The launch of NBC's "The Apprentice 3" brings a new challenge of high school grads (street smarts) against college grads (book smarts). While the worlds of reality television and big corporations have large budgets and endless resources, the life of a small business owner is limited. Does running a successful small business today require book smarts or street smarts? In my opinion, both smarts are vital in today's tough business climate. At times you will need book smart tools such as: "A Business Owner's Secret Weapon: Swot Analysis" and street smart experience like "Top Five Traits You Gotta Have to Sell." Always look for new ways to add to your street smart experiences and build up your book smart skills.