Naval knows you need to create your own luck, attract your own opportunities: and he knows the system to create the luck to do that.
According to neurologist and Zen Buddhist, Dr. James H Austin there are 4 types of luck. He wrote about them in his book Chase, Chance, and Creativity: The Lucky Art of Novelty
Chance 1: Blind Luck
“Chance I is completely impersonal; you can’t influence it.” - Dr. James H. Austin
This is the most basic form of luck. It’s winning the lottery, or randomly bumping into an old colleague in the street which leads to work. We have zero control over it.
It’s not a repeatable system and therefore not a strategy.
Chance 2: Motion Luck
“Chance II favours those who have a persistent curiosity about many things coupled with an energetic willingness to experiment and explore.” - Dr. James H. Austin
This type of luck comes from constant motion. The more content you publish and promote the greater your chance of success.
You’ve probably heard the harder you work the luckier you get phrase before
This is the creator flywheel:
Produce content + Publish content + Promote content = fans
Rinse and repeat until you have a big enough fanbase to sustain you and your work.
It’s slow but it works. As long as you don’t quit.
Chance 3: Receptivity
“Chance III favours those who have a sufficient background of sound knowledge plus special abilities in observing, remembering, recalling, and quickly forming significant new associations.” - Dr. James H. Austin
This is about experience and expertise in a market to such an extent that you can spot opportunities as they are unfolding. It’s the talent scout that can spot raw talent with the strength of character required to succeed.
It’s the creators who spot the trends before they become over-saturated.
This takes years and many up and downs to gain the insight in order to spot opportunities other can’t see, and the courage to go all-in and maximise them.
Chance 4: Personal Behaviour Luck
“Chance IV favours those with distinctive, if not eccentric hobbies, personal lifestyles, and brands.” - Dr. James H. Austin
This is key to winning at almost anything. You create your own luck with your personal brand.
You niche down and become the go to expert in your niche.
How do you do this? By becoming a thought leader in your field. That means creating long form content. Content with big ideas.
“Then the last kind of luck is the weirdest, hardest kind. But that’s what we want to talk about. Which is where you build a unique character, a unique brand, a unique mindset, where then luck finds you.” — Naval Ravikant
Thought leaders write newsletters and best selling books. They host popular podcasts and YouTube channels.
They know that big ideas inspire big change.
Charisma on command is a YouTube channel dedicated to helping introverts be more confident in social situations.
That’s pretty niche, right? Well, they have 4.75 million subscribers and 453 million lifetime views.
That’s pretty big, right?
Lucy Sheridan is described as “one of the UK’s most successful coaches” by The Times, London.
She has been featured in Elle, Grazia, Cosmopolitan, The Daily Mail, Stylist and countless other publications and high-profile podcasts.
Lucy only does one thing. She is the world’s leading comparison coach. She helps clients from pop stars to pub owners stop comparing themselves with others.
She is a thought leader on the subject. She has written best-selling books about it.
When the media write articles about comparison they get quotes from Lucy, which further promotes her expert status.
When you google comparison coach, Lucy ranks in the top 9 out of the top 10 hits.
Creating your own luck
Opportunities come to those who are experts in their niche.
This is the best kind of luck. Become an expert in solving specific problems with a unique point of view, and people will seek you out.
On Joe Rogan’s podcast, Naval explained further. Let’s say with blind luck you found buried treasure so deep at the bottom of the sea that nobody can get it. You’re going to seek out the world’s best deep-sea diver who can plumb depths no one else can, and offer them a 50/50 to retrieve it, right?
That’s real luck. The deep-sea diver became the best at a skill in a specific niche and opportunities seek him out.
Steps to becoming a thought leader
Create a niche for one
To be a thought leader you need a unique voice. You need to create a niche for one. You should look at skill stacking.
This is your skills + interests: combine these to build a niche for one.