Last week, I listened to Jim Collins at the Growth Summit in Barcelona.  He shared 4 hours with us via video.

There were three concepts that he shared with us that really struck a chord with me.  Today I wanted to put down my thoughts about the final concept that Jim shared:  Return on Luck.

Are successful people luckier?

Do successful people, companies have more luck than unsuccessful people or companies?  Jim looked at the data.

A luck event is one that meets 3 criteria:

1. not predictable
2. has consequences
3. outside of my control

Jim and his team looked at the history of successful and unsuccessful companies and identified every luck event that had occurred.  They found no difference in the rate of occurrence of luck events in the successful or unsuccessful companies.

Successful people are not luckier.

Jim and his team did find something important.  There is a big…