It is said that “the past is often the prologue of the future.” Handy phrases such as these help guide us in our endeavors, but accepting such truisms with blinders on is a recipe for disaster. Just as one business model or technology trumps another, so too do the proverbs of life. For instance, how can the past often be “the prologue of the future” when “the only constant is change”? The truisms of our day can take you down many blind alleys. Education presents a double-edged sword to those seeking knowledge. Certainly we can expedite the process of learning the laws of nature, scientific methods, business tools and the arts. However, in the process of learning more and more about less and less, we can find a home for arrogance and in its worst case, failure. Building a business in a mature industry is not for the faint of heart. The onslaught of competition is ceaseless from countries possessing real comparative advantages. But in the end, a mix of education, practical experience, courage, and maybe a little humility, can lead to surprising results, such as success. Perhaps this mix, along with some other ingredients, defines our “entrepreneurial spirit.” Either way, there is probably no better time for the entrepreneurial spirit to flourish in the global economy.