Luck & Risk in Business: Insights from The Psychology of Money
Luck & Risk in Business: Insights from The Psychology of Money In business, luck and risk are ever-present forces that influence the outcomes of our decisions. While many entrepreneurs focus on strategy, product development, or market trends, the role of chance and risk often gets overlooked. Understanding how these elements impact success and failure can shape a more resilient and thoughtful approach to business. The Role of Luck in Business Luck is often seen as a random factor—something that we either get or don’t. However, The Psychology of Money offers a deeper perspective on luck, emphasizing that it’s not just about being in the right place at the right time. Instead, luck is an inevitable part of life, including business. Some people seem to be in the right place at the right time, but it’s not simply about chance; it’s about how they interpret and leverage the opportunities that come their way. In the business world, this could mean timing your product launch ...