The 4 types of luck, creating wealth, and hiring

Welcome back to the Z Fellows newsletter! Every Monday we share 3 ideas - to help you build companies, ship products, and create your life's work.

1: The Four Types of Luck

Marc Andreessen is the co-founder of Mosaic, the first widely-used web browser, and co-founder of a16z.

In this essay, Marc breaks down the four different types of luck:

1) Pure Blind Luck - Like winning the lottery

2) Luck by Motion - You work hard, network, promote yourself, and “Unluck” runs out.

3) Luck from Awareness - “Chance favors the prepared mind.”

4) Luck from Uniqueness - Your hobbies, traits, or reputation bring you luck.

Source: Luck and the Entrepreneur: The four kinds of luck

2: How to Create Wealth

Derek Sivers is a musician, producer, circus performer, entrepreneur, TED speaker, and author.

He wrote a blog post on a few things he’s learned about creating wealth.

Here are 3 of my favorite tips:

1. Live where luck strikes

Live where everything is happening, where the money is flowing, where careers are being made, where your role models live.

Once there, be as in the game as anyone can be.

Be right in the middle of everything.

2. Learn the multiplying skills

Speaking, writing, psychology, design, conversation, 2nd language, persuasion, programming, meditation/focus.

Not pursued on their own, they’re skills that multiply the success of your main pursuit.

3. Be the owner, not just the inventor

It’s tempting to try to be the ideas person, having someone else do the dirty work of making those ideas happen.

Ideas don’t make you wealthy. Great execution of ideas does.

A rule of capitalism: whoever takes the most financial risk gets the rewards.

The biggest rewards will always go to those who fund it and own it.

To build wealth, be the owner.

Source: Do This Archives

3: Resumes Founders Should Look For

Ali Abdaal is a popular productivity and self-improvement YouTuber. His channel has close to 5 million subscribers.

He’s read over 2,216 resumes from people applying to work with him.

Here are 3 things to look for in an applicant:

1. People who use The Third Door

Anyone and everyone can submit a resume. Few will take the time to:

1/ Do proper research
2/ Find a connection
3/ Do the work upfront

High performers find ways to stand out.

2. People who build a portfolio

Who would you rather hire?

Someone with a piece of paper that says they graduated or someone who’s done what you’re hiring for and has a portfolio of work to prove it?

A resume can’t accurately display the skills you possess. Instead, look for those who curate a portfolio of work they’ve done in the past.

3. People who lead with value

Look for people who constantly ask, “How can I make this easy for my boss?”

People who know it’s not about what they want. It’s about what they can do to help you. People with an outward mindset.

Here’s an example of a 14-year-old using the Third Door, sharing her portfolio of work, and leading with value:

Source: I Read 2,216 Resumes. Here’s How You Stand Out

Best of The Week

See you next Monday,

- Jay + The Z Fellows Team

New here?

Subscribe here to get our email every Monday.