An entrepreneur, or anybody who wants to succeed for that matter should welcome challenges. Here is a quote from Winston Churchill after he was appointed prime minister of Great Britain in June 10, 1940.

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At least, I had authority to give directions over the whole scene. I felt as if I were walking with destiny, and that all of my past life had been but a preparation for this hour and for this trial.

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Here are some very worthwhile insights from the Richard Tedlow book and worth thinking and pondering about.

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We must remember that business people, or capitalists are people who make bets on the future. The essence of capitalism is a phychological orientation toward the pursuit of future wealth and prosperity.” If there is any too much emphasis on this blog for instance, about preparing for a future, businesses is about the future.

- We must note that in essence, there are always business principles that are touted, but at the end, knowing and understanding business and its principles can be as much as a fad. In fact, ”

There is no other field of hyuman activity - including entertainment, sports, high fashion, or politics — which is so riddled by fads as business. Every day, there is a newspaper headline, every week there is a magazine story, and perhaps with the Internet, we will soon be saying every hour there is yet another “guru” that touts a new hero of business or a new method of solving pyblems….

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-We must note that

we should have the courage to change not only when things are going badly, but and this is more difficult — also when things are going well …”

I am currently going over a book entitled, ” Giants of Enterprise, Seven Business Innovators and the Empires They Built.” This is a business biography of Andrew Carnegie, , George Eastman, Charles Revson, Robert Noyce, Sam Walton, and Henry Ford. But more than just a mere enumeration of positions and accomplishments, the author, Richard Tedlow, went his way to explain business decisions and also analyze their impacts on the individual businesses and also to the economy. It is a worthwhile read, and it was called by BusinessWeek as one of the top ten business books of 2001. I may be quoting and sharing some insights of it in the next few days from it.