The Lemonade Principle


Surprises happen all the time, especially when you’re launching a new company. Imagine you’re opening a new hotel, and you’re having an ice-sculpting contest for the tourists, but warm weather turns everything into a puddle! What would you do with that lemon? Surprises can be pleasant or unpleasant, positive or negative. Most of the time, …

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The Bird-in-Hand Principle


How do you start a company? Do you start it with a GREAT IDEA? Experienced entrepreneurs START with WHAT THEY HAVE. How do we know this? Professor Saras Sarasvathy, who teaches at The University of Virginia Darden School of Business, has studied successful entrepreneurs. She has learned how they think and how they make decisions. …

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