Return on Luck Great by Choice Ch 7

Return on Luck Great by Choice - Ch. 7 Group 5 COURTNEY ELLIS ROBERTO PADILLA GLEN LESLY CASEY HARVEY MASON STONE JULIO GARCIA TRAVIS TEMPEL MIGUEL MEDRANO

Chapter Overview What is a Luck Event? Malcolm Daly and Jim Donini story -- and was the success Luck or Skill Different Luck Events Are 10 Xers luckier than comparisons? ROL scenarios and what contributes to Great ROL Who is your best luck Luck is not a strategy Underarmour's Return on Luck so far

What is a Luck Event? 1. Some significant aspect of the event occurs largely independent of the actions of the key actors in the interprise. 2. The event has a potentially significant consequence (good or bad) 3. The event has some element of unpredictability. Ex: The Story of Malcolm Daly and Jim Donini

Luck or Skill Bad luck- Daly lost his grip on the mountain. Good luck- Rope was not cut all the way through. Good luck- Daly did not die. Good luck- Daly did not kill Donini as he fell from the top of the mountain. Good luck- Donini reached base camp just as Paul was flying by. Good luck- The rescue team got to Daly before the raging storm.

Luck or Skill - Daly made a plan to live. He had to stay warm. He had a regimen to do a 100 windmills with each arm. He did stomach crunches 100 at a time. He had the stamina to do this for 44 hours.

Luck Events Good, High Importance Bad, High Importance Good, Medium Importance Bad, Medium Importance Good, Low Importance Bad, Low Importance

Possible ROL Scenarios 1. Great Return on Good Luck 2. Poor Return on Good Luck 3. Great Return on Bad Luck 4. Poor Return on Bad Luck

Great ROL The Leadership Concepts: 1. Fanatic Discipline 7. Cannonballs 2. Empirical Creativity 8. Leading Above the Deathline 3. Productive Paranoia 9. SMa. C 4. Level 5 Ambition All directly contribute to earning a great ROL 5. 20 Mile March 6. Fire Bullets

Luck vs. ROL Great Return on Luck Defining Moments in 10 X journey Essential Skill for 10 X results Can lead to hitting the Death Line A sure path to mediocrity Poor Bad Luck Good

ROL Examples Great Proposition 103 and Progressive Insurance Bill Gates and his success PSA compared to Southwest AMD Story Return on Luck Poor Bad Luck Good

High ROL: Bill Gates Born into upper middle class and went to private school. Coming of age just as microelectronics made the computer inevitable.

Luck is NOT a Strategy 1. Cultivating the ability to zoom out and recognize luck when it happens. 2. Developing the wisdom to see when, and when not, to let luck disrupt your plans. 3. Being sufficiently well-prepared to endure an inevitable spate of bad luck. 4. Creating a positive return on luck--both good and bad luck. Luck isn't a strategy, but getting a positive return on luck is.

Underarmour's ROL find answers to key questions in chapter summary as they pertain to underarmour. . . who wants this slide? also bonus question. . . who is underarmour's best luck?

Conclusion Malcolm Daly and Jim Donini. Luck or skill. Amgen vs. Genentech Return on luck good or bad. Luck is not a strategy. Who is your best luck. 10 xers and their comparisons.