Why Are Successful Entrepreneurs So Darn Lucky!

What is your definition of the word "luck", not thetheir investment in equity in these firms. And yet,
Webster's Dictionary definition, your definition? Is itnone of the accused executives knew anything
being in the right place at the right time? Picking theabout what was going on (they claim) inside their
right dealer in a casino? Turning up at a party wherebusinesses while they were taking tens of millions of
you meet your current wife (could be good or baddollars in annual compensation. Responsibility is an
luck)?Entrepreneurs seem to be so lucky, so often.endangered quality in a modern world that has
People see their success and attribute much of theirembraced the psycho-babble of endless victimology!If
good fortune to luck. What luck that they thoughtI was the Earth Czar, and could re-engineer one
the idea would work. The luck of the Irish for oldphysical feature of the human body, it would be this:
Doyle, don't you think? It was his great good luck tothe palm of every human being's left hand would
file that patent when he did.The passengers in lifehave a small mirror permanently attached. And
attribute so much of fate and successful outcomeseveryday, several times per day, we could look at
to random luck. "Lightning strikes for others, justthe mirror and see the reflection of a man, or a
never me," is a bromide that covers the view ofmouse. Successful people, including every fine
people that are perpetually success challenged. Theentrepreneur I have ever known, assume full
masses that think like this can not see, orresponsibility for every decision that they take. The
comprehend, that luck has little to do with achievingassignment of blame on another person, or an
real success as an entrepreneur.In business, luck isoutside condition is a diversion.As human beings we
created. Luck generally evolves from capitalizing on ahave the unique ability to make choices, free will and
risk taken. Entrepreneurs are not passengers: theythe ability to reason. These tools are denied every
are drivers. The drive to succeed and overcomeother form of life. A lion or a fruit fly operates solely
obstacles inherent in attempting to create any newon a pre-programmed set of instincts. A lion is nor
business requires drive, courage, and passion. Notresponsible for what it kills. It is on earth to kill.
luck!This is not to say that luck never occurs and isHowever, if a person kills, they are solely
not appreciated. It does occur and it is appreciated.responsible.Entrepreneurs assume full responsibility for
However, when luck rears its happy face it is usuallytheir success, and failure. The luck so many would
the confluence of hard work bumping intosubscribe to a successful entrepreneur is actually a
opportunity! If an entrepreneur accidentally bumpsmanifestation of the ability to make reasoned
into a funding source while enjoying a latte tomorrowdecisions and abide the consequences of those
morning at Starbucks, is this luck or the result of achoices.PerseveranceImagine a boy, dreaming of
business proposition that is properly seasoned?Myplaying and starring at professional football, and
experience is that entrepreneurs create luck bysuffering 10 years of indignity, disappointment and
stirring a unique brew of personal qualities. Some or allfailure in trying to achieve this goal. After an average
of the following traits are obvious, in every successhigh school career, playing in a rural town with no
from the Wright Brothers to Mary Kay Ash. Theseexposure, he is not offered a single scholarship to a
qualities are the true ingredients required that makeDivision-1 NCAA school. He plays for four, largely
luck occur.ConfidenceEvery entrepreneur isundistinguished years at a small school in Iowa. After
perpetually afraid. The fear of failure is palpable. Theygraduating, the National Football League does not
can not stand the thought of failure and will dodraft him and he is not offered a free agent tryout.
anything possible to avoid it. The need to succeed isHe goes to work in a super market and catches on
demonstrated in a confidence that they develop inwith an Arena Football League team. The pay per
their novel product, their ultimate success, and thegame is $400.Interestingly, his growing success in the
benefits their product will produce for consumers.Arena Football League over several seasons makes
Confidence smothers fear. Fear creates inertia.his name at least a point of conversation in one NFL
Failures are always afraid, to try, to fail, to beoffice. He is scouted, thought to be a bit too old but
criticized. The confidence necessary to succeed in amaybe worth a test in NFL Europe. After one very
brutal marketplace is earned through hard work,successful season in Europe, he is invited to a NFL
study, preparedness and finding answers totraining camp. As camp began, he was listed as the
obstacles.We all have doubts. However, successfulfifth quarterback on the team's depth chart. An injury
entrepreneurs overcome fear and doubt and grow into a quarterback, then another quarterback injury,
confidence as they master their task. The confidenceand now third on the depth chart, he has realized his
earned is a great key to attainment of success.dream. He is signed to a contract.Now the tale could
There is no luck involved.Learn From MistakesMy firstend here. He is a real NFL quarterback. Goal achieved.
