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The Misconceptions of Entrepreneurship

Posted on Aug 12, 2013 in Book Coverage, LinkedIn, Print

Originally posted on Richard Branson’s Linked In page August 12, 2013 By Richard Branson In the past few decades entrepreneurship has been transformed from a dirty word into one of the most aspirational careers people strive for. So what does being an entrepreneur really mean? We’ve discussed how you would define the word ‘entrepreneur’ on LinkedIn before, but The Economist’s excellent Schumpeter column got me thinking about the subject again when it described entrepreneurship as: “The modern-day philosopher’s stone: a mysterious something that supposedly holds the secret to boosting growth and creating jobs.” The article points out the confusion around the purpose of entrepreneurship, as well as the motives behind what makes entrepreneurs tick. As the term has to encompass so many different personalities, businesses and viewpoints, it is only natural that misconceptions crop up. Nevertheless, there are some common traits...

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Who Moved My Fortune?

Posted on Jul 30, 2013 in Book Coverage, Print, Wall Street Journal

Book Review: Some entrepreneurs want to do good. Many more are driven by a chip on the shoulder, a desire for revenge, a distaste for authority.   For more, read the original piece here....

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Crazy Diamonds: True entrepreneurs find worth in the worthless and possibility in the impossible

Posted on Jul 20, 2013 in Book Coverage, Print, The Economist

Originally published in the Economist, July 20, 2013 ENTREPRENEURSHIP is the modern-day philosopher’s stone: a mysterious something that supposedly holds the secret to boosting growth and creating jobs. The G20 countries hold an annual youth-entrepreneurship summit. More than 130 countries celebrate Global Entrepreneurship Week. Business schools offer hugely popular courses on how to become an entrepreneur. Business gurus produce (often contradictory) guides to entrepreneurship: David Gumpert wrote both “How to Really Create a Successful Business Plan” and “Burn Your Business Plan!”. But what exactly is entrepreneurship (apart from a longer way of saying “enterprise”)? And how should governments encourage it? The policymakers are as confused as the gurus. They assume that it must mean new technology; so they try to create new Silicon Valleys. Or that it is about small businesses; so they focus on fostering start-ups. Both assumptions...

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Entrepreneurship: Worthless, Impossible and Stupid?

Posted on Jul 16, 2013 in Book Coverage, LinkedIn, Print

Originally postedy by Vivek Wadhwa on LinkedIn, July 16, 2013 One of the best and most fun books I’ve read on entrepreneurship is by my friend Daniel Isenberg, titled Worthless, Impossible and Stupid: How Contrarian Entrepreneurs Create and Capture Extraordinary Value. Isenberg, who is a professor at Babson, challenges conventional wisdoms, presents great examples, and takes a global perspective. With his and the publisher’s permission, I am sharing this excerpt. Entrepreneurship is a contrarian process in which the entrepreneur uniquely realizes and reaps extraordinary value by seeing its potential where others do not, largely because the particular constellation of factors at that moment is perceived by virtually everyone but the entrepreneur as valueless. But the potential extraordinary value becomes actual because of the entrepreneur’s ability to recognize, realize (as in “bring forth”), and then reap the value that no one...

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No one is talking about the implicit costs of entrepreneurship

Posted on Jul 13, 2013 in Authored, Print, Quartz

Originally published on Quartz, July 13, 2013 By Daniel Isenberg July 13, 2013 Daniel Isenberg is the Professor of Entrepreneurship Practice at Babson Executive and Enterprise Education. There is good news and bad news about entrepreneurship. The good news is that there is emerging global consensus that fostering entrepreneurship should be an integral part of every region’s economic policy. Entrepreneurship is a way to generate growth, with the associated outcomes of dignified employment creation, wealth generation, taxes and fiscal health, and in some cases, innovation and philanthropy. Numerous examples are abound. But there is “bad news” as well. As I have written, policy surrounding entrepreneurship is extremely complex and confusion is rampant, in part because entrepreneurship is constantly conflated with self-employment, small business, micro-enterprise, innovation, startups and so on. Because of this, policy makers are confronted with a bewildering array of potential solutions—incubators,...

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Review: Inside the entrepreneurial mindset

Posted on Jul 7, 2013 in Book Coverage, Print, Review, USA Today

Originally published on USA Today, July 7, 2013 If you’ve ever wondered what it takes to become a successful entrepreneur, you’ll want to read “Worthless, Impossible, and Stupid: How Contrarian Entrepreneurs Create and Capture Extraordinary Value,” by Daniel Isenberg. The fascinating book is colorful collection of stories based on business case studies that Isenberg compiled during the 11 years he taught classes on entrepreneurship at Harvard University. Though the companies profiled are all very different, the entrepreneurs who made them successful have a number of things in common. Isenberg is an entrepreneur, investor, speaker, consultant and former Harvard University professor who now teaches management practice at Babson Global. He founded the Babson Entrepreneurship Ecosystem Project and recently served as an advisor to the White House on the “Startup America” initiative. During a recent phone interview from his office in...

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