It's a great video, but I really think there are four factors for entrepreneurial success. Hard work, good judgement, luck and appetite for risk. You really have to have all four, even just 3 in large measure is almost a guarantee of failure in startup land.

* With lack of hard work you just won't beat out harder working rivals.

* With poor judgement all that hard work will be going in the wrong direction.

* Without luck your timing or connections with the right collaborators might never work out.

* Without an appetite for risk you'll stick to the tried and true path and never truly innovate or take advantage of rare opportunities.