On a plane ride back from New York this weekend, I read a short book by Joshua Piven called, "As Luck Would Have It: Incredible Stories from Lottery Wins to Lightning Strikes". Piven wrote the fabulously success series called "Worst Case Scenario" which I also enjoyed.
In my speeches and writing, I talk alot about the importance of luck and timing on ultimate financial success. While this book is not just about business, it was a good airplane read (although some of the stories were about people surviving airplane crashes so I do not recommend reading it while in flight). I especially enjoy the story about Tommy Tutone and their one hit wonder: 867-5309
A few interesting things that Piven writes about:
2 of every 3 lottery winners lose or spend all their money within 5 years.
While some people have good and bad luck, ability and effort produce more good outcomes in the long run than bad ones.
People that use their emotions in assessing risk are more likely to find success in subsequent tasks.
The mind must be open to receiving a germ of a new idea.
Defensive Pessimism is good! It turns negative thinking and anxiety into action!
The level of relationship commitment is a measure of how successful a particular business connection will be.
And finally, you have more of a chance to get struck by lightning (1 in 280,000) than win the lottery (1 in 70,000,000)….
and I still play the lottery
