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Is Successful Entrepreneurship more about SKILL or LUCK?

It seems like it's all luck. Seems like some of the most small-minded, juvenile business decisions made people rich. http://weirdtechnewshub.blogspot.com/2006/07/top-10-dumbest-online-business-ideas.html "Doggles?" Goggles for Dogs? Someone got rich selling that???? Colonel Sanders, founder of KFC, struggled his whole life and didn't make it big until after he became a senior citizen. If his money had anything to do with skill, wouldn't he have gotten rich much younger? It seems like the market RANDOMLY dictates who becomes rich. Just absolutely Random.

Public Comments

1. Don't quit your day-job.
2. I think it's a little bit of both. But family connections and money are the most decisive factors in a capitalist economy Hope this helps
3. Actually, Col Sanders never became all that rich even after a big corporation bought the license from the investors who had paid Harlan Sanders $1M plus an annual $40K salary. Also, although he wasn't young (40) when he stumbled on the idea-mix of pressure-cooking and just-the-right seasoning for his chicken, he was able to virtually retire at a normal age and just travel around being a KFC spokesman right up to his death. There's always a LOT of luck involved in success, but there is also wisdom in the old adage that luck favors the prepared man (or woman). The "trick" is figuring out a NEED that people are willing to pay money for (directly or indirectly) and having the courage to try to make it happen - risks may fail but they also succeed in big ways. It is in this latter phase that "chance" enters the picture but business success is virtually never "random."