Many individuals and businesses have a difficult time figuring out why some people are successful and others aren’t, why some businesses are sailing through the recession without problems, while others are having many financial difficulties.

Believe it or not, success is more than luck alone. And a performance management strategy that encourages success is actually much easier to execute than rocket science.

3 Performance Management Factors that Influence Success

1. Preparing for Bad Luck

Professor Morten Hansen writes that good luck and bad luck are fairly evenly distributed in people’s lives. What really matters in terms of performance management success is how one deals with any given situation that confronts them. In order to best take any bad luck events in stride, Hansen recommends preparing for such events in advance by making it a common practice to leave a margin of error, such as extra time on a deadline, extra money in a budget, or extra time for flight connections. The most successful people and businesses, according to Hansen, tend to be those who are more prepared for extenuating circumstances, since they are able to handle situations more smoothly with the advantage of a margin of error. Indeed, it is easier to shift to Plan B when one is not in panic mode.

2. Taking Advantage of Good Luck

Hansen posits that it is equally important to recognize good luck when it comes along and take advantage of unique opportunities, even if it means changing your plans in order to do so. In terms of performance management, encouraging your employees and yourself to allow for flexibility each day is a great way to be ready to capitalize on lucky situations. In order to assess whether even the smallest thing is a bit of good luck to take advantage of, it is helpful to think about the bigger picture and long-term goals before getting caught up in details. The minor inconvenience of changing plans to follow a lucky lead may well be worth it in the long run.

3. Exuding Professional Presence

Even with all the good luck in the world, though, it is difficult to find success without also possessing a professional presence that demonstrates confidence and competence. For those who are lacking in this area, Joshua Ehrlich recommends getting increased awareness of one’s own body language and speech patterns. Strategies such as watching a video of yourself speaking publicly and interacting with coworkers can help you pinpoint problem areas in order to create a stronger professional presence. Minor changes in how you present yourself can make a large difference in your professional (and personal) success.