27th July,2023
The concept used more in the Startup eco system is applicable universally.
It essentially means, when choosing between two paths, choose the path that has a larger luck surface area.
It’s hard to get lucky watching TV at home—it’s easy to get lucky when you’re engaging and learning, physically or digitally.
Put yourself in a position where luck is more likely to strike.
It’s relatively easy to get lucky when you are working on interesting projects in a booming market and engaging with other people at the forefront of your field.
Startup success is very difficult, an uphill task with a very high failure rate, consequently, you would usually need a lucky break or two on your startup journey. Learning to intentionally increase the probability of striking gold is invaluable.
Spend more time on things that increase your luck surface area.
Much of what we call “luck” is actually the macro result of 1,000s of micro-actions.
Your daily habits put you in a position where “luck” is more likely to strike.
But, operating in a larger playing field, with a bigger market size & availability of better resources increase your ability and probability to succeed with the same effort.
Warren Buffet, the investment Guru, coined a term for this many years ago. He describes his success as reaping the ‘Chronological lottery’ – i.e. being at the right place at the right time & illustrates by adding that had he been born in Africa & invested there in his early investment years, the success would have been difficult if not impossible.
He increased his ‘Luck razor’ by investing in the US when the economy was booming in the 60s to the 80s.
Increase your ‘Luck surface Area’ and stay blessed forever.