What makes someone successful? Jim approaches this questions from a different angel then most people. A lot of people think that what you need to be successful is a whole lot of education, or you need capital, or you need to know the right people. But there is one thing that matters more than everything else put together, and that is character. This includes things like hard work, like having a passion for customers, being a person of your word. In business, overwhelmingly, people who stick to their word and are honest and reliable, do much better than those who don’t. And most importantly, the ability to cope with disappointments, to cope with hard times. Jim Penman tells us a story of a study that was done with three separate groups of entrepreneurs.

One group was given no training, another business training and the other was only character training, like how to cope with disappointments. Between the first and second group, there was no difference at all. All the business training made no difference to their success. But training in character made a dramatic difference, their profits went up by 40%, they were more creative and more successful. Character is everything. When Jim looks for an employee, he looks for experience over qualifications, and character over everything. Character is number one.