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unify and organize its efforts, giving clear guidance regarding what to do and what not to do.
reflects empirical validation and insight about what actu...
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Amendments to a SMaC recipe can be made to one element or ingredient while leaving the rest of the recipe intact.
develop specific, concrete practices that can endure for decades—SMaC practices.
Malcolm Daly had prepared well in advance.
Daly learned from his preparation that wallowing in your misfortune increases risk.
luck didn’t save Daly in the end. People did.
beginning with a clear definition of a luck event.
(1) some significant aspect of the event occurs largely or
entirely independent of the actions of the key actors in the enterprise,
(2) the event has a potentially significant consequen...
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(3) the event has some element of unp...
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the evidence does not support the hypothesis that the 10X cases won because of one gigantic piece of luck that dwarfed everything else.
The 10X cases did not systematically have more good luck early, and the comparisons did not have more bad luck early.
we were very careful to distinguish between luck and outcomes.
The real difference between the 10X and comparison cases wasn’t luck per se but what they did with the luck they got.
The critical question is not “Are you lucky?” but “Do you get a high return on luck?”
Of all the luck we can get, people luck—the luck of finding the right mentor, partner, teammate, leader, friend—is one of the most important.
Thousands of people could have done the exact same thing as Gates, at the exact same time, but they didn’t.
Gates did more with his luck, taking a confluence of lucky circumstances and creating a huge return on his luck. And this is the important difference.
10X ability to get a high return on luck at pivotal moments that distinguishes them and this has a huge multiplicative effect.
They zoom out to recognize when a luck event has happened and to consider whether they should let it disrupt their plans.
Everyone gets luck, good and bad, but 10X winners make more of the luck they get.
On the one hand, we cannot deny the fact of luck or deny that some people start from a more fortunate place in life. On the other hand, luck by itself does not explain why some people build great companies and others don’t.
we’ve never found a single instance of sustained performance due simply to pure luck.
Getting a high return on luck requires throwing yourself at the luck event with ferocious intensity, disrupting your life, and not letting up.
They didn’t fail for lack of good luck; they failed for lack of superb execution.
Lewis called his staff together, told everyone, “Our customers actually hate us,” and challenged his team to create a better company.
10Xers use difficulty as a catalyst to deepen purpose, recommit to values, increase discipline,
respond with creativity, and heighten productive paranoia.
Resilience, not luck, is the signature...
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“Goals live on the other side of obstacles and challenges,” said Bourque. “Along the way, make no excuses and place no blame.”
The whole point is to become exceptional.
The question is how to use that bad luck to make us stronger, to turn it into “one of the best things that ever happened,”
There’s only one truly definitive form of luck, and that’s the luck that ends the game.
if Southwest had been knocked out of business with a plane crash in its first week of operation, it likely would have lost forever the chance to become a great company.
“What does not kill me…”
a single stroke of extremely bad luck that slams you on the Death Line, or an extended sequence of bad-luck events that creates a catastrophic outcome, can terminate the quest.
if the ratio of heads to tails tends to even out over time, we need to be skilled, strong, prepared, and resilient to endure the bad luck long enough to eventually get good luck.
Luck favors the persistent, but you can persist only if you survive.
The essence of “managing luck” involves four things: (1) cultivating
the ability to zoom out to recognize luck when it happens,
(2) developing the wisdom to see when, and when not, to let luck...
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(3) being sufficiently well-prepared to endure an inevitable sp...
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(4) creating a positive return on luck—both good luck and...
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we could reframe the entire study around luck and how to get a great ROL.
All the concepts in this book contribute to getting a high ROL.
we cannot cause, control, or predict luck. But by behaving and leading in 10X ways, they make the most of the luck they get.
it’s far better to be great than lucky.
There might be more good luck down the road, but 10Xers never count on it.
