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No such thing as luck

I suggested there was no such thing as luck. My friend Jake said “What about winning the lottery”?

Winning the lottery is not something you can influence directly without cheating, but it isn’t luck. There are a number of required steps on your part that you must do to actually win the lottery:

  1. Buy a ticket
  2. Remain in possession of ticket
  3. Be aware it is the winning ticket
  4. Claim the prize

Miss a step and you don’t win. In life and business many people skip some or all of the steps and then wonder why they don’t win. Of course the business steps are a little different:

  1. Have a product or service
  2. Offer your product or service for sale
  3. Find (marketing, etc.) a customer
  4. Close the sale

The only thing that changes is what are your odds of moving from step 2 to 3. If you want to sell pickled worm yogurt in your business then you will have a hard time finding customers. Might be similar to your odds of winning the lottery. But if you keep offering your product (or buying your ticket) then you increase your odds.

It is all about knowing the cost before you go into a deal. You could for example buy all the possible numeric combinations for the lottery and win, but that wouldn’t be a good investment. Likewise you could go door to door, offering a free sample of your yogurt to everyone on the planet, until you find someone who likes it. Again that would be a good propsition.

Now I don’t advocate playing the lottery or making pickled worm yogurt. Stick to something with better odds. The secret is to do a little research first. Invest into propositions that have a high chance of a good return. Don’t go for the million to 1 longshots. Find a sure thing that you can reproduce over and over again.