Time to Startup!

The BizFilings blog covering business tips and trends.

Oil! Black Gold! Texas Tea!

Published on Feb 20, 2013


Read 'Oil! Black Gold! Texas Tea!' at 'Time to Start Up,' the small business blog by BizFilings.
By Matthew Toren They don’t know what to do. They hadn’t expected this. Who would have thought their song would become so popular? The drummer wrote it in 20 minutes on a bus ride to his aunt’s house. Suddenly the band has found success on YouTube. Suddenly they’re listening to themselves on the radio. They’re being offered contracts, deals, getting offers to play stadiums. The problem? They have no idea what they’re doing. They’re really not that good of musicians or songwriters. They don’t have a set list. They’re simply not ready. You don’t have to be a musician or even an artist to get the point. Lighting strikes for entrepreneurs as well, and you should always be prepared.

Is Luck Real?

Go to Las Vegas and find out. Whether you believe you manifest your own reality, or you believe that mathematics defines existence, some people do hit blackjack several times in a row. But the question shouldn’t be about the reality of luck. Leave that to the philosophers. The question should be: If you do get lucky, how successful are you in capitalizing that luck? In fact, most of us are lucky in the fact that we’re born in a first-world country that encourages entrepreneurship. Define yourself as lucky whether you are or not. Make your own opportunities, but if something presents itself, be ready to strike!

Ignore Bad Luck

If you look around and notice other people having great luck, don’t become depressed at your own situation. Negative thinking like this is poison for successful entrepreneurs. What you view as “bad luck” is simply your defeatism. You really can influence your environment with your attitude. Psychologists have demonstrated that people who consider themselves lucky are more extroverted and relaxed. They’re in a state of mind that is conducive to act upon chance opportunities.

Open Your Eyes

Ignore the bad and focus on the good. In fact, reframe neutral events as hidden opportunities and you’ll become more active and dynamic. When a truly pivotal moment does reveal itself, you’ll be able to recognize it and take the appropriate action. But never sit around waiting for opportunity. Think of a defensive football player. He doesn’t stand around waiting for someone to fumble the ball so he can pick it up and run it in for a touchdown. He observes. He jets back and forth. He distracts. If someone on the opposing team does drop the ball, he immediately sees his luck, and throws his body upon it.

Study and Prepare

Luck and opportunity become more accessible when you’re confident. How can you become more confident? Simple. Study and prepare. Increase your knowledge and aptitude to an extent that you’re eager to demonstrate your expertise. The self-assured football player that is the first to the fumbled ball? He has practiced drill after drill to prepare his body and train his muscle memory. He has studied playbooks and watched endless hours of film to dissect the opposition and improve his own performance. When you’re optimally prepared, you will start to notice luck and opportunity in places you never did before. You’ll even start to create your own. ----------------------------------------------------------------------------------------- Matthew Toren is an Award Winning Author, Serial Entrepreneur, and Investor. He Co-Founded YoungEntrepreneur.com along with his brother Adam. Matthew is co-author of the newly released book: Small Business, Big Vision: “Lessons on How to Dominate Your Market from Self-Made Entrepreneurs Who Did it Right” and also co-author of Kidpreneurs.