A Matter of Choice

I attended a lecture this week in which the speaker was discussing the concept of choices. His conclusion, based on a variety of arguments, is that the fundamental difference between people is the choices we make.

I then reflected on a conversation I had with an entrepreneur last week, in which we were discussing the concept of luck when it comes to developing a successful business. My opinion, which is certainly not universal, is that there is limited amounts of luck when it comes to success.

To be more precise, looking at success stories in hindsight, there is rarely a critical moment in the story that the subject was “lucky” to have encountered which defined their success. In fact, the stories will often be filled with failures, hard work, contributions from other people, and eventually, success (according to your preferred definition of the word).

When appraising a new idea for a business, I therefore combine these two concepts. As an entrepreneur, you have a choice to make – and you are likely making these choices all the time. You need to decide which idea to pursue as a business, who to partner with, how to go about achieving success.

On top of that, you need to act to remove luck from the equation. If you work hard, you will, at the least, learn something from your endeavors. You will be giving yourself the best chance possible for success.

It is, naturally, your choice. You can choose to rely on luck, and hope that your luck is good (but then why don’t you just buy lottery tickets and hope for the winning numbers). Alternatively, you can choose to work hard, and to learn from your experiences, and you’ll find that luck is not really a factor in success.