LUCK

Luck happens, Good or Bad, to every one,

whether we like it or not

Luck - Definition

• Some significant aspect of the event occurs largely or entirely independent of the actions of the key players in the organization/system

• The event has a potentially significant consequences : Good or Bad

• The event has some element of unpredictability

NO

• Luck play differentiating role, an explanatory role or a definitive role in success.

• Luck is where preparation meets opportunity

• The harder I work, the luckier I get

Luck does not cause success.

People Do

Are you Lucky?

Do you get a high Return on Luck?

Most significant forms of Luck not as “What”

in the form of “Who”

What is your Luck?

Who is your best Luck?

Pe o p l e L u c k

D o

D i s c i p l i n e d f a n a ti c

E m p i r i c a l

C r e a ti v e

p r o d u c ti v e l y p a r a n o i d

L e a d

B u i l d t e a m s

P u r s u e p u r p o s e

B u i l d o r g a n i z a ti o n s

B u i l d c u l t u r e s

E x e m p l i f y v a l u e s

A c h i e v e b i g h a i r y a u d a c i o u s g o a l s

People Luck: the luck of finding the right Mentor, Partner, Teammate, Leader, Friend – is one of the most important

R e s i l i e n c e Success people use difficulty

to deepen purpose,

recommit to values,

increase discipline,

respond with creativity, and

heighten productive

paranoia,

Resilience, NOT LUCK is the Signature of Greatness

Getting a high on Return on Luck

• Throwing yourself at the luck event with ferocious intensity

• Disrupting your life• Not letting up

• Has a huge multiplicative effect• Sustained your effort to reach the goal

Return on Luck

Great Return on Good Luck

Poor Return on Good Luck

Great Return on Bad Luck

Poor Return on Bad Luck

Luck and Outcome

• An enterprise can get bad luck yet create a good outcome

• A company can squander good luck and get a bad outcome

• Goals live on the other side of obstacles and challenges

• Along the way, make no excuse, and no blame

• How to use that bad luck to make stronger, to turn into, “one of the bets things that ever happened” to not let it become a psychological prison – Successors do

Managing the Luck• Cultivating the ability to zoom out to recognize luck when it

happens

• Developing the wisdom to see, when and when not, to let luck disrupt your plans

• Being sufficiently well prepared to endure an inevitable spate of bad luck

• Creating a positive return on luck- both good and bad- when it comes

Luck is not StrategyReturn on Luck is a Strategy

Risk

• Death Line Risk

• Asymmetrical Risk

• Uncontrollable Risk

• Risks that could kill o severely damage the enterprise

• Risks are those for which the potential downside is much bigger than the potential upside

• Risks are those expose the enterprise to forces and eventsthat it has little ability to manage or control

Time Based Risk

• When the degree of risk is tied to the pace of events, and the speed of decisions and actions

Correlation between good and bad outcomes relative to Speed of RecognitionSpeed of DecisionSpeed of Execution

Should we be Fast to act or Slow?Having presence of mind in asking

“How much time before our risk profile changes?”

Develop the ability to recognize defining moments that

call for disrupting life plan, changing the focus of your

intensity, and /or

rearranging your agenda, because of opportunity or peril

or both