Hello there and welcome to this week's edition of 10x your mind. If you're new here, thank you for joining, and welcome aboard! 🙌 For the past 96 weeks, I have been writing this newsletter every Thursday and will continue to do so. Hope you enjoy reading them as much as I enjoy writing them. This week, I want to share with you a learning that changed my perspective on luck. Happy reading. 🍀
I grew up thinking we were either lucky or not. There's nothing we can do about it. Then I read about four types of luck by Naval Ravikant. It changed the way how I thought about luck. It's quite empowering actually and helps us be more in control of our lives.
Here are four types of luck, starting from the dumbest to the smartest one.
Blind luck
This is the "I won a lottery!" 🤑 type of luck. It's 💯 chance. It's random. We have zero control over it.
If you were born into wealth or were born a genius, you are blessed with blind luck. You didn't make that happen and you can't make it happen in the future.
Think crushing Wordle in the first row 🟩 🟩 🟩 🟩 🟩 or finding a $100 note on the sidewalk. 💸
Blind luck is the least common. Although it feels amazing when this luck finds us, we can't rely on it. We can't waste our days praying for it to shine upon us. That would be pretty dumb. No wonder it's called dumb luck.
So let's move on to the types of luck we can control..
Motion luck
Think persistence. Think about working hard consistently. This is action. ⚡️⚡️
You produce so much action that good things start to happen. If you're a writer, you write so much that publishers request you to write a book. If you're a salesperson, you make 100 calls daily and start closing deal after deal.
There is no bypassing hard work. That said, it's important to work smart.
What does work smart mean? Two things:
Work on things that interest you, and that truly matter to you. Otherwise, you run the risk of slogging yourself to burnout.
Work on the 20% of the things that give you 80% of the results. (80/20 rule)
The power of motion luck lies in how quickly we can learn from our mistakes and improve.
The faster we move → faster we make mistakes → faster we learn → faster we improve.
Spotting luck
This luck comes from expertise. Your experience, knowledge, and skills help you develop a unique point of view.
You become so skilled in your area of expertise that you can spot an opportunity that others can't. Your mind notices tiny details that others fail to see.
Where others see a problem, you'll see the opportunity.
In our design-thinking world, we rely heavily on user research to find problems that users face so that we can build products that solve those problems. Anyone can talk to users and gather data. The real magic lies not in finding the problem but in turning it into an insight, more like an Aha! moment.
Spotting luck is finding a needle in a haystack. You have an unfair advantage —Your mind can zoom 10x to spot that needle.
Attracting luck
This is the highest order of luck. You create so many waves that luck finds you.
This happens when you gain mastery in one thing. You become a strong personal brand.
If you are the best in the world at what you do, anyone who needs help in your area of expertise will come to you.
Think getting invited to give a TED talk. Or asked to run for president!
Extreme examples apart, authenticity is the key to attracting luck. You can be the best in the world at being you. There won't be any competition there.
To be attracting luck, be authentically you. ❤️
Prachi I'm reading the Almanack right now and my goodness.. Naval is a genius. These types of luck seem to be connected to an idea he loves talking about, which is compound returns. He doesn't just say that we can see compound returns in investments, but in people and in our own expertise. The more we develop a relationship with someone, the higher the compound "interest" we get from the relationship. This blew my mind the other day. Kind of makes sense for these four stages of luck. The more expertise you have, the better you are at spotting little details in your line of work, for example. Thanks for this article.