"You are not what you were born, but what you have it in yourself to be."
--Godfrey of Ibelin (Kingdom of Heaven)
Increasingly, it seems, success is being questioned. One argument is that successful people get there because of exogenous factors such as heredity, upbringing, and luck.
If we split luck out into a separate 'error' term, exogenous factors constitute one of three sets of factors in the success equation:
Success = endogenous factors + exogenous factors + error (luck)
Because the exogenous factors are largely predetermined, they resemble a constant term in the success equation--a success baseline of sorts. It seems likely that this success baseline is tiny compared to a person's potential for success.
Achieving success beyond the baseline requires an individual to engage endogenous factors. Skill levels honed through practice. Knowledge gained through learning. Proper attitude such as confidence and persistence.
Those factors under the control of the individual are those that determine ultimate level of success.
Saturday, November 3, 2012
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If you could put your ball back, and they took out, at random, a hundred other balls, and you had to pick one of those, would you put your ball back in?
Now, of those hundred balls … roughly five of them will be American. … Half of them are going to be below-average intelligence, half will be above.
Do you want to put your ball back? Most of you, I think, will not. … What you’re saying is, “I’m in the luckiest 1% of the world right now.”
~Warren Buffett
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