What is the Formula of Success?
The Formula of Success is a secret formula that everyone has tried to crack one way or another.
One person seems to have the formula figured out, and I couldn’t agree with him more.
For the last week I’ve been reading the book “Thinking Fast and Slow” by Nobel Prize winner Daniel Kahneman. So far I’m halfway completed it, but it’s already shared so much knowledge and perspectives on the way people think.
In one of the chapters where Kahneman talks about regression to the mean, he shares a formula he refers to as his “favorite equation.”
The equation is the formula of success, and is rather easy for anyone to remember.
Success = Talent + Luck
He goes on to say that great success is equal to a little more talent and a lot of luck. This couldn’t be any more true, and I was fortunate enough to be a part of a conversation where this formula came into play.
Formula of Success in Action!
Today in the office, it’s the boss’s birthday, and everyone around the water cooler was discussing what we should get the boss as a gift. Inevitably the question of how old he is came up in discussion.
I went in to fill everyone in on his age, based off of what I remembered from last year, which was followed by disbelief how young he was.
One of the newest team members in our company went on to say how bad that made him feel. He was thinking about how they are both similar in age and how he hasn’t amounted up to as much as the boss has.
Immediately after he said started talking about this, the formula of success popped into my head. At that moment, the formula kind of took on a concrete placement in my beliefs.
I knew for a fact that by pure luck if the boss wasn’t in the right place at the right time, he wouldn’t be where he is. Maybe he would in some way or another, but as the way things were it took a little luck.
When he started his career in entrepreneurship, he wasn’t out there looking to own a business or run multiple companies. He was just out there trying to make a living and supply for his new family.
This is when luck kicks in..
The company he was working for was selling their stores and he was offered to run the stores in exchange for a partnership in the business. From there, their operations expanded and grew across Western Canada. Eventually it got too large for him, and he sold his shares to his partners.
Again, by pure luck, he was offered the opportunity to get a construction company up and running. At that time, he was already running the construction of his own stores and other people were starting to take notice of the work being done. If he were to sell his shares 5 months earlier, I don’t think he’d be in the same boat.
Shortly after selling his shares and starting up his own construction company, a friend came to him with an opportunity to buy a business from an owner who was ready to retire. Because his shares of his buyout were starting to be paid, he had money to partner up in the business.
Once again by luck, if he had opted out earlier, he wouldn’t of had the opportunity to buy into the new business that currently houses both of his companies.
Lesson of the Formula of Success
If you’ve been working yourself tirelessly and can’t seem to figure out why you can’t seem to get ahead. Don’t be too hard on yourself.
You may be the best option there is out there for whatever it is you do, you just need to wait on a little luck.
And as any blackjack player knows, luck eventually comes. Sometimes you just need to ride out the shoe and wait for luck to come your way.
PS. I don’t condone gambling. I just have a good knowledge of blackjack.