Lucky or Smart?: Secrets to an Entrepreneurial Life [Hardcover]

Bo Peabody (Author)

Book Description

Publication Date: December 28, 2004

At twenty-seven, Bo Peabody was an Internet multi-millionaire. In the heady days of the late 1990s, though, when every cool kid had an IPO, that wasn’t very remarkable. What is remarkable is that he’s even more successful today. He has co-founded five different companies, in varied industries, and made them thrive during the best and worst of economic times. Through it all, the one question everyone asks is: Was it his smarts that made him an entrepreneurial leader, or was it just plain luck? The truth is, Bo was smart enough to know when he was getting lucky. And he wants you to have the same advantage.

With proven methods for success and a witty, conversational voice, Bo takes the reader through the lessons his experiences as an entrepreneur have taught him. At the heart of Bo’s manifesto is a mantra that everyone, whether working for a multinational corporation or a solo start-up, should heed: If you want your business to be successful, make sure your work is fundamentally innovative, morally compelling, and philosophically positive.

Lucky or Smart? will teach you how to put yourself in a position to get lucky, create the right situations for success, and take advantage of every opportunity. It is the first truly authentic guide to an entrepreneurial life, a must read for anyone looking for his or her own road to fulfillment.

Editorial Reviews

From Publishers Weekly

For anyone looking to spend an hour or so conversing one-on-one with a successful Internet entrepreneur, Peabody has put his end of that conversation in writing. As founder of a startup, Tripod, Inc.—and a reaper of pre-Internet Bubble riches—Peabody graciously provides his thoughts on how and why he’s been so successful. Heartfelt and conversational in tone, his is a very thin book, reflecting both a lack of ego—Peabody will never be mistaken for Donald Trump—and his belief that entrepreneurs possess limited attention spans. Also, he feels they are better off spending their time building their own businesses rather than reading about others’. While Peabody shares advice on avoiding the mistakes that trip up many would-be entrepreneurs—such as having too much faith in their own press—most of his several dozen pages are spent providing examples of the role luck plays in success, and how smart entrepreneurs work to improve their odds. For instance, he puts great stock in surrounding oneself with ‘A’ students for managers while relying heavily on ‘B’ students to drive innovation. With their penchant for provocative declaration—i.e., that a company’s mission is more important than its business model—Peabody’s theories on management aren’t exactly the stuff of a business school curriculum. Which is only appropriate since he also takes a very dim view of the notion that entrepreneurial skills can be taught or acquired. Peabody believes that entrepreneurship is an aptitude one either possesses from birth or never possesses at all. Ultimately, Peabody speaks to a niche market—entrepreneurs willing to accept that there are no magical formulas for success, just the kind of focus, drive and energy that, if one is lucky, occurs at the right time, in the right place.
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

From Booklist

Peabody, a successful entrepreneur, offers a guide to those thinking of starting their own business. We learn that while we cannot create luck in our everyday lives, we can create it in business. Lucky things happen to entrepreneurs who start fundamentally innovative, morally compelling, and philosophically positive companies, creating something interesting and valuable rather than strictly seeking money. A mission communicated with charisma and passion will attract and inspire smart people who work hard; in that environment, the entrepreneur must be smart enough to stay out of the way and let luck happen. Treat other people fairly and give them clear action plans and latitude to exercise creativity. Other advice from the author: control your ego, always remain gracious no matter what the situation, and B students become entrepreneurs while A students become managers. This small book is a terrific roadmap for prospective entrepreneurs as well as corporate executives who want to replicate the spirit and creativity found in successful new ventures. A great read. Mary Whaley
Copyright © American Library Association. All rights reserved

See all Editorial Reviews

Product Details

• Hardcover: 80 pages
• Publisher: Random House (December 28, 2004)
• Language: English
• ISBN-10: 140006290X
• ISBN-13: 978-1400062904
• Product Dimensions: 7.9 x 5.2 x 0.8 inches
• Shipping Weight: 6.4 ounces
• Average Customer Review: 4.2 out of 5 stars  See all reviews (31 customer reviews)
• Amazon Best Sellers Rank: #535,686 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

36 of 40 people found the following review helpful:

1.0 out of 5 stars Do not buy this book, May 29, 2006

By 

D. Kidd "DK" (Chicago, IL) - See all my reviews
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This review is from: Lucky or Smart?: Secrets to an Entrepreneurial Life (Hardcover)

I read Lucky or Smart after receiving a recommendation from a very creditable source. However, it was a great disappointment, and in my opinion, a waste of money. $13.95 (as per the inside cover of the book) for 58 pages that delivered little value.

