How do people get ahead, how do 20% succeed while 80% fail? We’re often told that the most important factor of success is hard work and that we won’t get anywhere without putting in a lot of time. The dogma around hard work refers to the belief that hard work is always necessary for success and that it is a virtue in and of itself. This belief is often deeply ingrained in certain cultures and can be reinforced by societal expectations and norms.
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But what if those who succeed simply have an unfair advantage over their competitors and everyone including you also has an unfair advantage that you can start developing to help you rise from being an entrepreneur likely to fail to an entrepreneur who is likely to succeed.
Life isn’t fair…
Portrait of Dr. Gachet (First Version)by Vincent van Gogh
“For to everyone who has, more will be given, and he will have abundance; but from him who does not have, even what he has will be taken away. — Mathew(25:29)
One of the main ways that life can feel unfair is through the lack of access to resources and opportunities. For example, you may have a great idea about a startup but not have access to the same level of funding or support as others. This can make it harder to get your business off the ground and compete in the market. Money makes money, and as a result, the rich keep getting richer. When we’re looking at most of successful people, they didn’t get everything out of pure hard work, there were other things that played a strong role like circumstances, relations, investment, etc.
Everybody has different strengths and weaknesses inherently and everyone’s circumstances are also different. We don’t have a connection to the right network, or finance among other things. These unfair advantages can give one a competitive advantage over others.
The MILES framework —The 5 Advantages
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Money: Money can often be seen as an unfair advantage, as it can provide access to resources and opportunities that may not be available to those who do not have financial means. For example, someone who has a lot of money may be able to afford a higher education, which can open up a range of career opportunities and increase their chances of success, or a person from a rich family launching a startup can get early investment from parents, which can give them a competitive edge among others.
Intelligence/Insight: Intelligence can often be seen as an unfair advantage in business, as it can provide individuals with the ability to learn and understand new concepts more quickly, solve problems more effectively, and make better decisions. The first step to solving the problem is to recognize that there is one. This can give them an advantage in the business world, as they may be more likely to succeed in their endeavors and climb the corporate ladder. For example, an individual who excels in their studies is accepted into a prestigious business school or program and has a network with other tech entrepreneurs.
Location: There are several ways in which location can provide an unfair advantage in business. For one, businesses located in major cities or regions with strong economies may have access to a larger pool of potential customers, which can increase their revenue and profitability. They may also have access to a wider range of resources and infrastructure, such as transportation networks, banking and financial services, and communication technologies, which can make it easier for them to conduct business. For example, Silicon Valley can be key to making connections and unlocking new opportunities for new tech startups.
Education: Someone who has a higher level of education, such as a college degree or advanced degree, may have an advantage in the job market and may be more likely to be hired for a high-paying or prestigious position. They may also have access to a wider range of career opportunities, as many industries and organizations place a high value on education and may only consider candidates with certain levels of education for certain positions.
Status: Someone with a high level of status, such as a prominent business leader or a member of a prestigious organization, may have access to a larger network of connections and may be able to leverage their status to secure business opportunities or partnerships. They may also be able to more easily influence decision-making and shape the direction of their industry or organization.
What is your Unfair Advantage?
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While disadvantages can present challenges and barriers to success in business, they can also be turned into advantages with the right approach and mindset. You need to figure out a path to your goal, which would be of the least resistance to you. So, to determine the path of your least resistance, you must first figure out your unfair disadvantage. What may seem like a disadvantage to you, can be turned into an advantage.
For example, a person who has little to no money. Having little money makes you want more money because you need money. When we are faced with a need or challenge, we are motivated to find a solution or to invent something that will meet that need. This can drive us to be creative and resourceful and to come up with innovative solutions to the problems we face.
“Necessity is the mother of invention.” — Plato
Ask yourself what new skills and expertise you can stack and that is something we can build on our own by investing more time into developing skills. Focusing on education is also an important factor in the success of a business, as it can provide individuals with the knowledge, skills, and expertise needed to succeed in their roles and make informed decisions.
Manufacturing your own luck
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We can often take steps to create our own luck and increase our chances of success. While luck can sometimes play a role in our lives, it is important to recognize that we also have the power to shape our own destinies and create our own opportunities.
Here are a few ways in which we can manufacture our own luck:
- Setting goals: By setting clear and specific goals, we can create a roadmap for success and take steps to achieve those goals. This can help us stay focused and motivated and increase our chances of success.
- Taking action: In order to create our own luck, we must be proactive and take action. This can involve seeking out new opportunities, networking, and trying new things. By taking action, we increase our chances of success and create our own luck.
- Staying open to new opportunities: Another way to create our own luck is by staying open to new opportunities and being willing to try new things. This can involve being open to new experiences and stepping outside of our comfort zone. By being open to new opportunities, we increase our chances of finding luck and success.
- Being resilient: Finally, manufacturing our own luck also requires resilience and perseverance. When faced with challenges or setbacks, we must be willing to persevere and keep moving forward. By being resilient, we increase our chances of success and create our own luck.
Conclusion
Success is a complex and multi-faceted concept that can be influenced by a variety of factors, including hard work, talent, skill, education, luck, and resources. Some people may view success as a result of fair play, meaning that they have achieved their goals through their own efforts and merit. Others may view success as being influenced by unfair advantage, meaning that they have received preferential treatment or have had access to resources or opportunities that others do not have. We can create our own luck through various steps which increases the chances for success.
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