THERE’S A FAMOUS quote that’s often attributed to Thomas Jefferson: “I’m a great believer in luck, and I find the harder I work the more I have of it.”
Making your own luck is a concept I’ve long believed in, and have written about before. Clearly, luck plays a role in all human endeavors—finances especially. I’m particularly intrigued by the intersection of luck and hard work. But how exactly can we add to our store of good luck?
The answer may lie with a concept called “luck surface area.” The term immediately grabbed me, perhaps because it has a tangible feel to it. It was invented by Jason Roberts, an entrepreneur and coder in Southern California. In a blog post, Roberts describes it as “the amount of serendipity that will occur in your life.”
He writes that luck surface area “is directly proportional to the degree to which you do something you’re passionate about combined with the total number of people to whom this is effectively communicated.”
Roberts reduces his concept to a simple equation: L = D x T. In this equation, L is luck, D is doing and T is telling. Roberts believes that by passionately doing something, you’ll develop an expertise that’s valuable. But without communicating that expertise to others, it may go unnoticed or unused, hence the need for telling.
The more people who know of your abilities, the greater the chance someone will want to employ them. It may not be in a way we expect. It could be purely serendipitous.
Although Roberts developed luck surface area as a mental model for entrepreneurs, I think it can be applied to many areas of our lives. In our careers, the more we’ve done and can do, the more value we represent. By telling people you’re open to new opportunities, and by telling them about your skills and accomplishments, you increase your chances of discovering a great job.
The same is true of our financial lives. We can dig in and learn as much as possible, then start investing and building expertise. When we share our passion with others, we find like-minded people. They, in turn, share their experience and expertise with us. This can lead to opportunities we never would have expected.