Tycoonism “Information’s pretty thin stuff unless mixed with experience.”

With the barrage of information on the internet, television– mainly media, how are you able to decipher and sift through all the garbage and misinformation?  Although there are leading sites and so called experts on certain subjects, how do you determine who to follow and who to drop?

Clarence Day is right ofcourse, information is pretty thin stuff unless mixed with experience.  YOUR own experience makes sense when applied and put along side informative and helpful information.  Your own life experiences will shed light to information.  These information will not aid you if you fail to consider your own experiences.

For example, it is important to understand that the success of an entrepreneur is not measured by how much education he or personal achievements, but his years experience  should be considered as well.  An entrepreneur’s success is measured by years of experience, not words on a resume. By definition, an entrepreneur is a risk-taking businessperson: someone who sets up and finances new commercial enterprises to make a profit. Entrepreneurs start businesses. The smart ones then hire MBAs to run them. Let’s start with education. Is a Bachelor’s degree or better required to succeed in business? Of course not. An MBA from Harvard might give you a leg up in a job interview, but it certainly doesn’t guarantee that you will succeed in business. Nor does it automatically mean that you will be a better business person than someone who didn’t finish high school. Knowledge is a good thing – if you know what to do with it. Perhaps it is the academic environment itself that turns mere mortal nerds into budding entrepreneurs. The late ’90s proved that college students with no experience beyond organizing a frat keg party could start businesses that would exceed all expectations. Many would argue that the key to success for most of these ventures was that the founders were smart enough to know that while they had an abundance of education, they needed experienced managers to really run the show.

Now on to experience. Is experience a prerequisite of business success? Many experienced entrepreneurs gained their experience in failed businesses, so experience does not instantly translate to success. So, when it comes to succeeding in business, which is more important: education or experience? While neither is as helpful as a rich relative, here’s the answer that will hopefully help me avoid those worms: Both education and experience can play a large part in business success. Many successful businesses were started by first time entrepreneurs who never went to college. Natural talent, ambition, drive, determination, and good old dumb luck have fueled many successful entrepreneurs.

A combination of education and experience (and a variety of other things) is the best recipe for success. As the old saying goes, “There is no better education than that which comes from experience.”  In the end, it really doesn’t matter how much education, experience, talent, luck or money you have. It’s what you do with it that matters.

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