How to Get Lucky as a Startup Founder

I frequently discuss the importance of creating the “opportunity of opportunity” for startup founders. In essence, this means cultivating the groundwork for luck, chance, and serendipity to take root, as these elements are integral to almost every first-time entrepreneur’s journey.

I vividly recall a particular instance that perfectly encapsulates this concept. This event took place many years ago at Capital Factory, a hub for technological innovation and a thriving incubator and accelerator ecosystem based in Austin. I was in the company of a group of startups, accompanied by a senior engineer and a senior marketing executive from AMD.

The exercise I proposed to the room was simple yet illuminating. I asked each participant to stand and share a brief overview of what they were passionate about outside of their professional lives. After that, they were to talk about their ventures at Capital Factory. My anticipation was that the two would align, revealing that these individuals were investing their time and energy into a startup that truly reflected their personal interests and passions.

The idea behind this exercise was to highlight the importance of aligning personal passion with professional endeavors. This alignment, in my view, significantly increases the chances of finding the magical moments of opportunity that can propel a startup towards success.

As Steve Jobs, co-founder of Apple Inc., once said, “Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do.” This sentiment resonates deeply with the essence of the exercise. It underlines the fact that when passion and profession align, they create an environment conducive to serendipity, thus increasing the likelihood of being ready when luck comes knocking.