The Land Of Opportunity

A place where people have many chance to succeed, achieve things, etc

— Claude M. Bristol

The most successful immigrant group per capita in the United States, in terms of starting and building successful business, are Russians. Why is this so? It is because the Russians have come from a system where it has been so extraordinarily difficult to succeed that when they arrive in America, believing that America is the land of opportunity, they find that it is much easier to succeed than they have ever experienced.

As a result, Russians start business after business and achieve success that the average American continually claims are no longer possible. Because they absolutely believe that it is possible for them, they make their dreams come true. Their beliefs become their realities.

The reality principle

The past president of General Electric Company, Jack Welch, was considered to be one of the best business executives in the world. He said that the most important single quality of leadership is what he calls the”reality principle. “The reality principle says that you must deal with the world as it is, not as you wish it would, be. You must strive to be completely honest with yourself and your situation. You must refuse to engage in self-delusion and the hope that things will work out whether or not you do anything about them.

Especially when it comes to building wealth, you must be honest with yourself. You cannot afford to play games with your own mind if you truly want to be wealthy. You cannot wish and hope and pray that somehow you are going to win the lottery or strike it rich as a result of luck or some remarkable external circumstance.

You create your own luck

Often people ask me about the role of luck in success. They are convinced that luck is a critical factor in achieving anything worthwhile. They feel that some people are just lucky and some are not. They talk about luck as if it were a matter of fate or destiny, largely inexplicable. They insist that a person gets to the top of his field

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largely as the result of getting lucky breaks, which they, of course, did not get.

I have studied the concept of luck for many years. My conclusion is that luck is a word that people use to explain away things that turn out much better than could have expected. If a person achieves great financial success at a young age, people say he was “just luck.”

Some people use luck to describe something remarkably good that happens that is out of the ordinary. But it is not luck at all. The fact is that all so-called lucky outcomes are really the result of probabilities. There is no such thing as luck.

The Law of Probabilities says that there is a probability for everything that happens. These probabilities can often be determined with considerable accuracy. The entire insurance and underwriting industry is based on probabilities, which are expressed in actuarial tables.

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