How much does "LUCK" play into your start-up success?

Question

What do you think is the right proportion of luck that plays into your start-up success? 🤔

Some say that products that went to change the world were born at the right time and the right moment. There's even a TED talk about a study that researched this and concluded as "luck/timing". That might be why same product ideas that failed a few years ago, might be successful today.

What's your take? 🤓

Accepted Answer

Hi, let me explain how luck works (in terms of start-up product launches).
Luck will only have any impact when you have a good product that meets your prospects' expectations, at least to the minimum.

Now let's say you launched a working product that meets the minimum requirements.

Here's where luck comes in.
-If there is a sudden natural disaster that restricts people from buying, you will be at loss even with a good product launch plan.
-Or, let's say a popular company i.e. a company that's more popular than you releases a similar product. Then you already lost the majority of your prospects.
-Again, you might all of a sudden get a single buyer, who will refer tons of others about your product, and your business might boom right away.

So I would say that luck has a role but in a small amount.

Wayne Smallman · Answer

Luck is a significant influence ( https://blogs.scientificamerican.com/beautiful-minds/the-role-of-luck-in-life-success-is-far-greater-than-we-realize/ ).

David T. Kim · Answer

@imthath_m Agreed. Great answer!

David T. Kim · Answer

@rad_val_ Also agree that definition of success is different for everyone.

Reema Maarouf · Answer

I personally do not consider myself successful if it was brought to me through luck. Therefore, it's all effort.

Mohammed Imthathullah · Answer

Luck does play a role but you can't quantify it, because it is just random. But you have you have plan and work on improving the product before and after luck plays its role. Otherwise you will be shutting down soon.

Valentin Radu · Answer

You need skill to buy a BMW, you need luck to become a millionaire. So I guess it depends on your definition of success.

angus0305 · Answer

I don't think that luck can be objectively evaluated or do any serious research on this topic. Luck is unpredictable. For some, this is just a combination of circumstances. For some, this is something cosmic. I don't think that it is possible to describe it rationally. Some of my friends really found good luck after purchasing Thai amulets like here https://thaiamulets888.com/lp-toh-wat-pradoochimplee/, although some people were born lucky from childhood. I think we should all be grateful that we were lucky to be born as people, not cockroaches. And for the fact that we live in the 21st century and not the 12th.

How much does "LUCK" play into your start-up success?

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