Bo Peabody may himself be both lucky and smart for founding and selling a low revenue-no profit generating internet company during the internet bubble; I hope you are lucky enough to read this review and then smart enough to avoid purchasing his book. My brief summary of the lessons from the book follows:

Chapter 1: Start a company that is innovative, morally compelling and philosophically positive; this will attract smart, motivated people that will do great things because they are smart and motivated (Enron aside)
Chapter 2: you are born an entrepreneur or a manager - accept who you are because you cannot change
Chapter 3: entrepreneurs are B students, managers are A students - unfortunately I was a B student in high school and an A student in college, something the author does not address
Chapter 4: strive to be good enough to survive; if you do you will be bought by a company that can make you great; but don't be great on your own or you will not survive
Chapter 5: have faith
Chapter 6: don't take no for an answer
Chapter 7: entrepreneurs don't have power - "get used to it"
Chapter 8: stay calm and be gracious in difficult situations
Chapter 9: read the WSJ daily, the NY times on Sunday and pick one other reputable weekly or monthly business magazine - and don't read any other form of press
Chapter 10: always sell
Chapter 11: know what you don't know

after reading the above there is no reason for you to purchase the book unless you want to know more about Bo Peabody or the companies he founded. That is all there is, except for a number of tangentially related stories that involve Bo and his limited experiences in the business world (I say this because he was in his early thirties when this book was written).

Instead of reading Lucky or Smart I would highly recommend the Richest Man in Babylon or Rich Dad Poor Dad.

12 of 13 people found the following review helpful:

5.0 out of 5 stars Good weekend reading, January 9, 2005

By 

Alex Krooglik (Cleveland, OH USA) - See all my reviews
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This review is from: Lucky or Smart?: Secrets to an Entrepreneurial Life (Hardcover)

I enjoy reading stories about entrepreneurs and the (sometimes) crazy stuff they do. Bo Peabody is a crazy and, might I add, highly entertaining, entrepreneur. Bo made wads of cash selling his internet company Tripod at the height of the bubble. He was in his mid 20s.

"Lucky or Smart" is a small book, in length no greater than a weekend NY Times magazine article. The tone is positive, irreverant, and homely. There is some classic diatribe. For example, in talking about the corrosive effects of Blackberry's on the concentration span of executives nowadays, he recommends that smart entrepreneurs send them to competitors to rob them of their power of thought (p45). Sad but very likely true.

Bo sees the business world as made up of A-students and B-students, the former being primarily managers, the latter entrepreneurs. Each plays a very important role in a new venture. There is a symbiotic relationship between the two, with the B-students pushing the envelope, selling, and ignoring accepted wisdom in search of new frontiers, while the A-students refine and focus based on the view in the rear-view mirror.

There isn't a lot in the way of inspiration or guidance but Bo shows us that you can be lucky or you can be smart, and a truly smart person realizes when she's getting lucky and capitalizes on it.

If you enjoyed "Dot Con" by John Cassidy, "Dot Bomb" by J. David Kuo, or "A Good Hard Kick in the Ass" by Rob Adams, you might enjoy Bo's book.

9 of 11 people found the following review helpful:

5.0 out of 5 stars Will be a classic "Little Book", January 11, 2005

By 

Ray Salemi (Framingham, MA USA) - See all my reviews
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This review is from: Lucky or Smart?: Secrets to an Entrepreneurial Life (Hardcover)

It seems that whenever you are looking for deep insights into some aspect of business someone will say, "There is this great little book called ..."

"Think and Grow Rich", "Richest Man in Babylon", and the "One Minute Manager" all fall into the category of "A great little book..."

The beauty of little books is that the author has managed to buck the economics of publishing (which values books by page count and size) and has focused clearly on one topic. This clarity is priceless and hard to find.

Bo Peabody has created another in a list of "Great little books..." He clearly paints a picture of the kind of person who should be an entrepreneur and the things that person needs to focus on and learn.

The book makes its points well and has compelling stories that illustrate the ideas. It has a frank view of the mystique of the entrepreneur and the way that ego can destroy our companies.

It's a great little book!