11. What Role Does Luck Play In All This?

The most successful companies were not luckier than their competitors, Collins said. Instead, they were able to deliver a higher return on the luck they did receive.

The most successful leaders see running a business as a series of hands rather than a single hand, and are focused on playing each to the best of their ability without ever leaving the table.

In fact, Collins said half of great leadership comes down to what people do with the unexpected.

"We cannot control or predict every hand we get dealt in life," Collins said. "But true creators stay in the game."