Entrepreneurial Success Linked to Practical Intelligence

This quote from the article, High Level of Practical Intelligence a Factor in Entrepreneurial Success:

ScienceDaily (2010-10-30) -- General intelligence is not enough. Practical intelligence can mean the difference between entrepreneurial success or failure. Psychologists have identified multiple kinds of intelligence, but a new study has found one -- practical intelligence -- to be an indicator of likely entrepreneurial success.

It is now believed that there are different types of intelligence and that the intelligence quotient, which is used as a likely indicator of academic success, does not necessarily correlate to success in other fields of endeavor. The article indicates that practical intelligence is revealed by an experimental hands-on style of learning. Knowledge is acquired by doing rather than through watching and reading. You can see the advantage of this approach for an entrepreneur. Business is a doing activity and if this is one's learning style then one can profit from business mistakes.

J. Robert Baum, who is the Director of Entrepreneurship Research at the University of Maryland, supplied information contained in the article. According to Baum, past experiences lead to practical intelligence. Acquired knowledge, when used effectively, can further a business enterprise.