There are a lot of ways to get the necessary tools and skills to be successful in the business world – higher education, internships, mentoring and on-the-job training. Perhaps most important, though, is the school of hard knocks, better known as life. Life experiences provide a wealth of knowledge and training that can be directly applied to business activity in order to make better decisions for both personal advancement and the success of the business.

Life, by its fundamental nature, is full of ups and downs, good times and bad. All of the positives and negatives are chances to learn something new and, as an entrepreneur looking to break into any industry, you have to be ready to face a roller coaster of emotions and activity that will result in some days being productive and others bringing setbacks. Only those that have been able to learn how to overcome adversity in life can find true success in a business environment.

At the core of establishing any type of business or venture is the ability to solve problems. When a difficult position presents itself, it’s time to choose one of two paths – the one that lets the problem dictate the solution or the one where you dictate the solution to the problem. Life experiences inherently include the need to make decisions and that decision-making capability will be a strong asset in the business.

Most people find themselves, at some point in their lives, having to take risks. It could be getting on stage in front of a group of people or getting behind the wheel of a car for the first time. As an entrepreneur, you have to be willing to take risks to find success, as you’re often stepping into the unknown. Once you make that decision, you have to be prepared to stay committed and see it through until the end.