Take a Chance!: 101 Entrepreneurial Lessons for Making It Big

Magnus Carlsen was born in 1990 and went on to become the best chess player of all time. He was a five-time world chess champion. And then he decided to take time off to pursue Texas Hold‘em, and if he is as passionate about poker as chess, he will become one of poker’s best players. His passion drove him to the top of chess. You too need to have t

You’re never going to spot an opportunity, trend, or fad sitting at home or in your office. If you are selling a product, visit as many stores as possible that sell your type of product. If you invented a home improvement product, where are you going to sell it? ACE, True Value, Lowe’s, Home Depot, Menard’s, Tractor Supply, or Amazon? Think about w

We always want to know what the latest restaurant is and to check it out. Why? Human behavior. Humans love new things. What do the most successful restaurants offer their guests? Daily specials. Why? Because those are chef recommendations. When it comes to your business, think like a restauranter: How can you make your product or service stand out

Chaos is normalcy for an entrepreneur. Successful entrepreneurs handle chaos like any other problem: They take the time to figure it out. Don’t react to chaos instantly and, especially, don’t raise your voice in front of employees or customers. When possible, address chaos the following morning. It is amazing how time is sometimes the best solution

Mediocrity never wins first place. Your product or service has to stand out from the competition. Here are some ideas you can use: color, font, graphics, packaging, endorsements, certifications, ingredient(s), size, and price point. Like beauty manufacturers, decide if your product is mass, masstige, or prestige.

you are a new entrepreneur and hiring your first few employees, read as many books on the subject as possible. Do your due diligence including background checks. Just as important, share your vision with the applicants and sense if they appreciate your vision. If they do, have them write on a piece of paper why they want to work for you. You want n

Whether it’s a plan-o-gram, new product, or service, be flexible in the developmental stages so you can react quickly to market conditions and make changes without much risk to yourself. For example, if you are launching a new lip plumper, always buy the smallest quantity and pay more per piece. This limits your risks and allows you to make changes

The difference between winning and losing can be less than half a second or being able to hold on one minute longer. Winners never quit. Thomas Edison failed more than a thousand times before he eventually invented the light bulb. He never gave up.

When it comes to research, others are not you. They don’t have the same entrepreneurial mind to know what to look for. The more questions you ask, the more answers you receive.