I talk a lot about education because I think a good college education can really take you far in life. At the same time, however, some people are incredibly book smart but are clueless when they deal with the real world. Others are street smart but can’t handle anything other than what they’re accustomed to.

A couple seasons ago, we based an entire season of The Apprentice on this premise, pitting highly educated candidates against those with less formal schooling. In the end, we discovered that the key to success was experience, not education. Experience comes from action - or doing - and involves taking risks.

Knowledge is essential, but knowledge alone certainly isn’t enough. You must be able to act on your knowledge. You must put it to work because doing is how you learn and how you ultimately prove yourself.

I’ve certainly taken a lot of risks and not all of them were rousing successes. Few things worth doing are risk-free, so prepare to take chances. Don’t always play it safe, but do try to minimize danger and be aware of what you could lose. Often, the risk will be worth the gamble, but sometimes it’ll be more than you can afford.

Don’t underestimate anything until you try it. You need hands-on involvement to understand anything - whether a task or an entire business operation - to know the problems you’ll face. You have to gain experience, and that only comes from actually doing - and doing often.



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