Between work, the stock market, my health and life in general, I’ve been on a bit of a lucky streak. I’m thoroughly enjoying my good fortune, because I’ve also had my fair share of bad luck. I know luck can turn on a dime and bad luck can appear from out of nowhere. I also know good luck smiles on those who encourage it to come.

Maximizing Opportunity

The surest way I know to get lucky is to plan, prepare and execute on any opportunity that comes your way. Yes, it’s important to have a goal and a plan, but it’s also important to take action when luck strikes. Recently, I’ve heard it called a “Bias Toward Action” and I think that’s a perfect description. People who plan but never execute are basically just dreaming. People who act without planning often fail, but they are way more likely to succeed at something, at some point. In summary, action is more important than planning, but doing both gives you the best opportunity to succeed.

Why we are talking about luck, here is another interesting thing I have noticed. Having big, audacious goals seems to lead to big success. The people who have a huge goal with no clear way to accomplish it, often do. It’s almost as though luck rewards those brash few, who dream big and believe in themselves. If you are going to do something, you may as well go big and swing for the fences. What is the sense of winning $5 in the lottery, starting a business that doesn’t make any money or getting a 1% return on an investment? Invest your time and energy in a more promising opportunity, with a lot of upside potential and you may win big.

Appreciating Good Fortune

I have one final thought about luck and good fortune. In order to fully enjoy and appreciate it, you must first be thankful for it. Gratitude is the key to happiness for most things, but it’s extremely important for anything that seems to appear out of luck. Otherwise, you may just assume you were entitled of this gift, instead of being fortunate to have received it. You can even take gratitude to the next level by giving back or paying it forward. There is no better feeling than to share your good fortune with others, especially those who are struggling.

The Bottom Line

The bottom line is, while luck is never something you can count on, it can be invited and cultivated. The more you plan and the harder you work, the more likely luck will turn in your favor.

“Luck is what happens when preparation meets opportunity.”

– Seneca