How To Get As Lucky As J. Paul Getty

J. Paul Getty appeared to be incredibly lucky, but it was a luck which, in many ways, he engineered. Instead of continuing on a well-structured career--that of the U.S. Diplomatic Services--he made a detour to the rich oil fields of Oklahoma.

There he had the difficult task of raising money, which he did by working and borrowing. He then took care of his funds, by spending them frugally. Initially, he hit a number of dry wells, but one speculation paid off for him. This last speculation was a calculated risk. Yes, he was lucky, but he also did his best to attract that luck.

A notable feature in his "luck" was his decisiveness. After reviewing the geological data, he decided to act on it. The data gave him odds on success, but it didn't guarantee anything. He could have continued to investigate, postponing the decision to act.

But, in his own words, he did not want to be "like one of those government commissions that are afraid to make a decision. They hold hearings, collect facts, stew and fuss and keep very, very busy for months and months. After a while you know it's just a sham. The appearance of action is just a front to hide inaction."

When you take chances, you risk defeat, you risk loss, but unless you play the game you may never win either. Playing to win also means willing to lose. Indeed, J. Paul Getty lost first before he won. However, money management enabled him to continue despite his losses. And because he only had small losses, he was able to keep enough resources to stay in the game.

Successful investors on Wall Street advise new investors never to gamble with their grocery money, because it has a twofold effect: one, it jeopardizes their well-being; two, they are nervous when they invest and this clouds their judgement.

In your own life, you can use the following checklist to be a 'luckier' and more prosperous person.

1. Find some area that needs investment of time, money, energy, and skill.
2. Calculate the risks.
3. Estimate the rewards.
4. Find the time, raise the money, harness the energy, and learn the skills.
5. Manage your resources so that you only take affordable risks.

Above all, remember that winning often involves risking, but risking does not mean gambling. When you gamble, you don't evaluate much information and you use all your resources. When you take risks, you review all the available information and only commit what you can afford to lose.

Dr. Abraham Weinberg, a prominent psychiatrist, once commented that passive people "tend to let life happen to them instead of using its opportunities in an asserive way. Often they are afraid of change itself, even change without risk. They tell themselves, 'I'm afraid of going into this new situation,' even when the situation holds no objective terrors except its newness. Instead of examining the situation and finding what the risks actually are, they simply drop out by saying, 'No, it's too much of a gamble.' It may not be a gamble at all. They are only making an excuse for staying in some familiar territory."

Resource Box

Saleem Rana got his Masters degree in psychotherapy from California Lutheran University. His articles on the internet have inspired over ten thousand people from around the world. Discover how to create a remarkable life

Copyright 2004 Saleem Rana. Please feel free to pass this article on to your friends, or use it in your ezine or newsletter. It's a shareware article.

---

Reaping a Multiple Reward

For every disciplined effort, there are multiple rewards. That's one... Read More

Reach Your Goals - Create A Nurturing Environment

Create an environment that is so inspiring and nurturing that... Read More

To Succeed Greatly, You Must...

(1) Climb up from under the limitations of circum­stances and... Read More

7 Tips for Success

In this article we mention 7 tips for your success.... Read More

No Shortcut To Success

Sometimes short cuts are not worth taking. They may bring... Read More

A Field of Multiple Opportunity

Opportunity is all around us and has many facets, but... Read More

Why Are Manhole Covers Round?

Recently I stumbled across a list of Microsoft Interview questions... Read More

Success -Ten Winning Traits!

No surprise - winning traits are common among high achievers.Are... Read More

Thoughts on Successful People

I was hired to do some training for a sales... Read More

5 Key Ways to Attract Abundance and Prosperity

When you hear the words "abundance" and "prosperity", what immediately... Read More

You Must Play By The Rules

You must play by the rules. Everything has rules. You... Read More

Surf the Wave of Abundance

Bank account bare? Bedroom barren? Body running on empty? Buddha... Read More

Top 25 Success Quotations

Consider what it takes to become an undeniable success with... Read More

Live the Dream

To achieve what you want, what you desire, needs a... Read More

It?s Sure to Succeed

There are "How to" seminars on virtually every business topic.... Read More

Listening - A Life Skill for Success!

When I decided to have my web site built, I... Read More

Price of Success

We're all adults, and most of us probably like to... Read More

Success Lessons From TV - What Key Life Skill Did Sugar Ray Teach?

Sugar Ray Leonard and Sylvester Stallone have recently hosted a... Read More

You Know How, But Do You Know Why?

An unexamined life is not worth living ? SocratesAll too... Read More

Easy Steps to Work-Life Balance

Knowing when to disconnect, shut it off, unplug, or walk... Read More

How Do You Define Your Success?

How does an online marketer define success ? There are... Read More

Learning From Your Mistakes

Your ability to deal constructively and effectively with mistakes and... Read More

Success Lessons From Tennis That Can Change Your Life

Most sports are full of lessons for the discerning. Tennis... Read More

Attitude Is The Key To Success

We all want success in life. We want success in... Read More

Winning: Defining It - Achieving It

If you ask most people whether they would like to... Read More

Success = Prosperity

Material or physical success is often measured by the level... Read More

15 Success Secrets Of The Strongest Men In The World

The 2004 final of the World's Strongest Man METRx Championship... Read More

Hey Bozo, Forget Logic and Kiss This!

I want to relate to you a story, READ it... Read More

Still Mourning That Business Failure!

No one wants to fail. But when in business you... Read More

Self-Confidence Is The Key To Personal And Professional Success

In my audio program Book Yourself Solid, The 7 Keys... Read More

What Do You Need To Do To Be Successful?

What do you need to do to be successful? If... Read More

Success Is Everything

(Excerpted From the 2001 Jim Rohn Millennium Weekend Event -... Read More

Reach Your Goals - Creative Multi-Tasking

Multi-task goal-completion work with everyday, "have to" activities If you... Read More