How To Create Luck – The Simple Strategy Billionaires Use

Summary

• Successful people understand probability, which is fundamental in investing and assessing the return on investment in business.
• Volume negates luck. Consistently high output can reduce the impact of chance and even compensate for a lack of skill initially.
• When beginning something new, it's normal to be unskilled. Social media can create unrealistic expectations of becoming a millionaire instantly, thus hindering progress.
• Persistence in volume can lead to an improvement in skill over time. For example, it might take a thousand cold calls to secure a deal, and with enough practice, one's performance will naturally improve.
• It's the small, incremental skills learned along the journey that pave the way to success, not just the final act of closing a sale.
• Quitting should be a last resort, only if the entire industry has dissipated, which is unlikely. Skill acquisition through volume is crucial for success.
• Greater skill brings with it "luck," as expertise increases the chances of positive outcomes.
• Early success can distort expectations; it's important to understand that a significant amount of effort and rejection may still be required.
• Understanding the Law of Large Numbers can help in realizing that increasing volume will eventually lead to success. This principle applies both to new projects and to long-term pursuits.
• Even if you don't reach millionaire status by a certain age, the experience and skills developed are valuable and can lead to future financial success.
• Constant effort and building skill brick by brick are essential to creating a pathway to your goals. Consistent volume and dedication are key.

Video

How To Take Action

I would suggest implementing the understanding of probability and volume to improve your chances of success. Remember, volume negates luck. You want to put out a high volume of work to even out the odds and cover your bases. Here's what you need to do:

1. Start by recognizing that being unskilled at something new is normal. Don't get stuck because you're not great right away.
2. Aim for high volume output in whatever you're doing. If it's cold calling, sales, or sending emails, more attempts mean more chances for success.
3. Keep persisting because volume will help you improve your skill. It's a numbers game – the more you do, the better you get.
4. Focus on the incremental skills you're learning, not just the end goal. Every little step is building towards success.
5. Don't quit too easily. Only consider quitting if the entire industry vanishes, which is very unlikely.

Let's use cold calling as an example:

• Set a target: Decide on the number of calls you will make each day or week. Aim high.
• Practice consistently: Every call improves your skill, even if it doesn't lead to a sale.
• Keep track: Monitor your progress, note what works and what doesn't, and adjust.
• Learn from each interaction: Each call teaches you something new. Use this to fine-tune your approach.
• Play the long game: Success rarely comes overnight. Commit to a longer period, like six months to a year, to practice and improve.

This is how you grow and increase your "luck." By doing more, you'll pick up skills that elevate your chance for positive outcomes. Stick with it, and be patient with your growth. Success is a series of small bricks laid over time. Keep laying them, and trust the process.

Quotes

"Volume negates luck"

– Alex Hormozi

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"If you want to become lucky, if you want to have probability on your side, you simply increase n, increase the number, increase the volume"

– Alex Hormozi

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"The only thing that separates you from what you want is skill and the only way to acquire that skill is volume"

– Alex Hormozi

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"The more volume you do, the better you get, and therefore the luckier you become"

– Alex Hormozi

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"Keep laying the bricks, keep laying the bricks, all the way across the bridge from where you are to where you want to be"

– Alex Hormozi