Using your assets to get lucky

Preparation: The First Step Towards Serendipity

We live in an unpredictable world. You can’t guarantee the success of your business because there are too many factors outside of our control. However, you can increase the chances of randomness acting in your favor (i.e., “getting lucky”).

We can amplify the likelihood of these unexpected “coincidences” that take us where we want to be.

There are many ways to increase your “Luck Surface Area.” One of the key methods is active preparation. As Pasteur once said, “Luck favors the prepared.” This is why you need to ensure you are prepared for when Lady Fortuna reaches out.

Your Personal Assets Inventory

In his Small Bets course, Daniel Vassallo suggests that the first step in this preparation journey is to inventory your assets.

If you’re looking to start a business, this involves asking, “What resources do I possess that can be monetized? What can I productize?”

For those trying to advance in their professional careers, this means taking note of all the skills, experiences, and credentials that could set you apart.

How Do Your Assets Amplify Your Luck?

  • Credibility Boost: According to Louie Bacaj, leveraging your assets can help you build credibility. Your professional background might resonate with someone on a similar path. These assets can expedite trust-building with others.

  • Connecting the Dots: Creating a comprehensive overview can aid in recognizing patterns and revealing a broader perspective.

    In your personal life or career, the different pieces you’ve assembled—your skills, knowledge, and experience—might not intuitively align at first, but over time they start to form a cohesive picture. Once you recognize this, possibly based on a passion that bridges diverse experiences, you can seek the missing elements.
    —The Serendipity Mindset, Christian Busch

  • Mindset Shift: Focusing on assets causes a shift from dwelling on what you lack to leveraging what you possess.

Christian Busch highlights this through Yusuf Ssessanga’s initiative with Reconstructed Living Labs (RLabs). In communities with resource constraints and many environmental limitations:

The team at RLabs challenged perceived resource limits and instead highlighted previously unrecognized or undervalued resources. They harnessed the resourcefulness of former drug dealers, bringing them on board to reshape opportunities. Not just things that might happen to locals but opportunities they could actively co-create. Through numerous meetings and training sessions, both online and offline, this approach spread. Consequently, Yusuf and his team began examining unused local assets and partners, figuring out how they might be utilized—for instance, transforming abandoned garages into training centers.

Examples of Assets

  • Skills & Knowledge: Your gained abilities and insights.
  • Experience: Including professional and personal experiences, such as challenges overcome and milestones achieved.
  • Educational Assets: This includes credentials, certifications, and formal qualifications.
  • Networking: Your personal and professional connections.
  • Audience: Your followers or subscribers.
  • Community Access: The communities you’re affiliated with or can engage in.
  • Reputation: Your personal brand and what you’re known for in your circles.
  • Personal Traits: Your personality strengths.
  • Tangible Assets: Physical assets, like real estate.
  • Digital Assets: Content such as articles, social media posts, courses, and books.
  • Location: Your geographical location, which can be an asset.
  • Time: How much time you have available.
  • Financials: This can cover savings, access to capital, and loans.

List Your Assets to Get Lucky

Preparation is about strategically setting the stage for serendipity. Lady Fortuna favors the resourceful. Focus on optimizing your existing assets rather than complaining about what you lack.

Now go list your resources and start thinking about how to use them in your favor.

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