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Paul Rosania

Hi! I'm Paul. I work at Balsa.
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On Luck, and Entrepreneurship

September 16, 2010

… the second big thing is luck. And it’s not relying on luck, or relying on fortune. It’s being able to recognize when it’s happening around you, and being able to recognize a situation that encourages buildout and execution of an idea.

Jack Dorsey at NYT’s 99% Conference

Startups fail. If I got paid for every time I heard the 5-year small business success rate quoted, I’d have my fuck you money already. My dad, ever the scientist, likes to remind me that despite blood, sweat and tears, if my startup succeeds it will be because I was “one of the lucky ones.”

It’s true. And yet, the type of luck we seek as entrepreneurs is not blind luck, like finding a $100 bill on the sidewalk. The type of luck we are after is situational luck. Nailing a pitch. “Clicking” with a client prospect or investor. Hiring a kickass team, and watching them hit home runs for your company. Yes, the outcome of each singular event is lucky. But the sum of it all, the net outcome, is not luck.

We make our own luck, and it is a blend of situational awareness and tenacity.