Luck ... what do you make of it?

In their excellent business book, Great By Choice, authors Jim Collins and Morten T. Hansen make some very interesting points about luck in business.  They summarize it by suggesting four possible outcomes from luck and they are:

• Great return on good luck
• Poor return on good luck
• Great return on bad luck
• Poor return on bad luck

In business, we are going to have some timely breaks and some untimely bad twists in fate.  This is a given but what we make of these can to some degree be controlled.  In the book, they give several examples of businesses that have capitalized on both good and bad luck.  They also outline some missed opportunities.

The same carries over to all aspects of life.  It would be great if we could figure out ways to make the best of whatever comes our way.