Yahoo Finance Billionaires Depend on Luck and Timing, but You Can Still Use These 4 Tips To Get Rich
Billionaires acknowledge that timing and luck play a major role in getting rich. However, many believe that creating your own luck is what separates the highly successful from everyone else.
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A recent CNBC article made the case that people seeking fortune must proactively make choices that allow them to take advantage of luck and timing. Drawing analogies between “The Luck Factor,” a study on the nature of luck by University of Hertfordshire psychology professor Richard Wiseman, and the success of billionaire Mark Cuban, CNBC identified and explained the principles Wiseman said can help you get rich.
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Listen to Your Intuition
Wiseman wrote in “The Luck Factor,” an article published in the Skeptical Inquirer based on his book of the same title, that one way people make lucky decisions is by listening to their intuition. Indeed, Mark Cuban credits his intuition for guiding several of his biggest business decisions that ultimately paid off, including selling his company Broadcast.com to Yahoo right before the dot-com bubble burst. In an interview with Real Vision, CNBC reported, Cuban said he’d watched PC companies soar and then fail, and he knew it would happen again.
Adopt a Resilient Attitude
Wiseman identified resilience as a core principle for generating good fortune. Bouncing back from failures helps you turn bad luck into good and puts you on the path towards eventual success.
Have Positive Expectations
Positive expectations create self-fulfilling prophesies, Wiseman wrote in the Skeptical Inquirer article. In a 2019 interview with Inc., Cuban emphasized the importance of attitude. “I was happy and felt like I was successful when I was poor, living with six guys in a three-bedroom apartment, sleeping on the floor,” he said.
Find Chance Opportunities
Wiseman found that lucky people “are skilled at creating and noticing chance opportunities.” CNBC offered as an example the deal that made Cuban a millionaire. “He started his software company MicroSolutions in 1982, just ahead of the digital revolution, and sold it to CompuServe for $6 million in 1990.” When the right opening appears at the right time, you must be bold and decisively seize the moment.
While dependance on luck and perfect timing makes becoming a billionaire unlikely, implementing some of these suggestions can help you identify and take advantage of good fortune when it comes your way.
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This article originally appeared on GOBankingRates.com: Billionaires Depend on Luck and Timing, but You Can Still Use These 4 Tips To Get Rich
