Leaders need to be open to whatever luck or misfortune is thrown at them. Yet great leaders often seem to be luckier than others. Or are great leaders just better able to respond to the circumstances they are dealt?
What about these popular sayings: “The meeting of preparation with opportunity generates the offspring we call luck.” “You make your own luck.” And according to Ray Kroc, “Luck is a dividend of sweat. The more you sweat, the luckier you get.”
The Luck Factor
Luck is a skill that can be developed. It’s about a flexibility of mind and a willingness to listen to your heart and trust your gut. Take advantage of chance occurrences, break the weekly routine, and even have the courage to let go. The world is full of opportunity if you’re prepared to embrace it. Luck is as much about what you expect as what you do. Do you wait for success to happen, or do you get out there and make it happen?
Born or Made
To be a good leader requires astute leadership skills and competencies that typically extend in performance appraisals: good at vision building, inspiring people, making strategic decisions and recognizing the threats. While luck may feel random, selective, chaotic and arbitrary. Can you master being a lucky leader? Can you create luck?
Think Return on Luck
Return on Luck is a concept developed in Jim Collins’ book, Great by Choice. Collins suggests that all companies have luck and, by inference, all leaders have lucky breaks. What distinguishes those who manage to exploit their luck is the capacity to capitalize on the luck they get. This ability is the vital factor of ROL.
First, be ready for bad luck. Events happen, you just do not know when and in what shape. That means always have a Plan B.
Second, welcome the fortuitous. Be ready to see good luck events when they happen. Don’t be so stuck in the daily grind of “business as usual” that you miss see them.
Third, seize the moment. Once you recognize a good luck event, respond quickly and start executing your strategy brilliantly so you don’t squander it.
Finally, they call this getting a high return on luck. Interestingly, Napoleon said, “Circumstances – what are circumstances? I make circumstances.”
What about You
How’s your luck? What can you do to recognize and leverage your luck? How can you improve your readiness, responsiveness, and resilience?
Let’s talk. I want to help you identify ways to create your own leadership luck and strategies for achieving the best results in your work and life. Interested? Schedule a call today!