It’s the all-too-familiar tale–an entrepreneur launches a high-growth startup, takes massive risks along the way, and enjoys a big exit in a few short years.
But this type of entrepreneurial journey is misleading, says serial entrepreneur and Princeton professor Derek Lidow. In a new book, Building on Bedrock, Lidow explains that “fast flip” founders often have interesting personalities and lifestyles, but they make terrible role models for aspiring business owners.
Instead, he uses the stories of classic “bedrock” entrepreneurs such as Sam Walton, Walt Disney, Est?e Lauder, and Ray Kroc to dispel the notion that a profitable, sustainable company can be built overnight.
The book serves as a “back-to-basics” guide for the aspiring entrepreneur by debunking the myths around what it takes to build and run a successful company. It’s not about astronomical tech valuations and millions in venture capital as Silicon Valley has led us to believe, Lidow writes.
He adds: “A great deal can be gained from refocusing our conversation about entrepreneurship, learning from great role models, and exposing the myths that lead entrepreneurs to take on needless risks, waste large amounts of money and resources, and fail when they could have succeeded.”
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Source:: Fortune.com – Tech