Business Book Summaries

The Luck Factor Summary

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The Luck Factor Summary

The Luck Factor, by Dr. Richard Wiseman, takes a psychological approach to the seemingly unscientific phenomenon of luck, and concludes that although luck may seem inexplicable, it is actually a result of behaviors that any individual can learn and practice. Wiseman claims that lucky people typically exhibit four key behaviors that separate them from their less lucky peers. These four principles can be further expanded and explained, resulting in twelve sub-principles which Wiseman believes psychologically differentiate lucky people from the crowd. By adopting these beliefs and behaviors as your own, Wiseman claims that you can drastically improve your luck and your life.

In the first section of The Luck Factor, entitled “Initial Research”, Wiseman divides his focus into two chapters.

1. “The Power of Luck” firstly examines the influence that luck has over the happiness of an individual and even the success of a society (as Wiseman reminds us, many of the advancements of modern science and technology resulted from chance and/or accidental discoveries, e.g. penicillin, Velcro, safety glass, etc). Secondly, this chapter informs us that Wiseman’s research reveals that 64% of the population self-identifies as either consistently lucky or consistently unlucky, and that the lucky individuals tend to find that their good fortune extends to several areas of their lives rather than being confined to just one.

2. “Lucky and Unlucky Lives” analyzes the information garnered from the studies conducted in “The Power of Luck”, and focuses on the extremely lucky and extremely unlucky individuals in order to determine what dictates their circumstances. It is through this research that Wiseman detected the four key differences and twelve sub-principles that predict and define lucky people.

Lucky people create chance opportunities.

  • Lucky people are friendly, creating and maintaining a network of luck which consists of a large web of friends and acquaintances that have their best interests at heart.
  • Lucky people have a relaxed attitude towards life, which enables them to see unexpected opportunities more easily (since they aren’t doggedly pursuing a single avenue that blinds them to all alternatives).
  • Lucky people are open-minded and willing to try new things, which allow them to happily take advantage of experiences that an unlucky person might pass up.

Lucky people trust their instincts, and thereby “think lucky”.

  • Lucky people pay attention to their hunches, and do not underrate the power of their “gut feelings”.
  • Lucky people take steps to heighten, respect, and enhance the power of their intuition, such as practicing meditation and reflection.

Lucky people feel lucky.

  • Lucky people have faith that their luck will carry through into the future, possessing a sense that everything will work out for the best.
  • Lucky people attempt to achieve their goals regardless of the apparent probability of success.
  • Lucky people look on their interactions with other as potential wellsprings of luck and happiness, anticipating that others are ready and willing to help them succeed.

Lucky people deny fate.

  • Lucky people can see the silver lining in dark clouds, and focus on the positive aspects of bad situations.
  • Lucky people are convinced that bad things happen for a reason, and that eventually they will see the happy results of whatever circumstances might seem negative at first glance.
  • Lucky people refuse to get stuck in a rut, and do not allow themselves to brood over things that make them unhappy.
  • Lucky people take active measures to prevent bad luck from recurring, in order to improve their luck for the future.

This enlightening and interesting book provides exercises and analogies in order to help you maximize your own potential as a lucky individual. By helping you to understand the psychological mechanisms that underlie good fortune, The Luck Factor summary promises to give you the incentive to modify your behavior and mindset in order to craft a luckier and happier life for yourself.

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