| What is your definition of the word "luck", not the | | | | the accused executives knew anything about what |
| Webster's Dictionary definition, your definition? Is it | | | | was going on (they claim) inside their businesses while |
| being in the right place at the right time? Picking the | | | | they were taking tens of millions of dollars in annual |
| right dealer in a casino? Turning up at a party where | | | | compensation. Responsibility is an endangered quality in |
| you meet your current wife (could be good or bad | | | | a modern world that has embraced the psycho-babble |
| luck)?Entrepreneurs seem to be so lucky, so often. | | | | of endless victimology!If I was the Earth Czar, and |
| People see their success and attribute much of their | | | | could re-engineer one physical feature of the human |
| good fortune to luck. What luck that they thought the | | | | body, it would be this: the palm of every human being's |
| idea would work. The luck of the Irish for old Doyle, | | | | left hand would have a small mirror permanently |
| don't you think? It was his great good luck to file that | | | | attached. And everyday, several times per day, we |
| patent when he did.The passengers in life attribute so | | | | could look at the mirror and see the reflection of a |
| much of fate and successful outcomes to random | | | | man, or a mouse. Successful people, including every |
| luck. "Lightning strikes for others, just never me," is a | | | | fine entrepreneur I have ever known, assume full |
| bromide that covers the view of people that are | | | | responsibility for every decision that they take. The |
| perpetually success challenged. The masses that think | | | | assignment of blame on another person, or an outside |
| like this can not see, or comprehend, that luck has little | | | | condition is a diversion.As human beings we have the |
| to do with achieving real success as an entrepreneur.In | | | | unique ability to make choices, free will and the ability |
| business, luck is created. Luck generally evolves from | | | | to reason. These tools are denied every other form of |
| capitalizing on a risk taken. Entrepreneurs are not | | | | life. A lion or a fruit fly operates solely on a |
| passengers: they are drivers. The drive to succeed | | | | pre-programmed set of instincts. A lion is nor |
| and overcome obstacles inherent in attempting to | | | | responsible for what it kills. It is on earth to kill. However, |
| create any new business requires drive, courage, and | | | | if a person kills, they are solely |
| passion. Not luck!This is not to say that luck never | | | | responsible.Entrepreneurs assume full responsibility for |
| occurs and is not appreciated. It does occur and it is | | | | their success, and failure. The luck so many would |
| appreciated. However, when luck rears its happy face | | | | subscribe to a successful entrepreneur is actually a |
| it is usually the confluence of hard work bumping into | | | | manifestation of the ability to make reasoned decisions |
| opportunity! If an entrepreneur accidentally bumps into | | | | and abide the consequences of those |
| a funding source while enjoying a latte tomorrow | | | | choices.PerseveranceImagine a boy, dreaming of |
| morning at Starbucks, is this luck or the result of a | | | | playing and starring at professional football, and |
| business proposition that is properly seasoned?My | | | | suffering 10 years of indignity, disappointment and |
| experience is that entrepreneurs create luck by stirring | | | | failure in trying to achieve this goal. After an average |
| a unique brew of personal qualities. Some or all of the | | | | high school career, playing in a rural town with no |
| following traits are obvious, in every success from the | | | | exposure, he is not offered a single scholarship to a |
| Wright Brothers to Mary Kay Ash. These qualities are | | | | Division-1 NCAA school. He plays for four, largely |
| the true ingredients required that make luck | | | | undistinguished years at a small school in Iowa. After |
| occur.ConfidenceEvery entrepreneur is perpetually | | | | graduating, the National Football League does not draft |
| afraid. The fear of failure is palpable. They can not | | | | him and he is not offered a free agent tryout. He goes |
| stand the thought of failure and will do anything | | | | to work in a super market and catches on with an |
| possible to avoid it. The need to succeed is | | | | Arena Football League team. The pay per game is |
| demonstrated in a confidence that they develop in their | | | | $400.Interestingly, his growing success in the Arena |
| novel product, their ultimate success, and the benefits | | | | Football League over several seasons makes his |
| their product will produce for consumers. Confidence | | | | name at least a point of conversation in one NFL |
| smothers fear. Fear creates inertia. Failures are | | | | office. He is scouted, thought to be a bit too old but |
| always afraid, to try, to fail, to be criticized. The | | | | maybe worth a test in NFL Europe. After one very |
| confidence necessary to succeed in a brutal | | | | successful season in Europe, he is invited to a NFL |
| marketplace is earned through hard work, study, | | | | training camp. As camp began, he was listed as the |
| preparedness and finding answers to obstacles.We all | | | | fifth quarterback on the team's depth chart. An injury |
