Professor and author describes 10 myths of entrepreneurship and his take on the realities. Excerpts from the interesting ones:

1. It takes a lot of money to finance a new business. Not true. The typical start-up only requires about $25,000 to get going. The successful entrepreneurs who don’t believe the myth design their businesses to work with little cash.

2. Venture capitalists are a good place to go for start-up money. ... In fact, the odds that a start-up company will get VC money are about one in 4,000.

5. Banks don’t lend money to start-ups. This is another myth. Again, the Federal Reserve data shows that banks account for sixteen percent of all the financing provided to companies that are two years old or younger.



 

Submitted: Jan 11, 2008    Views: 265    Comments: 1    Likes: 1   


View Article: http://blog.guykawasaki.com/2008/01/top-ten-myths-o.html


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Mass Market Tech
Mass_Market_Tech

Good article. Most interesting point is that the industry you choose is the most important factor in business success.

Posted: Jan 11, 2008



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