"BAD" LUCK
WHAT IS YOUR
RETURN
ON THIS
“BAD”
LUCK?
TBY: ANDY BUYTING
This pandemic has challenged businesses in more ways
than we could have ever imagined. As a business, you will
have already experienced survival mode in the beginning,
which moved into stability and hopefully opportunistic
growth.
Now after this massive change in the economy, we’ve been
thrown right back into survival mode and forced to
navigate this new normal.
Thankfully, there is always opportunity in business for
those that take the time to think and act strategically.
In his 2011 book, Great by Choice, Jim Collins wrote an
entire section on what he coined the “Return on Luck”
and how some companies seem to experience an oddly
consistent return on luck. This can be very positive or very
negative depending on whether the luck is good or bad.
In fact, when Collins performed a study on the return on
luck, it occurred almost exactly 50% each way: 50% of
companies consistently experienced a positive return,
50% of companies were consistently experiencing a
negative return.
The companies that consistently experience a positive
return on luck are those that invest time on high-level
strategic thinking. Where others bury their head in the
sand, running faster and harder to accomplish more
without being strategic about it, these companies rise
above and lead the change.
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