NEW YORK (CBSNewYork) — What is the best advice for aspiring entrepreneurs? Don’t be afraid to take chances.

That was the consensus from the star panel of experts who came to CBS New York for a taping of the radio program GutwiZdom this past week.

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Hosts Deidre Koppelman and Jonathan Gassman brought the group together to tape their Saturday night show before a live audience in the Adorama Theater at CBS New York. GutwiZdom can be heard Saturdays from 7 to 8 p.m. on WCBS Newsradio 880. The show delivers valuable information about life, business and solutions to the problems that crop up in both worlds.

This week’s show was all about advice for aspiring entrepreneurs.

Laura Lorber, executive editor of the business site, talked about the need to take chances to be successful.

“You’ve got to have a lot of at bats to hit a home run” she told the WCBS crowd.

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Small Business expert Brian Moran said the best advice for those aspiring to small business success is develop a plan.

“The more you plan, the better your chances,” he said.

As for the definition of entrepreneur, Inc. Magazine’s Laura Lorber said it’s “people who cannot work for other people. They have to work for themselves. The need to call their own shots, make their own decision and be their own boss.”

Lorber and Moran were joined on the panel by award-winning record producer Tony Dofat, who made his name working with Sean Combs at Bad Boy Records. He told the GutwiZdom hosts that “one of the biggest traits of an entrepreneur is not being afraid to make decisions.”

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