Success rarely comes easy. Americans say that to climb the ladder of achievement, you need to have four factors working for you.
Recently, Empower asked 2,203 American adults who participated in the firm’s latest “Secret to Success” survey to list the factors that help people become successful.
The respondents cited the following “factor of four” things that contribute to success. In addition, they also listed four barriers that can keep people from reaching their goals.
1. Hard work
Survey respondents who cited this factor in success: 84%
Trends and fashions come and go, but hard work never goes out of style.
While it’s probably true that some people succeed through sheer luck, the vast majority of folks earn their good fortune by putting in long hours and saving and investing wisely.
2. Talent
Survey respondents who cited this factor in success: 65%
Talent probably is not a prerequisite for success: Hard work and good savings habits arguably count for more.
But being talented in the right way can make succeeding a lot easier. The marketplace tends to reward those who are exceptionally good at a specific task.
3. Who you know
Survey respondents who cited this factor in success: 55%
Much of life — and success — is about relationships. The people you know can open doors that you didn’t even realize existed.
For tips on connecting with others, check out “How to Grow Your Professional Network and Keep It Going Strong.”
4. Luck and circumstance
Survey respondents who cited this factor in success: 51%
Luck probably plays a greater role in success than many of us would care to admit. Being at the right place at the right time can propel you toward achievement.
While good fortune is undoubtedly a factor in accomplishing big things, it is a mistake to assume that luck is the prime factor in success. Work hard and hone your skills, and you may very well succeed even if you encounter a run of a bad luck.
Barriers to financial success
In addition to understanding the factors that promote success, it’s just as important to account for the barriers that can prevent you from reaching your dreams.
According to the survey respondents, these are the biggest barriers to financial success:
- The economy: 35%
- Income instability: 30%
- Not setting clear financial goals: 28%
- Procrastination or delaying financial planning or decision-making: 26%
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