Help others, don't get caught in Pride

MASTERY: SKILL, CHARACTER, OR LUCK?

 Skills that lead to entrepreneurial success

skill, and particularly the ability to sell

have an engaging personalityThe ability to find good salespeople and manage a sales force.

Having a firm grasp of which numbers are important.

Knowing how to put together an assembly line or service delivery process.

Being able to communicate clearly.

Listening and questioning customers

Being a problem solver; thinking.

Being curious enough to uncover and unravel the strategies of competitors.

 having enthusiastic customers and a smoothly running operation

Character

Character trumps skill-Perseverance(never give up)a little talent and a lot of hard work are the foundation for learning any skill,

Basic curiosity 

 Fairness 

 Courage 

A relentless pursuit of opportunity

It takes 10,000 hours to master a skill. That’s three hours a day of practice, every day, for ten years. 

Luck

Luck is the difference between making a million dollars and ten million  It’s not the difference between success and failure. 

“You can be the luckiest person on earth,” another added, “but when luck comes to someone who is unprepared or lacking in character, or sees money as the most important thing in life, nothing good ever comes of it.”

Assets

Industry Expertise

which supplier to trust

 which customers would pay on time 

 how competitors would react to changes in demand or pricing

Good Business Judgment

knowing how to craft a pay and incentive system

 set up an accounting system

 establish a hiring funnel

 how to choose between raising debt or selling equity or simply slowing the growth rate so a company can finance its own growth from its free cash flows. 

Relationships and Reputation

 keep a promise

 act kindly toward another

or show character when times are tough

 Doing things right and doing the right thing build strong relationships

being honest and direct

going the extra mile

 word of mouth, build reputation.

Stay the Course

 Yes, these successful entrepreneurs had taken the time to master critical skills, usually in areas where they had raw talent. Character too had been important, especially perseverance and honesty. And luck had played a role, though most would have been financially secure without it, and some even felt that excess riches were more a burden than a blessing. So in the end, what made them different from others who hadn’t been as successful and fulfilled? They had stayed the course. Day after day; year after year.

Through trial and error, successful and failed decisions, they made tiny deposits of industry expertise, business knowledge, and trust which built a web of assets that made running a successful business much easier and served as a formidable barrier to competitors

Randy Komisar

Have portfolio of passions.  Marry this portfolio with the opportunities in front of you.  Think of it as a quest towards which you are moving in the right direction.

What are my values?  What do I care about?

What opportunities are available to me, or what opportunities can I make. 

Optimization- chose between right answers.  chose what feels good and then do them

you have 10 doors in front of you, your going to walk through 1, you'll have an immediate sense of lose because you lose the other 9 but then 10 new doors appear. 

Brian Carter
A Heroes journey- live every moment of your life like it really matters, because it does. you have an important mission. What matters most isn't the prize at the end but how the hero is changed in the process.  Learn to listen, ask questions, make my point trying not to be the smartest person in the room. Always keep asking questions.  Find great role models and ask them great questions. 
Questions you will ask at end of Life
Have I contributed something meaningful?-never give up your search for a calling, your special mission to use your God given gifts.   Ask 5 people you know well, what you do better then anyone else. Press for specifics and to give examples and evidence.  How do you find something that brings you great joy-think of the last time you lost track of time while doing something.  Find where your God given gifts intersect with what gives you Joy.  A calling must serve others it must matter to you.  What problem were you put on this earth to solve?
Was I a good person? Don't cross over your moral guardrails, I will not.  
Who did I love and who loved me? 
Surround yourself with good people, with good Character, you become who you surround yourself with. 

It's not about you, it's all about you.  Its not about your happiness, you'll have setbacks and battles. Using your gifts to help the world will change you.  On a Hero's journey you will give up comparing yourself to others there will always be someone richer, smarter, better looking etc. The stepping stones you set will be from you and lead you to gratitude.
Show gratitude and expect good things will happen to you.  People who belief they will be lucky turnout to be luckier.

Being rich is spending less then you make, so your time belongs to you. 
Failure you once so feared seen in reverse- love only makes you stronger.  Your greatest fear is waking up at 50 and realizing you've wasted life.
A wise person does it once, but a fool does it last.  Both do the same thing but at different times. 

Success  happens with perseverance instead of becoming discouraged when faced with challenges.

when talking to Ryan Kohler a successful entrepreneur he said to always find out what customers pains are (needs) and solve there problem for them.  Give them like a program to fix it no strings attached.  Then later see if they want to pay you to implement the solution for them.  Always listen to find out pains, needs, wants fix it for them.  Listen to customers, don't just design a product find out what product the customer needs.