Think lucky to change business fortune

Forget table-thumping management gurus, the key to business success is to "think lucky", a new study suggests.

A British psychologist has tested his theories on luck on a company whose fortunes had been flagging.

The result was a 20 per cent month-on-month increase in income and a surge in staff morale.

Professor Richard Wiseman says thinking lucky involves "going with the flow", shrugging off disappointment, being flexible and making the most of opportunities as they come along.

"The idea is not to be focused and rigid but to be relaxed and flexible," Wiseman says.

"You have to be prepared for the unexpected and to follow up lucky hunches and breaks."

The approach appears to have paid off for Technical Asset Management, a company that helps clients recycle and dispose of old equipment.

When TAM's managing director, Kevin Riches, teamed up with Wiseman the company was going through a difficult spell and morale was low.

"We're in a grind-it-out tough kind of industry, and I'm an engineer by background and as sceptical as anyone. But I thought it was worth a go.

"Now I'm flabbergasted by the results.

"Even if every individual only feels 1 per cent more positive about themselves and the company, this can significantly change the luck of a business."

From December 2002 and May this year, TAM employees took part in a programme of lectures, questionnaires, meetings and assessments designed to make them think and behave lucky.

They were asked to carry a "luck diary" in which they recorded positive and negative events.

At the end of the study, 54 per cent of the participants believed their personal luck had increased, and three-quarters felt there had been an upturn in the company's fortunes.

TAM's income grew 20 per cent month-on-month. May was the company's strongest month in three years.

"This is an exciting set of results," Wiseman said. "For years, businesses have viewed luck as superstitious nonsense.

"This study has shown that luck matters, and that the techniques used have the potential to make a significant impact on both employees' personal luck and the success of a company."

- NZPA