What is the Role of Luck in Investing and Success?
Apr 30, 2018
Are you lucky? How important is luck in your success in property investment, in business or as an entrepreneur?
We often think success comes as a reward to the hardest working, most focused, and most talented individuals.
But is that really the case?
Believe it or not, luck may play a bigger role in success than you think.
Today I’ll be talking to Louise Bedford about what science has to say about the role that luck plays in success in business and property investment.
Some of the things we discuss:
- Whether or not people create their own opportunities
- Why people may have difficulty seeing opportunities
- Some of the findings put together by Scott Barry Kaufman and published in Scientific American
- A study by Italian physicists Alessandro Pluchino and Andrea Raspisarda and Italian economist Alessio Biondo that attempts to quantify the role of luck and talent in successful careers
- How people can learn to see opportunities when they arise
- The most important keys to achieving success
- Long-term goals
- Studying and learning
- Building a team of consultants and mentors
- Optimism
- Decisiveness
- Specialise rather than diversify
- Admit to mistakes and correct them
- The greatest driving force for people who have achieves success
- What people can do when they fear change but are eager for the opportunities that change can bring
- The top three things that Michael would want to say to young people
- How the people you associate with can affect your ability to achieve success
- Michael Yardney’s Wealth Retreat
Links and Resources:
Some of our favourite quotes from the show:
“Luck finds positive people – people who seek opportunities. I’ve found luck favours the persistent.” Michael Yardney
“You must invest your time and energy in yourself – in your personal development perfecting your skills and knowledge.” Michael Yardney
“Never quit on your dream. Luck does not visit quitters.” Michael Yardney
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