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

Steve Jobs is that he didn’t invent anything from scratch. His genius was that he took someone else’s idea and made it better.

Entrepreneurs are always exposed to Chance cards. Unlike in Monopoly where the player must do what the card states, you have the choice to make. It is these choices that define success or failure. Seek advice from mentors and colleagues but make the final choice based on your gut instinct.

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.

The internet is great for research, but there is nothing better than seeing a product, concept, or new business in person. Whether you have to drive or fly, it is well worth the investment in time to experience inspiring ideas firsthand.

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

Never be a minority shareholder in a closed corporation.

college sets you on the learning path for the rest of your life. However, after those quick four years, it is up to you to continue the path. To this day, I am still learning. I spend thirty minutes daily on Duolingo learning Spanish, one hour learning chess, and read the Wall Street Journal, Barron’s and Detroit News daily.

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

Do one thing better than anyone else; side gigs can only get you in trouble.