Magazine article Risk Management

Get Lucky

Magazine article Risk Management

Get Lucky

Article excerpt

GET LUCKY

How to Put Planned Serendipity to Work for You and Your Business

by Thor Muller and Lane Becker

As business strategies go, relying on luck is not the most dependable route to success. But as many successful companies would attest, sometimes luck, more than skill or hard work, is the missing ingrethent that separates a struggling start-up from its Fortune 500 counterparts. Luck is how 3M was able to stumble upon the invention of Post-Its and turn it into a $100 milliona-year business, and, according to Google founder Sergei Brin, luck is the main reason why his company has found such success where others have not. But unfortunately, luck is random. It can't be harnessed in a business plan. Or can it?

According to Get Lucky authors Thor Muller and Lane Becker, there are ways to turn luck from an unpredictable force of nature into a tool for business success, it is all about utilizing what they call "planned serendipity." By developing eight specific skills, companies can set the stage so that they are better able to take advantage of lucky opportunities when they present themselves. In other words, companies like 3M and Google aren't just lucky, they prepare themselves to be lucky. …

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