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Is it better to be smart or to be lucky?

As many of you are aware, I am fond of asking this rhetorical question, and often I go on to say that I believe I am a lucky guy. My partner, Barbara, likes to take issue with me, saying I am blessed rather than merely lucky. In 65 B.C., Seneca — a Roman dramatist, philosopher, and politician — said, “Luck is what happens when preparation meets opportunity.” Our experience has been that businesses that have a strategy and know where they are going recognize an opportunity when it presents itself. Although this opportunity may seem like a wild idea to many people, the focused executive can see that it clearly fits into the company’s long-term business plan. If an opportunity presented itself to your team today, would they recognize it?