Do we really make our own luck? It seems we might, and it has everything to do with increasing our relative skill level. In the business world, Michael Mauboussin argues that successes and failures are the result of skill and luck. We can only work on our skill, but it might be doubly motivating to learn that by doing that we also increase our luck. Of course, it is important, when looking back on past successes, to separate out when your skill really made the difference lest you confuse luck with skill and become overconfident. Mauboussin, author of The Success Equation: Untangling Skill and Luck in Business , discusses the "paradox of luck" in this Knowledge@Wharton interview:
Filed under: global business, leadership, knowledge at wharton, Michael Mauboussin, strategic management, knowledge@wharton, overconfidence, the paradox of luck, The Success Equation, luck, skill