sales manager had only three basic bits of wisdomHowever, our struggling quarterback has persisted
for a youngster starting out on a sales career:1. Makeand now that he has made a team he wants to play,
all of the mistakes you must, once!2. Study and learnand knows, really knows that he will be a star if
from each mistake you make!3. If you are torngiven a chance. It takes another season, a few more
between choices, and face a choice that might leadinjuries and he gets his shot. At the age of 28 he
to a mistake, make the most aggressiveleads his team to a Super Bowl championship, is the
choice!Everybody makes mistakes. Coca-Cola broughtleague Most Valuable Player, is named All Pro and
out New Coke and almost murdered a world famoussigns a multi-million dollar contract.Kurt Warner, our
brand. Merck was seriously harmed by the failure ofquarterback, is the most unlikely of football
the prescription drug Vioxx. What was the Fordsuccesses. Every college team, every scout and
Motor Car Co. thinking in 1958 when the Edsel wasevery professional team missed on him. In a sport
introduced? There was the matter of a President ofwhere players are computer rated, graded, tested,
the United States and an intern. Pete Rose has lostweighed, timed, quizzed and probed from high school
his almost certain place in the Baseball Hall of Fameonward not one assessment rated him a player of
over gambling.The key is not the mistake, butpotential. And yet, he is one of the best players in
learning from and not repeating the mistake. The onlyprofessional football.Perseverance can not be taught.
way we avoid mistakes (almost impossible in all butSome people quit at the first sign of trouble. Edison
the most sedentary lives) is to never try anythingtested over 1000 versions of the light bulb before he
new. Entrepreneurs are always going to try. Theperfected his invention. Kurt Warner would not listen
successful ones make aggressive mistakes, learnto the experts telling to get on with his life's work
from their errors and this minimizes the probability ofand that work would not include football. He made his
repeat errors.A baseball player is considered a star ifown luck through work, sweat, sacrifice and
a .300 batting average is achieved. This means thatperseverance.Geoff Ficke has been a serial
failure is a result 70% of the times they bat. Playersentrepreneur for almost 50 years. As a small boy,
hate to make outs. No one could succeed at baseballearning his spending money doing odd jobs in the
unless they seek and obtain a psychological comfortneighborhood, he learned the value of selling himself,
zone that enables them to filter and balance theoffering service and value for money.After putting
mistakes in making outs and the positives they learnhimself through the University of Kentucky (B.A.
from making a base hit.Broadcast Journalism, 1969) and serving in the United
After an out is made, players can not wait for theirStates Marine Corp, Mr. Ficke commenced a career in
next trip to the plate to get another chance. This isthe cosmetic industry. After rising to National Sales
the way entrepreneurs think after a mistake isManager for Vidal Sassoon Hair Care at age 28, he
made.ResponsibilityA Congressman drives while drunk,then launched a number of ventures, including Rubigo
crashes his car, hits a parked police vehicle and thenCosmetics, Parfums Pierre Wulff Paris, Le Bain
claims amnesia. Did the dog ever eat yourCouture and Fashion Fragrance.Mr. Ficke and his
homework? The NBC television news magazine 20consulting firm, Duquesa Marketing, Inc. ( has assisted
20 has run several shows showing men using thebusinesses large and small, domestic and international,
inter-net to organize meetings hoping to conclude aentrepreneurs, inventors and students in new product
sexual encounter with very young girls. The men,development, capital formation, licensing, marketing,
caught in the act, always deny intent, knowledge orsales and business plans and successful
responsibility. The top executives at Global Crossing,implementation of his customized strategies. He is a
Enron and Adelphia scandalously bankrupted theirSenior Fellow at the Page Center for Entrepreneurial
huge businesses, costing thousands of employeesStudies, Business School, Miami University, Oxford,
their jobs and pensions and millions of investors lostOhio.