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Is that a problem, though? A major component of success is in fact luck. Doing the right thing at just the right time, with enough prior planning and skill to b
by bityard 6y ago
Is that a problem, though? A major component of success is in fact luck. Doing the right thing at just the right time, with enough prior planning and skill to be able to follow through if it takes off. If making a bunch of money somehow with few hurdles was reliably repeatable, everyone would start doing it. Until the market is saturated and then it stops being repeatable.
First mover advantage ties into this here, as does discussions on the free market, and other interesting economic theory.
- bmh100 6y agoI have to disagree that a major component of success in business is luck, generally speaking. A successful business relies on having repeatable processes that generate profit. If one wants to talk about becoming a billionaire or growing a social media company to the level of IPO, then I concede that an above-average degree of luck is involved.
- ZephyrBlu 6y agoAlternatively, it seems like many successes are built off the back of virality. > A successful business relies on having repeatable processes that generate profit It can take luck to get the business off the ground though.
- bmh100 6y agoSome do, yes. I think this is especially true for independent content creators, as one example.