12/03/2013

By Caroline Coles, Fresh Business Thinking

Last week’s live debate ‘Business Success: What’s luck got to do with it?’ hosted by the Royal Institution in partnership with Hiscox gave light to some interesting opinions from both the panel and the audience members.

Hosted by Liz Barclay and featuring successful entrepreneur Sarah Curran, founder of mywardrobe.com, along with academics Stephann Makri, Matthew Smith and Douglas Miller, the event discussed what role luck played in the success of a business.

Alan Thomas from Hiscox introduced the one-off debate leading with the question ‘do we make a good name for ourselves based on good luck or good judgement?’ When Liz Barclay asked for an audience vote as to whether business success was based on luck or whether it was all down to hard work there was a clear sway toward the opinion that success is not just down to just hard work alone.

With this view in mind Dr Stephann Makri took the lead to discuss his findings on the role of serendipity and its connection to business success.

One of the first observations he had made during his research was the importance of variation. He claimed that by varying your routine you would effectively be opening yourself up to new opportunities that wouldn’t normally head your way otherwise.

What do you think? Have you enjoyed business success as a result of chance meetings? Join in the conversation using the hashtag #RILuck