We often look at highly successful entrepreneurs, scanning their resumes for secret tactics.
Was it that they hustled for 20 hours a day, or that they had a cutting-edge idea that changed the face of tech?
Those elements help, but according to Mark Cuban, there’s something else: luck.
Most of us might be so busy analyzing habits or devouring productivity hacks that we forget the impact of random circumstances. Hearing someone with Cuban’s track record plainly say that luck is necessary can feel both frustrating and oddly liberating.
I still remember the day I stumbled on Mark Cuban’s quote.
He wasn’t tiptoeing around the topic — he spelled it out: if you’re chasing billionaire status, you need more than determination, skill, and timing — you need genuine luck.
For some folks, that’s a tough reality to swallow because it takes a chunk of control away from the narrative we love. We want to believe that success is purely the result of grit, hustle, and unwavering self-belief.
But Cuban calls that out as incomplete.
So how do we reconcile this? Do we just throw our hands up and let the chips fall where they may?
Not quite.
There’s still a lot you can do, even if you acknowledge that luck plays a role in major outcomes.
Let’s explore how luck, skill, and mindset fit together—and what the rest of us might be missing.
The role of luck in big wins
Mark Cuban built and sold companies for astonishing sums, then went on to invest in others through shows like Shark Tank.
He’s a walking blueprint of an entrepreneur who saw big results.
But instead of crediting his brilliance alone, he’s been candid about how fortune smiled on him at various points.
I’ve had friends who built startups, only to see them crumble because they launched on the heels of a global financial crisis. They had skill, dedication, and solid market research. But circumstances dealt them a rough hand.
Meanwhile, another contact of mine happened to create a small mobile app a few years ago, right as that category was exploding in popularity.
His product skyrocketed, netting him a small fortune. Another six months later, and the opportunity wouldn’t have been the same.
As James Clear has noted, “You do not rise to the level of your goals. You fall to the level of your systems.”
This highlights how good processes and daily habits can help position you well. But it doesn’t discount the wind that might blow in your favor or against it.
James Clear’s quote resonates with me because if we set up the right structure, we can capitalize on those lucky breaks when they appear.
You can’t control every factor, but you can be in the best possible place to leverage unexpected tailwinds.
Why most overlook the luck factor
Nobody wants to think they owe their success to chance.
People often prefer hearing that their achievements result from unwavering dedication or a step-by-step method.
There’s that part of our ego that craves control over our destiny.
And it’s true, skill and hard work are massive factors.
But discounting luck can lead to dangerous assumptions. I’ve met aspiring entrepreneurs who’ve beaten themselves up because they weren’t millionaires by 30.
They followed all the recommended productivity tips, took courses, and tried to emulate their idols. When they fell short, they felt incompetent.
But what if a piece of the puzzle was simply that their timing or circumstances weren’t right?
This is echoed by studies in behavioral economics that show how we often attribute results too heavily to personal effort, underestimating environmental and situational factors.
Putting yourself in luck’s path
Acknowledging that luck plays a role doesn’t have to make us feel helpless. We can still shape our odds in a big way.
Cal Newport, author of Deep Work, said, “Clarity about what matters provides clarity about what does not.”
That clarity can help us focus on making consistent progress so that we’re ready when an opportunity arises. If we’re scattered and unfocused, we could miss that perfect break even if it lands right in front of us.
A personal example comes to mind: early in my career, I spent a lot of time refining my pitching skills for potential investors.
While I was refining those skills, I randomly met a venture capitalist at a friend’s dinner.
If I hadn’t been prepared to succinctly explain what my startup did, that meeting might’ve gone nowhere. Instead, it led to a series of introductions that fast-tracked my business’s growth.
Was I lucky to be at that dinner? Yes.
But I had also sharpened the skills I needed in order to take advantage of it. I’ve mentioned this sort of preparation in a previous post, but it remains a crucial lesson: luck meets readiness.
The secret 98% don’t get
Plenty of people only see the end result — like hearing that Mark Cuban made billions when he sold Broadcast.com to Yahoo.
They assume he was a genius with flawless tactics.
That assumption blinds us to the idea that in a parallel universe, maybe that sale wouldn’t have happened at that crazy valuation if the market had been in a slump. Or if broadcast streaming hadn’t been gaining traction at that exact time.
Most people never see the hidden slip-ups, the near-disasters, or the unexpected positive turns behind the scenes.
We also don’t see that there were plenty of other bright entrepreneurs who simply had terrible timing.
By ignoring the randomness factor, we cling to a narrative that if we read the right books, follow the right habits, and hustle 24/7, we’ll inevitably reach the same heights.
That’s where we set ourselves up for disappointment.
Simon Sinek once said, “Achievement happens when we pursue and attain what we want. Success comes when we are clear in pursuit of why we want it.”
That pursuit of “why” can keep us motivated even if we don’t become billionaires.
Sinek’s point resonates because it underscores the importance of having deeper drivers that push us forward, rather than pinning all our hopes on external markers of success.
Skill, hustle, and patience still matter
While we’re on the subject of luck, let’s not ignore skill.
You can have the greatest stroke of luck in the world, but without competence, you might squander that opportunity.
This is why so many people talk about building a strong foundation — learning essential business principles, honing a craft, cultivating emotional intelligence, and understanding the people you serve.
Even in a lottery scenario, you’re better off knowing how to manage the winnings so you don’t blow it all in a few years.
Also, hustle (the gritty version of getting work done) is vital because it positions you to discover more lucky moments.
If you’re networking, creating content, building prototypes, or attending events, your probability of crossing paths with a game-changing person or insight shoots up.
The fewer lines you cast into the water, the less likely you are to catch something.
Success beyond billions
Some folks may interpret Cuban’s statement as implying that if you’re not lucky, you won’t achieve anything. That misses the point entirely.
You can have an amazing career, earn enough to live comfortably, and enjoy an impactful life without hitting the billionaire club.
Plenty of brilliant entrepreneurs and professionals thrive without landing on the Forbes list.
I like to look at success as layered. We can reach a stable level of accomplishment through discipline, effort, and good decisions.
Luck may catapult a select few to the ultra-rich stratosphere, but it doesn’t invalidate the smaller yet still significant achievements of those who never get that lightning strike.
Instead of feeling resentful or cynical, we can appreciate that luck is one factor, while skill and grit are within our control.
Wrapping things up
Mark Cuban’s statement might seem daunting if you were hoping for a neat formula to replicate his billionaire success.
Yet, there’s a liberating side to admitting luck’s role: it takes off some of the pressure that everything you do must be perfect.
It’s never all or nothing, though. By combining skill, hustle, and the willingness to adapt, you increase your odds of encountering favorable breaks.
Even if you never become a billionaire, you’ll likely discover a path that’s both fulfilling and profitable.
Remember to stay ready.
Keep building valuable skills, stay curious about what’s happening in your industry, and maintain a strong network.
As you might know, here at Small Biz Technology, we see again and again that opportunities surface in unexpected ways for entrepreneurs who put themselves out there.
Sometimes luck arrives at the intersection of preparation and perseverance.
Until next time, friends
Feeling stuck in self-doubt?
Stop trying to fix yourself and start embracing who you are. Join the free 7-day self-discovery challenge and learn how to transform negative emotions into personal growth.