| have doubts. However, successful entrepreneurs | | | | to a quarterback, then another quarterback injury, and |
| overcome fear and doubt and grow in confidence as | | | | now third on the depth chart, he has realized his |
| they master their task. The confidence earned is a | | | | dream. He is signed to a contract.Now the tale could |
| great key to attainment of success. There is no luck | | | | end here. He is a real NFL quarterback. Goal achieved. |
| involved.Learn From MistakesMy first sales manager | | | | However, our struggling quarterback has persisted and |
| had only three basic bits of wisdom for a youngster | | | | now that he has made a team he wants to play, and |
| starting out on a sales career:1. Make all of the | | | | knows, really knows that he will be a star if given a |
| mistakes you must, once!2. Study and learn from each | | | | chance. It takes another season, a few more injuries |
| mistake you make!3. If you are torn between choices, | | | | and he gets his shot. At the age of 28 he leads his |
| and face a choice that might lead to a mistake, make | | | | team to a Super Bowl championship, is the league |
| the most aggressive choice!Everybody makes | | | | Most Valuable Player, is named All Pro and signs a |
| mistakes. Coca-Cola brought out New Coke and | | | | multi-million dollar contract.Kurt Warner, our quarterback, |
| almost murdered a world famous brand. Merck was | | | | is the most unlikely of football successes. Every |
| seriously harmed by the failure of the prescription drug | | | | college team, every scout and every professional |
| Vioxx. What was the Ford Motor Car Co. thinking in | | | | team missed on him. In a sport where players are |
| 1958 when the Edsel was introduced? There was the | | | | computer rated, graded, tested, weighed, timed, |
| matter of a President of the United States and an | | | | quizzed and probed from high school onward not one |
| intern. Pete Rose has lost his almost certain place in | | | | assessment rated him a player of potential. And yet, |
| the Baseball Hall of Fame over gambling.The key is not | | | | he is one of the best players in professional |
| the mistake, but learning from and not repeating the | | | | football.Perseverance can not be taught. Some people |
| mistake. The only way we avoid mistakes (almost | | | | quit at the first sign of trouble. Edison tested over 1000 |
| impossible in all but the most sedentary lives) is to | | | | versions of the light bulb before he perfected his |
| never try anything new. Entrepreneurs are always | | | | invention. Kurt Warner would not listen to the experts |
| going to try. The successful ones make aggressive | | | | telling to get on with his life's work and that work |
| mistakes, learn from their errors and this minimizes the | | | | would not include football. He made his own luck |
| probability of repeat errors.A baseball player is | | | | through work, sweat, sacrifice and |
| considered a star if a .300 batting average is achieved. | | | | perseverance.Geoff Ficke has been a serial |
| This means that failure is a result 70% of the times | | | | entrepreneur for almost 50 years. As a small boy, |
| they bat. Players hate to make outs. No one could | | | | earning his spending money doing odd jobs in the |
| succeed at baseball unless they seek and obtain a | | | | neighborhood, he learned the value of selling himself, |
| psychological comfort zone that enables them to filter | | | | offering service and value for money.After putting |
| and balance the mistakes in making outs and the | | | | himself through the University of Kentucky (B.A. |
| positives they learn from making a base hit. | | | | Broadcast Journalism, 1969) and serving in the United |
| After an out is made, players can not wait for their | | | | States Marine Corp, Mr. Ficke commenced a career in |
| next trip to the plate to get another chance. This is the | | | | the cosmetic industry. After rising to National Sales |
| way entrepreneurs think after a mistake is | | | | Manager for Vidal Sassoon Hair Care at age 28, he |
| made.ResponsibilityA Congressman drives while drunk, | | | | then launched a number of ventures, including Rubigo |
| crashes his car, hits a parked police vehicle and then | | | | Cosmetics, Parfums Pierre Wulff Paris, Le Bain |
| claims amnesia. Did the dog ever eat your homework? | | | | Couture and Fashion Fragrance.Mr. Ficke and his |
| The NBC television news magazine 20/20 has run | | | | consulting firm, Duquesa Marketing, Inc. ( has assisted |
| several shows showing men using the inter-net to | | | | businesses large and small, domestic and international, |
| organize meetings hoping to conclude a sexual | | | | entrepreneurs, inventors and students in new product |
| encounter with very young girls. The men, caught in the | | | | development, capital formation, licensing, marketing, |
| act, always deny intent, knowledge or responsibility. | | | | sales and business plans and successful |
| The top executives at Global Crossing, Enron and | | | | implementation of his customized strategies. He is a |
| Adelphia scandalously bankrupted their huge | | | | Senior Fellow at the Page Center for Entrepreneurial |
| businesses, costing thousands of employees their jobs | | | | Studies, Business School, Miami University, Oxford, |
| and pensions and millions of investors lost their | | | | Ohio. |
| investment in equity in these firms. And yet, none of | | | | |