with the super intellectuals – that’s humanity. Behavior can’t be wrapped in the same category as those complicated mathematical formulae you memorize. Let’s not beat around the bush - behavior is innate, unique accordingly from person to person. It is so hard to quantify, varies with time, and people are predisposed to contradict with its existence – mostly when it comes to explain about themselves.
Luck: Free success or risk?
Luck and risk lie on opposite sides of the coin. However, we tend to underrate the purpose of luck and risk, and a failure in disguise keeps us away from recognizing it.
Is there anything you really know that we don’t know? Probably, yes. Each one of us follows different routes to success. However, the principles don’t distinctively change.
I appreciate the great principle that Napoleon Hill merged from analysis of the Carnegie likes – Patience, Persistence and Perspiration form an unbeatable combination of success. We all agree upon it, no doubt about it unless when you used some hypnosis to achieve your success – which we can’t guarantee in our typical humanity.
We are always challenged to think intuitively about any circumstances that invade our spaces of effort however enormous they may be – think-like-we-are-the-supreme-being. It’s exaggerated I know. Nevertheless, the way we turn to think upon situations that turn bizarre, pose us to stretch our mental-muscle far beyond what we could literally imagine.
Then if so, what is the exact role of luck in successful conclusions.
This is a universal truth - luck plays a huge role in financial success. Except that it’s automatically next to impossible to measure luck. When it is proposed that some people’s success is owed to luck, it is regarded idiosyncratic and sounds mean to some people. Just because of its vagueness luck is abandoned as a factor of success.
This shares the same scenario with risk. Did that businesses that failed not try hard enough? Can we suggest that bad plans and decision-making were not satisfactory enough? Don’t overthink it. Are bad careers the results of laziness?
Of course, some businesses fail because of such cases except that it really depends. In fact, we are not really God to realise the every time cause-and-effect. And when it’s hard to realise, don’t be misled to assume the failure sector as originally caused by mistake. It’s itself a bigger mistake.
Our lives are a reflection of the experiences we have had and the people around us, majority of which is driven by luck, accident, and chance. The line lying between the adventuresome and devil-may-care is thinner than most of us think.
So, what should we take, luck or risk?
The fundamental conclusion is that you can’t believe in risk without believing in luck. Remember, they co-exist on opposite sides of the same coin. They form the simple idea that sometimes things that spontaneously happen influence outcomes more than effort can accomplish.
I want you to be successful, and I want you to earn it. But realize that not all success is due to hard work, and not all poverty is results from laziness. Keep it in mind when judging people, including yourself.
Reminder: Judgement is different from perception. I choose perception, what of you?