For some entrepreneurs, the best education comes from the real world—by making mistakes, learning from them and by seeking advice from business owners who've failed and succeeded before them.
A good candidate to learn from is Marcus Lemonis of CNBC's "The Profit." The CEO of Camping World and Good Sam, he has his hands in more than 100 businesses, and he's planning to add another one—Crumbs Bake Shop, a once-popular cupcake chain that went into bankruptcy in early July.
He dispenses advice every day on social media and via e-mail. Now on the "The Biz Fix," he's answering some of the most popular questions.