I’ve been thinking of what predetermines the success of an entrepreneur, and believe it is not right to single out any one thing, but the key to success is in combining the following three:
Sir Francis Bacon said “knowledge is power”. For a modern-day entrepreneur it is not only power, but also the source of power. Continuous self-education is the key to outdoing the competition.
Experience is an interesting thing. It is both essential for becoming a true “practitioner” (and not a “theorist” only); and it’s even possible to achieve success being guided by experience only. At the same time, it is important to realize that it is unrealistic to stay successful if it is experience only that one is relying on. It must be combined with knowledge and. . .
No entrepreneur can succeed without intiution. It is my firm belief. Einstein is known for saying that the “only real valuable thing is intuition.” Intuition is greatly valuable not only for scientists, and even more so for businessmen/entrepreneurs.