29Jan/105
The Illusions of Entrepreneurship: The Costly Myths That Entrepreneurs, Investors, and Policy Makers Live By
Product Description
There are far more entrepreneurs than most people realize. But the failure rate of new businesses is disappointingly high, and the economic impact of most of them disappointingly low, suggesting that enthusiastic would-be entrepreneurs and their investors all too often operate under a false set of assumptions. This book shows that the reality of entrepreneurship is decidedly different from the myths that have come to surround it. Scott Shane, a leading expert in e... More >>


January 29th, 2010 - 01:18
Totally crap book. All based on stupid opinions that dont have solid grounding or come across even realistic.
The book starts you off with throwing out an opinion that america is not entrepreneural due to the graphs the book provides. A graph showing people starting business ranging from 3-11%. Find me a country that has 50% of their population as self employed.
Then the rest of the book ends up stating opinions like why dont women start more businesses and having a load of crap opinions backing it up.
You are better off with a book on economics, then seek out a business lawyer or business conferences because even the most undemocratic governments have people with business which means anyone can start a business on any government.
What i would say 1 of the reason that makes america good for business is the ease of movement of goods from 1 part of the country to the next. Also the easiness of starting a business. Some countries have so much red taping that, its really a tuff road.
Rating: 1 / 5
January 29th, 2010 - 04:15
This book is very disappointing and contains a basic failure in definitions. A classic mistake of an academic not familiar with the difference between a small business and a high potential venture. Everyone can be an entrepreneur, but not everyone should start a business.
Entrepreneurship is not small business and not what this author defines it as. Small business is to be respected, but it alone is not the type of entrepreneurship that governments are attempting to support. The type of entrepreneurship that needs to be nurtured by government policies are those value creating enterprises that have characteristics of rapid growth and high potential ventures. These are not small retail stores, multi-level marketing firms, a bar, or lemonade stand – think instead of Oracle, Google, Intel, HP and thousands of others that have in their own small way created innovations for the economy.
This professor would be better off leaving university life and attempting to start a high potential venture. Then he would see first hand the myth he fails to describe.
Rating: 1 / 5
January 29th, 2010 - 05:11
This book was a huge disappointment and it starts with two MAJOR errors on the part of the writer.
First off, they define “entrepreneurs” to include anyone self-employed. By their definition countries like Peru are the most entrepreneurial in the world (3.5x more entrepreneurial than the US). Huh? Their leading countries for entrepreneurship are countries NO ONE would ever think of as being “entrepreneurial”. Furthermore, they find that the most entrepreneurial state in America is (drum roll please), VERMONT! Anybody name of any new companies that came out of Vermont (nothing against our Green Mountain friends)?? This is because the author’s definition of entrepreneurship is out of whack with what the public and policy makers are interested or concerned with.
Secondly, the author also posits that there much more entrepreneurship in the older aged than the your aged people without mentioning that there is this thing called a baby boom that has more people in those older brackets.
This book is a book totally focused on academic definitions and has zero to offer policy makers. The academic definitions are just definitions that follow the date–in other words, that is the data easily found! There is NO thinking that goes into it.
Rating: 1 / 5
January 29th, 2010 - 07:49
I left Microsoft to attempt a startup, twice with partners and once by myself. In that time, I’ve read many recommended books on business and received lots of advice about entrepreneurship from others. While those sources offer inspiring anecdotes and caveats based on real experience, Scott Shane’s compilation of research is the first book I’ve found that tries to provide some empirical grounding for increasing chances of success in starting your own business. If the odds are against you (and according to the data, the odds are against you), then it makes sense to improve your chances by looking at the data and planning accordingly.
The author has compiled statistical data about factors that affect small businesses performance into a concise book. It’s short enough to read in a couple of days. After finding some of the author’s research online, I bought his book yesterday at a local bookstore and will read it for the second time today to take notes.
Rating: 5 / 5
January 29th, 2010 - 09:14
What disappointed me about this book is that it is not really about “entrepreneurs” as I and many other people understand the term, that of people who create businesses that are generally meant to employ others, but rather about the self-employed. Many of the self-employed, such as freelance writers, podiatrists, those working as consultants for tax-reasons, are not entrepreneurs in the same sense as Bill Gates, Michael Dell, or the founder of a restaurant near your home. To my mind it’s a bit of apples and oranges to lump these two widely disparate groups together, and then draw conclusions about them, and more importantly to push for policies that do not differentiate between these two groups.
Using this definition, which includes many people not working full-time, and many who cannot find full-time jobs, Shane arrives at conclusions such as that entrepreneurs earn less than than the industry average, that striving to work as an entrepreneur is generally unwise, and more. In my opinon Shane’s conclusions do not “shatter myths,” but merely reiterate what has long been known, confuses his readers.
A more accurate, and less myth-making, title for this book would have been “Aggregate Data about the Self-Employed.” Somewhat worryingly, this book lists “East Germany” as a “country” existing in 1999! Might there be other crass inaccuracies in it? I cannot recommend this book.
Rating: 1 / 5