Michael Yardney /

[Podcast] Is it really true that without luck success is impossible? With Tom Corley

[Podcast] Is it really true that without luck success is impossible? With Tom Corley
View all Michael Yardney Podcast episodes and subscribe via your favourite player:

While we usually spend a lot of time talking about property in the Michael Yardney Podcast, we also talk about success and money because these are all interrelated.

Today we're going to explore the habits that drive exceptional individuals forward with Tom Corley, my co-author of our internationally best-selling book Rich Habits Poor Habits. My Podcast #456 Tom Corley 02

And we'll be taking a closer look at one of Tom's thought-provoking blog posts where he said "Without Luck, Success is Impossible: therefore, the only formula that works is the formula that creates luck.

And he goes on to say, “Here is that formula."

Outliers and creating luck

My guest today is my good friend Tom Corley who is a best-selling author, speaker and expert in the field of financial success.

Tom has dedicated years of his life to studying the habits and mindsets of wealthy individuals, and he's here to share his insights with us.

In this episode, we'll be discussing two of Tom's thought-provoking blog posts.

We'll dive deep into the world of outliers—those extraordinary individuals who defy the odds and make a significant impact in their fields.

We'll also explore the role that luck plays in achieving success and learn how we can increase our own chances of "creating" luck.

Without luck, success is impossible

Creating luck boils down to doing specific things that increase your chances for luck to occur.

  • Step #1 Pursue a Dream
  • Step #2 Create Specific Goals Around That Dream
  • Step #3 Define All of the Goals You Must Achieve in Order to Realize Your Dream
  • Step #4 Take Repetitive Daily Action Around Each Individual Goal
    • Eventually, Those Actions Will Become Habit
  • Step #5 Engage in Those Daily Habits Forever
  • Step #6 Wait for That Lucky Break

None of the success formulas in the world will produce success unless the formula provides you with specific action steps you need to take to create Luck.

That is why I focus so intensely on habits. Because habits are repetitive, good daily habits mathematically increased the opportunity for good luck to occur.


There are Experts and then there are Outliers.


  • Spend years learning an industry or a skillset. Expert
  • Follow processes and procedures handed down to them by previous experts.
  • Know what works and what doesn’t work.


  • Start out as Non-Experts.
  • Don’t know what they don’t know.
  • Pursue avenues Experts would never pursue.
    • Wandering
    • Taking contrarian paths

This is why almost every revolutionary discovery is made by some Outlier.

Revolutionary Outliers who were derided by the “Experts”:

  • Leonardo da Vinci: painter, sculptor, and doctor who made many discoveries about the human body. Though da Vinci died in 1519, these discoveries were not verified until 1968.
  • Benjamin Franklin: printer and politician who discovered that lightning and electricity are the same things.
  • Charles Darwin: theologian who defied the experts and the church by postulating the theory of evolution.
  • Nicola Tesla: inventor who discovered that electricity is omnipresent and built a device to transmit electricity wirelessly.
  • Thomas Edison: inventor who was the first to control the flow and distribution of electricity. 11045112_l
  • Albert Einstein: a physicist who discovered his theory of relativity while daydreaming on his way to work.
  • Henry Ford: industrialist who revolutionized car manufacturing with the assembly line.
  • Richard Branson: businessman who revolutionized the music industry with the Virgin Records label.
  • Steve Jobs: was a businessman who revolutionized the personal computer industry with Apple.
  • Elon Musk: businessman who revolutionized the rocket manufacturing industry with SpaceX.

Outliers must have a very thick skin to suffer the slings and arrows of “Experts”, until they prove the “Experts” wrong and, in the process, wind up changing the world.

Links and Resources:

Michael Yardney

Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us

Tom Corley’s blog

Get your copy of Rich Habits, Poor Habits here- www.RichHabitsPoorHabits.com

Some of our favourite quotes from the show:

“You can put yourself in the position that luck happens.” – Michael Yardney

“There was a lot of hard work and daily routine that was put into place to make that luck.” –Michael Yardney

“It’s interesting how these habits of successful people are universal. They’re international.” –Michael Yardney


Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how


Subscribe & don’t miss a single episode of Michael Yardney’s podcast

Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.

Need help listening to Michael Yardney’s podcast from your phone or tablet?

We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.


Prefer to subscribe via email?

Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.


Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and one of Australia's 50 most influential Thought Leaders. His opinions are regularly featured in the media.

No comments
Copyright © 2024 Michael Yardney’s Property Investment Update Important Information
Content Marketing by GridConcepts