Principles of Building Entrepreneurial Success

The Bucket Principles

Wisdom for Today

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  • The fist-hit principle suggests there is a time warp in the ultimate achievement of entrepreneurial success. In other words, success usually does not come overnight. This principle works in conjunction with the bucket principle, which suggests that the time warp of success carries with it an opportunity or “bucket” with a cumulative requirement that must be met.
  • You as an entrepreneur have a “bucket” that you must fill to overflowing before you will see any significant returns from your investment or labor. Fill your bucket with the same things that that makes up the investment curve-time, talent, and treasure. You’re only actions will be to add to or take from the bucket.
  • Unfortunately, in America, some entrepreneurs are saddled with oversized buckets because of color, gender, socioeconomic status, or age. Consequently, an African American woman from the housing projects who may be of senior age has a gigantic barrel to fill. While a white male from upper-middle-class roots who has just finished his MBA may have a teacup to fill.
  • There is a silver lining: Although some may have larger buckets to fill than others, the reality is than you can never get more out of bucket than you than you put in. therefore, even though the African American woman is forced to spend more time filling her bucket, if she can stay in the race and endure to the end, her reward will flow like a mighty stream. People will be amazed at her performance, though they may have difficulty understanding the obstacles she had to overcome and the power she gained by being able to persevere.

Wallace, R. (2000), Soul Food 52 Principles for Black Entrepreneurial Success, New York: Perseus Publishing    

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