If you are an entrepreneur or think like one, there is a great new book that should end up on your reading list. Daniel Isenberg dispels three myths about entrepreneurship that informs just about everybody who has been in a start-up business or intends to be.

The three myths:

  1. Entrepreneurs must be innovative.
  2. Entrepreneurs must be experts.
  3. Entrepreneurs must be young.

His take on the three more valued elements of entrepreneurship:

  1. Perceiving extraordinary value.
  2. Creating extraordinary value.
  3. Capturing extraordinary value.

These bottom three elements are the preferred ones for success, and they all imply the need to execute a business plan, but they certainly don't require innovation, expertise or youth.

"Worthless, Impossible and Stupid" is full to the brim with case studies. Seeing the examples of successful entrepreneurs being told initially by venture capitalists and others that it just wouldn't work--that the idea was worthless, impossible, or stupid- made me smile.  This is a good read.

Need help with entity formation?  Got an idea and need some legal counsel?  We can help.  Contact our Business Law team.

- The Business Law Team
  Rogers, Sheffield & Campbell LLP

 

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