Business

Thinking about starting a business? First, learn the myths of Entrepreneurship

We are awash in mystical beliefs about entrepreneurship. “The Illusions of Entrepreneurship” debunks those myths, presents the facts and describes the reality. If you have entertained the idea of going into business for yourself, you should read this book

The typical entrepreneur has not completed college, begins a low-tech business related to his work primarily to earn a living and is a sole proprietor with “no plans to employ lots of people or make lots of money.”

If this seems counter to what most of us are told about entrepreneurs, that’s because it is.

And that’s only the beginning.

Throughout the book, the author takes up one belief after another and demolishes it.

Each chapter has a list of “Busted Myths and Key Realities.” For example: Many entrepreneurs don’t think about the opportunities in business. They usually start a business first and then identify the business idea.

As you read more deeply into this book, it only gets better.

For example:

• The typical entrepreneurial startup creates only one job, and that job is much like the one the entrepreneur had with a previous employer.

• New business formation has been in decline in the United States for at least 20 years.

• Business startups are more likely to be in geographical areas that are poorer or dependent upon agriculture rather than in those areas where high-tech and high-growth companies are located.

• An education that focuses on business subjects or entrepreneurship is not a prerequisite for the entrepreneur. Studying subjects that correspond to the type of business one wants to run is just as likely to be important.

• Entrepreneurship is not a young person’s game: The majority of self-employed and business owners are 45-64.

There are several reasons you might want to read “The Illusions of Entrepreneurship”:

First, if you want to make an informed decision about starting a business.

Second, if you already are in the business of advising others in the formation of business enterprises.

And third, if you are already in business and want to correct some of your mistakes or make adjustments in your perspective.

citizentimes.com

You can buy the book on Amazon at the link below

http://www.amazon.com/Illusions-Entrepreneurship-Costly-Entrepreneurs-Investors/dp/0300113315


Abhay N

Author : 

Abhay is the founder and managing editor of India Microfinance. He is passionate about microfinance, financial inclusion and social entrepreneurship in India.

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