How Much Does Luck Play Into Business Success?

Mar 20, 2023 | Blog

If you’re an aspiring business owner, you might be wondering if hard work is enough to be successful or if you need luck on your side, too. Many experienced entrepreneurs will say they go hand in hand. When you work hard, you create more opportunities for yourself that can eventually lead to your big break. You can think of luck as the fruit of hard work, skill, and focus.

Successful business owners have certain traits in common that help them draw in good fortune. Here are some of their useful traits to help you create your own luck.

They Understand the Value of Hard Work and Perseverance

Successful business owners are where they are now because they know the value of hard work. They don’t sit around and wait for things to fall into place. They identify their goals and work through all the challenges and setbacks until they achieve their goals. Quitting isn’t an option for them. Because they’re determined to stick around, luck eventually finds them and opportunities gradually open.

They Take Risks

All businesses start with someone taking a chance on an idea, and there will be many more risks after that. Successful business owners don’t shy away from these uncertainties. They’re willing to take the leap and try something new, even if they don’t know where it will lead. They don’t stop taking risks until they’ve built a profitable and sustainable business. After all, you won’t know how lucky you can get until you put your luck to the test.

They Put Their Customers First

Business owners owe much of their success to their customers. Without them, their business will lose its purpose. If you’re trying to find success for your business, consider your customers in all the decisions you make. Put them first, even if you have a thousand tasks you need to accomplish. It’ll be worth it in the long run. Consider it your great fortune when you find customers who need your products or services.

They Seize the Moment

There are opportunities everywhere, whether it’s a problem you can solve, a question you can answer, or a trend you can hop on. But they’re not going to wait around for you. When you procrastinate, you may lose out on these lucky moments. Successful business owners know how to seize the moment. They don’t put things off for the next day, even if they can think of a million excuses to delay.

They Build Their Network and Help Others

It’s a challenging climb to the top, but it’s much easier with the help of others. Successful business owners know the importance of building their professional network and providing

assistance whenever possible. The more connections you have and the more people you help, the more opportunities will come your way. The good you extend to others will come back to you in ways you don’t expect.

They Learn From Their Failures

You can’t be lucky all the time. You take your chances, and if you fail, you learn from your mistakes and move on. Successful business owners don’t let setbacks keep them down. They understand that setbacks and challenges are part of the journey to the top.

The Bottom Line

Luck does play a role in a business’s success. But don’t wait around for it to come to you. Successful business owners have the initiative to create their own luck and take advantage of the opportunities around them. For more information, contact Action Coach Lincoln at 402-587-6329.