While reading a Business textbook, I was extremely surprised to see that the author listed luck as one of the reasons why small businesses succeed. It is almost unbelievable that a business textbook would imply that you can succeed in business with some kind of magical force. A quick search for the definition of luck from various dictionaries brings me to conclude that luck is “some kind of force beyond our own control that shapes events and circumstances that create amazing or unfavorable outcomes.” However, I agree with the author on other three things he lists as reasons why businesses succeed, these are (1) hard work, (2) market demand and (3) managerial competence; but luck should not be mentioned in the textbook. I can think of at least a dozen of other and better reasons why businesses succeed.
A former boss of mine once said, luck is the point where preparation meets the opportunity; and I firmly believe in that. The reason why businesses succeed is because they have done enough work and preparation to take advantage of opportunities that present themselves. Referring back to the textbook, the author uses a horrible example to describe what luck really is. “Entrepreneur started an environmental clean-up firm, he struggled to keep his business afloat. Then the government committed a large sum of money for toxic waste clean-up. He was able to get several large contracts, and his business is thriving.” Luck by traditional definition had nothing to do with this entrepreneur’s large contracts from the government. He was simply prepared to take advantage of the opportunity. He had a firm, he worked hard, he was determined, he had enough cash to last as long as possible. The entrepreneur wasn’t lucky, he was ready.
The bottom line is, there are opportunities everywhere. It is just a matter of whether we are prepared and ready to take advantage of them.
