Luck

Making Money Isn’t About Luck

We don't want to rely on luck. Instead, we want to develop a skill set that brings you luck or helps you find luck.

There are 4 kinds of luck (source)

  1. Blind luck: something out of your control happened in your favor. Having fortune, such as finding money on the street.
  2. Luck from hustling: By having persistence. Always doing hard work. Always hustling and always being in motion. You create your opportunities and you will find luck or visa versa. Example: 12 projects in 12 months.
  3. Luck from preparation: becoming good at spotting luck. If you are very skilled in a field, your knowledge can spot you something in your field that others can not. Example: TK
  4. Luck from your unique character: You build a unique character, a unique brand, a unique mindset. It's the weirdest and hardest kind of luck. For example, you are the best deep-sea diver. Someone finds a hidden treasure by blind luck (1) but is unable to reach it. He comes to you and shares it with you. You've created this luck, by being the best.

Assuming you control the fundamentals and was taught basic knowledge and schooling:

By having skills and determination, you can create your own luck and your own wealth. This will not happen without bad luck. But will be a slow and steady struggle. You will create opportunities or they will eventually find you.

Build your character in a way so luck becomes deterministic.

Be trustable, reliable, have high-integrity and be a long-term deal maker.

There are (rich) people who are looking to make deals in a trustworthy manner with strangers. These people will find you and offer you a pear of a deal or something else. Warren Buffett is a prime example. Due to his reputation, he gets offered unique deals all the time.

You will have to put yourself in a fragile position and put your accountability on the line.

This is a typical type 4 luck.

extreme people get extreme results.

Sam Altman

Eccentricity will help you dig deeper into this kind of luck. Being your unique you. There's no competition for being you. Don't imitate or copy. Do your own thing. Escape competition through authenticity and look for ways to monetize yourself.

Also, see productize yourself.