The Luck Factor Book Review

Unlocking the Secrets of Luck: A Review of The Luck Factor by Richard Wiseman

Some people seem to have all the luck in the world, while others seem cursed. In “The Luck Factor” psychologist Richard Wiseman explores the science behind luck and provides practical tips to increase your own luck. In this book review, I will provide a summary of the key themes and insights which I took from this book.

Before we start, I should clarify that I consider myself a “lucky” person. Based on the lessons of this book I now know why.

Wiseman begins by debunking the common myth that luck is purely a matter of chance. He argues that luck is, in fact, a skill that can be learned and cultivated.

“Many people wrongly believe that luck is a fleeting and random force that cannot be controlled. The truth is that luck is largely the result of human behaviour and can be influenced by the decisions and actions that we take.”

Richard performed intriguing experiments on groups of people to test whether it is possible to change the outcome of luck-based events like a lottery or competition draw by simply considering themselves lucky or unlucky. He showed that for truly randomised events, the outcomes were as expected – random. Considering yourself lucky or unlucky did not impact the result. He found lucky people with extraordinary winning streaks in competitions and the like. It turns out that these people were actually increasing the probability of a win through tactics like applying to many competitions and filtering competitions in which they had a higher chance of winning.

I remember when I was 16 years old, I won a brand new PC computer, and I could not believe my luck. On reflection, I won due to the probability being skewed in my favour. The survey I filled out to enter the competition was in an obscure place and consisted of a lengthy questionnaire which required two people to complete. Most likely… I was the only person who filled it.

“Lucky people generate their own good fortune via four basic principles. They are skilled at creating and noticing chance opportunities, make lucky decisions by listening to their intuition, create self-fulfilling prophesies via positive expectations, and adopt a resilient attitude that transforms bad luck into good.”

🔭 Principle 1: Creating and noticing opportunities

This principle is the primary one which I believe has influenced my own life. I have seen countless times where I was given a break or opportunity that others missed simply because I was open to them and put myself in the “right place at the right time”.

Richard proved this principle through a practical experiment. A number of people who pre-identified themselves as “lucky” and “unlucky” were invited to a testing office. When they arrived, they were told the experiment was complete…

The researchers had placed cash on the floor in the corridor on the way to the room. They found that there was a significant statistical correlation between lucky people noticing the money and unlucky people not.

The book goes through some other interesting examples and studies, but the outcome is that lucky people are measurably more observant and more likely to create beneficial opportunities.

Unlucky people tend to be more lost in their own thoughts, focussing internally and therefore missing external events, which could lead to a lucky encounter or event.

“Unlucky people miss chance opportunities because they are too focused on looking for something else. They go to parties intent on finding their perfect partner and so miss opportunities to make good friends. They look through newspapers determined to find certain types of job advertisements and as a result miss other types of jobs.”

👂Principle 2: Listen to your intuition

Lucky people are more likely to pay attention to their gut feelings, hunches, and instincts and use them to guide their decisions and actions.

Richard describes intuition as a “sixth sense” that allows us to access information beyond our conscious awareness. He argues that our brains constantly process vast amounts of information, much of which we are unaware of. However, our subconscious mind can pick up on patterns and connections that we may not be able to articulate or explain.

Lucky people are more in tune with these subconscious signals and are better able to trust and act on them. For example, they may feel drawn to a particular person at a social event and end up making a valuable connection.

By listening to their intuition, lucky people are able to make better decisions and seize opportunities that others may miss. They are also more confident and self-assured since they trust their own instincts and are not overly influenced by the opinions of others.

Of course, it’s important to note that intuition is not infallible and can sometimes lead us astray. Richard advises that we should still use our rational thinking skills to evaluate options and make decisions but that we should also pay attention to our intuitive signals and factor them into the decision-making process.

😊Principle 3: Positive Attitude

Lucky people tend to have a generally optimistic and positive outlooks on life, which helps them to stay open to new opportunities, bounce back from setbacks, and attract positive outcomes.

Our attitudes and expectations can have a powerful influence on our experiences. When we approach life with a positive attitude and believe that good things are possible, we are more likely to notice and seize opportunities, and we are better equipped to deal with challenges and setbacks.

On the other hand, when we approach life with a negative attitude and believe that bad things are inevitable, we are more likely to miss opportunities, give up easily, and become overwhelmed by difficulties.

Richard cites numerous studies that support the connection between a positive attitude and luck. For example, studies have found that people who believe they are lucky are more likely to have successful careers, more satisfying relationships, and better physical health than people who believe they are unlucky. Lucky people also tend to be more resilient and better able to cope with stress and adversity.

To cultivate a positive attitude, Richard recommends practising gratitude, focusing on the good things in your life, visualizing success, and reframing negative events more positively. By doing so, you can shift your mindset to one that is more open, optimistic, and resilient, which can help you to attract more positive outcomes and opportunities.

Richard provides an interesting test of this principle; he describes a situation where you are waiting in line in a bank. An armed robber enters, a scuffle ensues, and the gun goes off. You are shot in the arm.

Would you consider this a lucky or unlucky event?

Lucky people saw the positive… “I am lucky to have not been killed.”

💪Principle 4: Resiliency

Resilience is a learned skill; lucky people tend to have developed it through their life experiences. They are able to adapt to new situations and challenges and are better equipped to cope with stress and uncertainty.

Resilience is important because life is full of ups and downs, and setbacks and failures are inevitable. However, lucky people are able to turn these setbacks into opportunities for growth and learning rather than becoming discouraged or giving up.

Richard cites research that shows that resilience can be cultivated through deliberate practice. For example, developing a growth mindset, which involves seeing challenges as opportunities for growth and learning, can help to build resilience. Similarly, practising self-compassion and cultivating a strong support network can help to bolster resilience.

By being more resilient, lucky people are better equipped to weather life’s challenges and setbacks and are more likely to come out stronger and more successful in the long run.

Conclusion

In conclusion, “The Luck Factor” is a fantastic book, and I found it engaging and insightful. Wiseman’s writing is clear and accessible, and he presents his research in an informative and entertaining way. I appreciated the practical tips and exercises he provided. Whether you’re a believer in luck or not, this book is worth a read.

This is one of those books which I frequently quote to my friends and family.

“Luck is a matter of preparation meeting opportunity.”

Roman philosopher Seneca