The Product Makers' Lab Podcast

Spoken Memo #2: Just like ‘luck,’ innovation isn’t random. It comes to those who practice it.


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I’ve been listening to Dr. Mayim Bialik’s podcast this morning, in an episode where she interviews Deepak Chopra.

There was a line that Deepak said that really stood out to me: “Luck is where preparedness meets opportunity.”

In this part of the podcast, they were talking about how successful people—or those who deem themselves successful—often reflect on what led them to where they are. Many of them cite luck as a key factor in their journey toward their potential and purpose.

The point that I believe Deepak was making is really about preparedness—taking action and getting started. That immediately reminded me of innovation theory from David Teece, where he talks about the core competencies a business needs to be innovative. He emphasizes the ability to sense and seize opportunities, and that it is through the act of innovation that businesses develop the muscle and capability to recognize and take advantage of those opportunities when they arise.

I’m also reminded of something I first learned in design school—the idea of happy accidents. These moments of unexpected insight happen when you’re deep in the process, actively engaged in creating and problem-solving.

The reason I’m talking about this is because I’m passionate about spreading the idea that innovation begets innovation. It’s through doing the work—engaging in design thinking, experimenting, and iterating—that businesses build the capability to create real, breakthrough innovation.

I truly believe that when businesses come together to create—whether they have a clear agenda or not—it strengthens their ability to be innovative. Collaboration fuels creativity, and creativity fuels real breakthroughs.

So, hearing Deepak say that line this morning really resonated with me. It sums it all up:

Luck is the intersection of preparedness and opportunity.

And I’ll leave you with that.



This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit oliviaratten.substack.com
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The Product Makers' Lab PodcastBy Olivia Ratten