No one is born lucky. As Albert M. Greenfield once said – luck is an accident that happens to the competent. The reality is that those we perceive as lucky are simply people who are constantly looking for opportunities and ready to seize them once they come up. In other words, they create their own luck.
Creating your luck as an entrepreneur involves a combination of strategic actions, mindset shifts, and habits that increase your opportunities for success.
Here’s how you can “make your own luck”:
1. Be Prepared and Stay Ready
Luck favors those who are constantly prepared. This means staying up-to-date on industry trends, sharpening your skills, and being aware of emerging technologies or changes in the market. Entrepreneurs who dedicate time to learning and self-improvement are better equipped to recognize and seize opportunities others may overlook.
Another important component for being ready is to keep resources available. Often, entrepreneurs miss opportunities because they don’t have the resources to act. Whether it’s having liquid capital to invest in a quick opportunity or extra time to dedicate to a new project, keeping a buffer in your finances and schedule allows you to jump on unexpected possibilities as they arise.
2. Networking and Building Relationships
Expanding your network means building connections with people from diverse industries, skills, and backgrounds. Every person you meet can introduce you to new ideas, partnerships, or opportunities. Active networking means attending industry events, joining groups, and even maintaining an active presence on social media platforms.
An underrated way to create luck that not much people talk about is to help others. By offering advice, making introductions, or sharing resources, you create goodwill. This builds a strong network of people who may be more inclined to help you when you need it. Luck often comes through people you’ve helped in the past.
3. Take Calculated Risks
Many entrepreneurs wait for the “perfect moment,” but often luck comes to those who act. Taking the initiative to launch a product, reach out to a potential partner, or enter a new market can open doors you didn’t expect. Being proactive doesn’t mean being reckless—it’s about recognizing that waiting too long can result in missed opportunities.
While being proactive is important to make your own luck, you must also need to be willing to take calculated risks. Diversify your ventures, experiments, or projects so that if one fails, you can still leverage another. By taking small, manageable risks, you increase the number of chances where luck can come into play.
4. Embrace Failure and Adaptation
Failure can be a blessing in disguise. Many successful entrepreneurs have failed multiple times before finding their “lucky break.” Instead of viewing failure as a dead end, treat it as feedback. Each failure teaches you what doesn’t work, bringing you closer to discovering what does.
When failure does happen, entrepreneurs who are adaptable have an advantage. They can pivot their strategies or products based on real-time feedback or market changes. In many cases, what seems like a roadblock can become a lucky opportunity if you’re willing to adjust your approach.
5. Position Yourself in High-Opportunity Environments
Successful entrepreneurs often position themselves in environments that generate new opportunities. It could also mean joining online forums or communities where industry leaders gather to exchange ideas. Entrepreneurs may also attend networking events, conferences, or workshops, and strike up conversations with strangers. Many business deals, partnerships, or breakthrough ideas come from casual, unexpected interactions.
6. Maintain a Positive, Opportunistic Mindset
Entrepreneurs who maintain a positive outlook are more likely to persevere when faced with challenges. Optimism helps you view setbacks as temporary and problems as solvable. The more persistent you are in chasing your goals, the higher the likelihood that an unexpected opportunity (luck) will present itself.
Another important factor to creating your own luck is to focus on solutions rather than problems. Being solution-oriented allows you to see opportunities in difficult situations where others see obstacles. This mindset encourages creativity, enabling you to turn potential setbacks into breakthroughs.
7. Be Visible
Many entrepreneurs assume that luck will find them, but visibility plays a significant role in creating luck. Make sure your work is known to the right people. This can involve content marketing, public speaking, or showcasing your achievements on social media. Visibility increases your chances of attracting clients, investors, or collaborators.
On that same note, developing a personal brand makes you stand out in your industry. When people associate you with a particular area of expertise or a specific type of solution, they’re more likely to reach out when they need help. A strong personal brand can result in referrals, partnerships, and other opportunities.
8. Identify and Leverage Trends
Entrepreneurs who are ahead of trends are often the ones seen as “lucky” because they’re in the right place at the right time. You can cultivate this kind of luck by reading industry reports, analyzing consumer behavior, and paying attention to shifts in the market. Those who stay current can adapt faster and identify opportunities before they become obvious.
It’s also important to recognize that every industry has gaps—areas where consumers or businesses have unmet needs. Being able to identify these gaps early and offer a solution can create immense opportunities.
9. Develop Resilience
Resilience is crucial for entrepreneurs. Many overnight successes are actually the result of years of hard work, iteration, and persistence. By thinking long-term, you recognize that success may not come instantly, but each effort brings you closer to where you want to be. And when you stay committed, luck often comes you. Many entrepreneurs quit just before they would have had their breakthrough. By staying committed to your vision, even during difficult times, you increase the chances that the right opportunity will present itself.
10. Create Value Consistently
Entrepreneurs who consistently create value for others by solving real problems attract opportunities. The more problems you solve, the more people you help, and the more likely it is that these people will refer you to new clients, recommend you for partnerships, or invest in your ventures. Luck is often a byproduct of consistent value creation.
All in all, creating your own luck as an entrepreneur is less about waiting for chance and more about taking proactive steps to increase your exposure to opportunities. By preparing yourself, building networks, staying adaptable, and maintaining the right mindset, you position yourself for success. Luck often follows those who are consistently in motion—taking action, solving problems, and staying open to new possibilities.