Thread by @themarvlee

There are 5 types of luck

- Random luck
- Associative luck
- Performative luck
- Informative luck
- & Monopolistic luck

Here's How to Get Rich (by getting lucky):

1. Random luck happens by sheer fate. You have little to no contribution in manifesting it.

E.g

Your family
Your beauty
Winning the lotto etc

2. Associative luck happens through connections. Like when someone person in your network recommends you for a project or contract.

As the popular saying goes - it's not what you know, it's who you know.

3. Performative luck happens through skill, expertise, and positioning. When you attain a certain level of success, you will effortlessly attract better opportunities within and outside your field.

4. Informative luck comes from years of experience. Warren Buffet can spot a good investment with both eyes closed because he has a mental blueprint of what to look out for. This specialized knowledge makes him sensitive to opportunities before the public is even aware of them.

5. Monopolistic luck happens when you are the only one in the world who can do what you do. Your expertise can't be bought elsewhere. Something about you is unique - whether it's the problem you solve, your approach, or even your personality.

Only dummies rely on dumb luck.

Smart people manufacture their own luck through skill acquisition, networking, grit, and persistence.

To improve your associative luck, work on your social skills.

Go to places where your tribe hangs out.

Work in coffee shops or hotel lobbies.

No one gets to the top alone.

Even if you are introverted, make a conscious effort to foster meaningful relationships.

Book recommendations

- The Like Switch by Jack Schafer
- Social Intelligence by Daniel Goleman
- The Art of Mingling by Jeanne Martinet
- The Charisma Myth by Olivia Fox Cabane
- How to Win Friends and Influence People by Dale Carnegie

To improve your performative luck, invest heavily in knowledge.

Attend seminars and webinars.

Find personal coaches and mentors.

Buy books and courses.

Build a wide array of skills.

Aim to become the best at what you do by learning everything there is to know.

Book recommendations

- Mastery by Robert Greene
- The Lean Startup by Eric Ries
- Ultralearning by Scott H. Young
- Make It Stick by Peter C. Brown
- The Talent Code by Daniel Coyle

To improve your informative luck, stay updated on trends.

Become a lifelong learner.

Join multiple virtual and physical communities.

Attend conferences and workshops in your field of expertise.

Create multiple pipelines that supply steady data and news.

Book recommendations:

- Outliers by Malcolm Gladwell
- Thinking, Fast and Slow by Daniel Kahneman
- Warren Buffett's Ground Rules by Jeremy C. Miller

In the digital world

The surest way to attract monopolistic luck is to build a personal brand.

A personal brand is the ultimate asset and leverage.

You get to showcase your expertise while building a portfolio that attracts opportunities that would otherwise elude you.

Book recommendations

- Crushing It by Gary Vaynerchuk
- Platform by Michael Hyatt
- Expert Secrets by Russell Brunson
- Influencer by Brittany Hennessy
- Building a StoryBrand by Donald Miller