How To Get Rich Without Getting Lucky (Part 1: Types Of Luck)

There is no doubt that there are a lot of lucks involved in getting rich. So, how do you get rich without getting lucky? First, we need to understand different types of luck.

This article is based on the tweetstorm written by the famous entrepreneur and Tech investor, Naval Ravikant. He co-founded AngelList and is an early investor in some Tech unicorns like Uber, Twitter, Wish.com, Postmate,… You can listen to the audio podcast version here.

1. Blind luck

This is just pure luck, where something completely out of your control happened. Eg: Winning the lottery. This kind of luck is rare and you should not count on it because it is completely out of your control.

2. Luck from hustling

This luck comes from persistence, hard work, hustle, motion. If you work hard and create a lot of opportunities, lucks might found you one day. Eg: Consistently create content on the internet and one of them go viral.

3. Luck from preparation

This is when you are good at spotting luck. You become sensitive to luck and that’s through skill and knowledge and work. Eg: When the stock market crash, you buy a great stock at the bottom and sell it when the market recovers.

3. Luck from your unique character

This is when luck finds you because of your ability. Eg: Awesome deals came to Warren Buffett in the financial crisis because of his reputation and ability.

The last type of luck is ideal and should be what you strive for. You created your own luck. You put yourself in a position to be able to capitalise on that luck. Or to attract that luck when nobody else has created that opportunity for themselves. When we talk about “without getting lucky,” we want to be deterministic, we don’t want to leave it to chance (Naval).

Now that you understand the types of luck and which one to aim for. In part 2, we will go more into the specifics of how to make luck your destiny.

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