Most people consider knowledge, skills, and expertise to be the key determinants of one’s success in life. And while these aspects certainly do contribute to one’s success, I would argue there are two underappreciated factors which probably contribute much more to success than most people realize or give credit for:
Luck. The under appreciation of the role luck plays in the successes experienced in life often leads to overconfidence in one’s knowledge, skills, and abilities. Most people who experience outsized success, attribute this success to their own superior knowledge and expertise. The resulting overconfidence often leads to excessive risk taking and catastrophic failures and outcomes. Daniel Kahneman in his outstanding book, “Thinking Fast and Slow,” indicates that poor performance is typically followed by improvement. Likewise, good performance tends to be followed by underperformance. Each of these are due to random effects alone. This is why many of the best fund managers, athletes, and CEOs celebrated one year, tend to underperform in future years and why the worst performers often outperform their peers in the years that follow. Kahneman identified multiple studies in his book which supported this. It’s simply a reversion to the mean effect.
Attitude. Having a positive attitude towards yourself, towards others, and towards life overall is instrumental for success and is something I never take for granted. If you are the type of person who genuinely cares about others, cares about the planet, cares about yourself, generously shares what you have with others, and lives with a sense of genuine appreciation then success is virtually guaranteed. The more you fill your life with caring, sharing, and appreciation, the happier you will feel and the more rewarding your life will become. Three ways to achieve this include thinking good, doing good, and being good:
- Thinking good involves having positive thoughts towards yourself, towards others, and towards the planet whether focusing on the past, present, or future.
- Doing good involves making positive contributions towards others and towards your surroundings.
- Being good involves having a positive disposition and a good-hearted nature as well as a high level of integrity.
Filling your life with caring, sharing, and appreciation in these regards not only creates a happier you, but also creates happier surroundings, success, and abundance throughout the months, years, and decades of your life.
Of the above factors, I would argue that attitude is the key determinant of success and that this is probably more important than the other two factors combined. For example, if you have been following my investment related activities (https://brighterdayslifecoaching.com/stock-market-activities/) you know that this year I have experienced outsized gains in the stock market. And while most people would tout their superior knowledge and skills as being the primary factor for their success, I attribute this success much more to attitude than knowledge or skill.
For example, anytime something great happens for me, financially speaking (or otherwise), I’m a big believer in using at least part of the proceeds to offer unique opportunities to others. I create a Beneficiaries Reserve Fund for this purpose which I add to over time.
Essentially, the way my Beneficiaries Reserve Fund works is this: I have a financial target to meet and if I exceed that target, then half of the excess amount goes to me for personal use and the other half goes to the Beneficiaries Reserve Fund. It’s just a promise I’ve made to myself and kept over my years of investing.
Well, I’ve been building up this fund over several years and on the 4th of March I decided to put it to good use by helping someone who has struggled for years with a large amount of debt and high-interest-rate credit cards. I simply wanted to offer this person the stress-free experience of living debt free and the wonderful peace and joy and freedom that it brings. Earlier that day, I had earned a 13% gain on my investments. What’s interesting is what happened after I made that decision. As of Thursday (9 April), my gains had sky rocketed to 64% in only a month’s time. I earned much more in those four weeks than everything I had offered to help the friend in need. Coincidence? Perhaps. But I don’t live my life believing in coincidences. And although luck and skills might have played a role, I believe the largest factor was due to attitude and the way I live my life.
And the above is just one example of the many times I’ve been blessed with happiness and success in my life. For another recent example, a year ago I sold my house for $335,000 and used the proceeds to buy CDs paying 3.2% interest. Well, when I checked recently, the value of the house I sold was only $280,000. So, had I waited to sell, not only would I have sold it for much less but the CDs I bought would have paid about half of what I got a year ago.
I make it a daily habit to extend kindness, to be appreciative, and to value and care for the planet (humans and non-humans alike). I won’t get into the details in this post, but for those who might have interest, you can read a summarized version of the “JOE BRENNAN GRAND PHILOSOPHY ON LIFE” here: https://brighterdayslifecoaching.com/happiness-tip-how-to-create-a-happy-priceless-beautiful-life-which-costs-nothing/
Try living your life this way and see if you don’t become blessed and showered and empowered with success and happiness in ways you never thought, imagined, or dreamed was possible. This is something which never ceases to amaze me and it’s happened many, many times throughout the years and decades of my life. So, I encourage you to live your life in this fashion. You won’t regret it. Because there is not one day that goes by where I am not filled with an overabundance of joy and loving appreciation for all my life has become. So, be kind to others, be appreciative, and care for the planet and you might be amazed at just how wonderful your life becomes. Because you will create happier surroundings, a happier you, and be continually blessed in the months, years, and decades to come. So do this for yourself (and others). And do it often.
This and other happiness tips and topics are provided throughout my self-help, happiness, and investment oriented books: https://brighterdayslifecoaching.com/published-books-and-life-coaching-services/
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