Hard Work or Luck? or Both?

Last week Jim Collins and Morten Hansen reported on their recent research on luck for the New York Times in What's Luck Got to Do With It?   Their analysis of "return on luck" and what differentiates those who take advantage of luck--good or bad--is worth pondering.  They wrote

"When we examined less successful companies, we saw a generally poor overall return on luck. Some of the comparison cases had extraordinary sequences of good luck yet showed a spectacular ability to fritter that luck away. When the time came to execute on their good fortune, they stumbled. They didn’t fail for lack of good luck. They failed for lack of superb execution."


Can you think of any lawyers who struggle to develop a private practice, despite having a great education, good community or family networks, and the ability to be a good lawyer?  I can think of a few who have a spectacular ability to fritter luck away.  


On the other hand, what about those who face extraordinary bad luck and yet make superbly good lemonade?  


"They use difficulty as a catalyst to deepen purpose, recommit to values, increase discipline, respond with creativity and heighten productive paranoia — translating fear into extensive preparation and calm, clearheaded action. Resilience, not luck, is the signature of greatness."


It still comes down to preparation and action.  More of my thoughts about luck were in an earlier post,  Luck.  At the time I ran a survey in the sidebar to see whether my readers agreed.  Just for fun let's see what kind of responses I get to this one.