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.

---

Why Balancing Your Polarity Can Make Life Better

Driven by cultural imperatives and inner promptings, we drive ourselves... Read More

Bring on the Boosters!

Nobody becomes a success alone, period. There is no such... Read More

10 Secrets for Success and Inner Peace - Wayne Dyer Book Mini-Review

Dr. Wayne Dyer published his best-selling book, "10 Secrets for... Read More

Who Else Wants to Keep Failing?

Who wants to carry on being a failure?Failure. Not a... Read More

A Stop On the Road of Life

With three kids, a business, a husband with a business,... Read More

Why You Cant Budget For Success

Do you constantly find yourself saying "I can't afford it"... Read More

Success Without Whining About Doing Your Best

In the film 'The Rock', Sean Connery takes a dim... Read More

STOP Trying Harder

You've been searching for self improvement or personal development. Trying... Read More

Insinct Is Your Life-blood - Says Author

Fourteen thousand civilised people died when the tsunami hit Andaman... Read More

Success: How To Succeed Most of the Time

We set goals, strive for them and only consider ourselves... Read More

Skills or Beliefs: Which Matters Most to Your Business?

Skills or beliefs; this may well be another example of... Read More

Youve Got To Find Passion In It

People often ask me, "Josh, if you had one bit... Read More

Candleburning 101

One of the questions that I am asked most often... Read More

Dont Listen To Successful People

Do you know what the problem is with asking successful... Read More

My First Major Failure

Thomas Edison wrote his quote " I have not failed,... Read More

Success Through Work And Training

Most self-help truths are obvious but obvious truths are often... Read More

Expectations

I'll let you in on a little secret...life delivers pretty... Read More

Who Wants to be a Millionaire?

I do! I want to be a millionaire! Do you?Judging... Read More

Thinking for Success

Thoughts are very powerful. An intention held long and hard... Read More

Don?t Stop Asking So Many Questions

A few weeks ago I took my boy on a... Read More

Sharpen Your Saw by Continuously Learning

What does a sharp saw have to do with lifelong... Read More

The Definition of WIN!

When you look into the eyes of a winner, what... Read More

How To Prepare Yourself Mentally For Success

Okay, so you've finally made that big decision to start... Read More

Wheres Your Value?

The simple action of writing the every day grocery demonstrates... Read More

Believing in a Better Lifestyle

How many of you have ever thought about the link... Read More

Sticktoitivity: Lessons Learned!

Walt Disney coined a special phrase for persistence and determination;... Read More

Patient Persistence Pays Off in a Big Way!

Energy and persistence conquer all things. - Benjamin FranklinThough Ben... Read More

Want To Succeed In Business, Social, Personal Life? Take Good Care Of Your Personal Image

Your personal image: It's the most important YOU asset you... Read More

Moving to the Other Side of Box

Few books have impacted my perspective on human psychologically and... Read More

Success: What Are You Afraid Of?

What are your fears? Fear of failure? Fear of success?What... Read More

What Bowling and Success Have In Common

I was flying home from a seminar in Atlanta yesterday... Read More

The Role of Failure in Success

Does the thought of failure send a cold shiver down... Read More

Top Ten Success Strategies

1. Believe in yourself and what it is you do.... Read More