Lucky or Smart?

Luck is a part of life, and everyone, at one point or another, gets lucky. But luck is a big part of business life and perhaps that biggest part of entrepreneurial life. At the very least, entrepreneurs must believe in luck. Ideally, they can recognize it when they see it. And over time, the best entrepreneurs can actually learn to create luck.

As Bo Peabody, entrepreneur extraordinaire, explains: "My formula for getting lucky in business is reasonably simple: Start a company that fundamentally innovative, morally compelling, and philosophically positive. Create and aura of authenticity around your start-up by carefully crafting your mission and communicating it with charisma and passion. "Our company will quickly attract smart, inspired people who will work very hard. Treat all these people fairly. Provide them with a clear action plan and give them the latitude to exercise their creativity.

The result: serendipity, luck, success, and, ultimately, money. And the only smart thing about this formula is that I understand that on a day-to-day basis my brain has very little to do with any of it."