Two of the smartest minds I know, who made hundreds of millions during their lives, both said a lot of their wealth was down to luck. Luck is not what we think it means. It doesn’t mean waiting around all day for millions to drop from the sky then call yourself “lucky” when a fair few land in your lap.

Luck = preparation + timing

You have to put in the work (and I mean A LOT) and you have to stick with your craft. For so long that when you meet the perfect moment it almost feels (and looks) like luck.

These two both had rich and exciting careers in finance/VC that came about from putting in the work, not taking no for an answer and having grit + determination. 

Both of these people told me that 90% of their wealth came from luck. As a result of having backed the right founder, made the right investment and loaded up big on the stock market and real estate market at the best times (‘87, ‘99, ‘08). 

But it also comes from something else and I think Mark Zuckerberg sums it up perfectly:

“Your ability to succeed depends on your willingness to be embarrassed and fail” 

Would you be OK to fail – and in public? Would you choose to embarrass yourself by trying something new? The more you can do these 2 things, the more luck will follow you. Like a cute puppy you can’t get rid of.

And a really good place to start is by writing. Putting yourself out there for all those billions of eyeballs that could find your work.

Get your opinions out there. Be wrong. Try something new. Experiment. Write what you want to say not what you think people want you to say. And writing opens you up to a whole new world of criticism (I cringe whenever I spot my typos – sorry in advance!).

It’s harder putting your opinions out there than it is putting yourself out there but I suppose they’re kinda one in the same! Post something on LinkedIn. And experience it disappearing into the social abyss. Be ignored. These are all things that build you. 

Always go for the uncomfortable route

To be above-average literally means to avoid the stuff the average people do. Don’t choose comfort. Comfort will crush you. It will stunt you. Choose the move that gets your heart rate up, that makes you feel a little anxious and freaked out – but so energised too!

That’s what we’re here for. Sticking in your comfort zone is way too boring. You can do better. Heck, you are better.

We all know people who waited around for life to gift them diamonds. That never happens. You’ve gotta go get the diamonds yourself. And I’ve seen people, talented people, wait around for things. Thinking the universe owes them something. It doesn’t.

We aren’t “owed” anything.

That’s either super liberating or incredibly freaky! But it’s the truth. 

The more you try the more you learn (and eventually earn)

You ever come across those people who just so happened to meet some well-connected finance guy on the plane or schmoozed to a stranger while waiting in line only to find out they’re actually the owner of a well-known biz!

Well, I bet you think that only the lucky ones get to meet these sorts of people! And for a while I used to think that until I met someone who totally changed the way I think about luck.

This guy would chat to people while waiting in line, on the plane, to his uber driver, to the cashier. He spoke to everyone he came across. And I don’t just mean a simple ‘hi, how are you?’ but more of an I-wanna-get-to-know-you. He said every convo teaches him something new.

He went out of his comfort zone time and time again but after talking to 100s of people you eventually meet that 1 who teaches you something profound. So all those rejected convos or dead-end chit-chat that went nowhere led him to the ones that made all the difference. 

So if you’re feeling a bit stuck, try and talk to 1 stranger each day. It could be the person behind the till, your uber driver or even the person sat next to you on the bus. At first it’s a little awkward but most people are happy to have a chat and talk about themselves! Psst: 99% of people love talking about themselves. So use that to your advantage.

If you see someone reading an investment mag that’s a great way to ask them about finance/markets or why they’re reading that and not something else! Like so many things in life, it’s a numbers’ game. The more people you talk to, the more you’ll learn. Luck comes about from trying new things and not staying stuck in your comfort rut.

I was on a plane and was sat next to this 70yo and saw him reading The Economist so I asked him if he enjoyed finance. He said he was an investment banker-turned hedge fund manager! I was so curious how he got there but he did not have a traditional background.

Be brave enough to ask for what you want

He came from a poor family and he wanted to be rich. So he knocked on doors at some of the most affluent postcodes in London and some opened the door. And when he asked them what was it that got you here? They all said: make your money work for you.

But first, find something you can do well, get really good, and make you’re so good that no one can turn you down. Some had founded businesses but many, he said, had backed the right people, made sound investments and stuck with them for a long time.

They never gave up. And one of the guys who he spoke to offered him an internship in his global advisory team. And eventually this guy climbed the ranks. Now, he’s 70yo and has made enough money to never need to think about money ever again. 

You have to put yourself out there. And you have to risk your money to get “lucky”.

The people who made it seem like they got lucky ended up risking their money when no one else wanted to. Then, when you turn the clock forward it looks like luck. 

The secret sauce is sticking with something for long enough because luck happens when you’re not looking.

Be prepared when luck isn’t on your side (yet) 

Sure, waiting around for luck isn’t gonna happen. But sometimes you might feel like you’ve given 110% and you’re still not seeing any real fruits. None worth having anyway! So you might flirt with the Q-word. Quitting. No matter how much you feel like giving up, stay with it.

And right there, when you keep going (even though your heart is telling you to shut it down) that’s when you get the luckiest.

Random things will happen – great things – when you keep on going. And if they don’t, they will. Resilience is not bought; it gets built. It’s like any muscle. You gotta work at it and eventually it’ll work for you.  

We can all do with a little more luck in our lives.

So go out there and grab it with both hands (and feet). You deserve whatever’s coming your way. Because something is round the bend. It always is. You just gotta go out and build it. And then that luck factor will follow.

Disclaimer: This blog is not investment or financial advice. It is my opinion only. This blog is not a personal recommendation to buy/sell any security, or to adopt any such investment strategy. Always do your own research before you commit to any investment.