Luck & Stories of Success

There are some factors within individual control that influence success. Hard work is clearly important, good decision-making is important, and an ability to cooperate and work well with others is also important for success. But none of these factors on their own are sufficient for success, at least many prominent thinkers and researchers seem to agree that they are not sufficient. One very successful researcher who would agree that these character, personality, or individual traits are not enough is Daniel Kahneman, the Nobel Prize winning professor from Princeton.

 

Kahneman’s research, the portion which won him the Nobel Prize was conducted with Amos Tversky, was incredibly successful and influential within psychology and economics. But remembering the lessons he learned from his own research, Kahneman writes the following about his academic journey and the studies he shares in his book:

 

“A recurrent theme of this book is that luck plays a large role in every story of success; it is almost always easy to identify a small change in the story that would have turned a remarkable achievement into a mediocre outcome. Our story was no exception.”

 

In anything we do, a certain amount of luck is necessary for any level of success, and much of that luck is beyond our control. Some songs really take off and become major hits, even if the song is objectively not as catchy or as good as other songs (is there any other way to explain Gangnam Style?). Sometimes a mention by a celebrity or already famous author can ignite the popularity of another writer, and sometimes a good referral can help jump-start the popularity of a restaurant. We can work hard, put our best product forward, and make smart choices, but the level of success we achieve can sometimes be as random as the right person telling another right person about what we are doing.

 

Timing, connections, and fortunate births are all luck factors that we don’t control, but that can hugely influence our stories. Being born without a disability or costly medical condition can allow you to save for a rainy day. Being born in a country with functioning roads and postal services can allow you to embark on a new business venture. And happening to have a neighbor who knows some body who can help your kid get into a good college can allow your child and family to move up in ways that might have otherwise been impossible.

 

There are certain things we can do to prepare ourselves to take advantage of good luck, but we need to recognize how important luck is. We have to acknowledge it and remember that our stories are full of luck, and that not everyone has a story with as equally good luck as we do. We can’t assume that our success was all due to factors relating to our good personal traits and habits (a cognitive error that Kahneman discusses in his book). To fully understand the world, we have to look at it objectively, and that requires that we think critically and honestly about the good luck we have had.

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