• Rules from the BABY’s Book on Becoming a Billionaire
  
  

  • Rule #88: More money is lost through neurotic behavior than through bad business decisions.

  • Rule #119: The initial offer you make for anything is like the porridge for the three bears. It needs to be not too low, not too high, but just right.

• The new L-Pod? This week’s “I wish I’d thought of that idea” ideas shed light on the future of LED technology in brightening our world.

• Paving the way. As a “product of the streets,” Peter Shea admits he’s had more failures than successes, but fortunately, his successes have been BIGGER than his failures.

• Schedule your annual exam: Serial entrepreneur, Ty Freyvogel, encourages entrepreneurs to keep their businesses healthy by checking their strategies and systems periodically; afterall, things change as businesses “grow up.”

• Visit the concession stand. Successful negotiation is not all about “win-win”—learning to make little concessions is a powerful tool.

Peter Shea is the CEO of Entrepreneur magazine, one of the most successful business magazines for business owners. Before purchasing the magazine out of bankruptcy in 1986, he created, built and sold a number of businesses. Shea describes himself as a product of the streets and never continued his education past high school. Because of this, he realized that he was unemployable and that he had to take control of his life. In his career, he has been a police officer, photocopy machine salesman, land developer and owner of Stained Glass Overlay which had a patented method of creating the look of cut glass out of a solid piece. Shea built this into a company with 400 franchises in 29 countries.

Ty Freyvogel is a serial entrepreneur who has launched and grown numerous successful small businesses over the course of a 35-year career. He started his first venture in 1975 following graduation from college and a stint as an officer in the United States Army. Before the breakup of the AT&T monopoly in the mid-1970s, he saw the potential for growth in the telecommunications market and launched a consulting firm to provide client businesses with communication services. Today, 33 years later, the consulting firm (now called Freyvogel Communications) is still serving the telecommunications needs of Fortune 500 and mid-sized businesses. Freyvogel is the author of It's Not Your Smarts, It's Your Schmooze and Seize the Century!, as well as an advice guru on his new website, EntrepreneursLab.com