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June Book of the Month: The Entrepreneur Equation by Carol Roth

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June Book of the Month: The Entrepreneur Equation by Carol Roth

Carol Roth's book pushes readers to consider the question not "Could I start a new business" but rather "Should I?" The Entrepreneur Equation: Evaluating the Realities, Risks, and Rewards of Having Your Own Business, adds a dose of reality to the wide-eyed optimistic entrepreneurial dream by asking if starting a business is actually the best move for you.

 

Early in the book, Roth dispels some of the assumptions, myths, and delusions surrounding entrepreneurship and the "American Dream" while hammering home some of the true realities - 90 percent of small businesses fail in the first year, competition is fierce (here and from abroad), information travels fast, and increased goods are targeting a fixed population.  She says that like medical school and the NFL, there should be a screening process for entrepreneurs - which she calls FIRED-UP:

 

Finances, Inspiration, Responsibilities, Experience, Dedication, Unbridled Passion

 

She, then, asks each reader to self-evaluate, holds no punches outlining the misguided reasons people start businesses, and attempts to dissuade anyone from trying! Apparently, if you reach the end of the book and are fully steam ahead then, you've passed the test.

 

  • If you are thinking about starting a business, I'd love to know if this book helped or instilled the fear it did in me?
  • If you have a business already, would this book have been a good present for you or not?
  • What lesson do you wish someone had shared with you or what did you wish you'd known before starting?
Rosalind Morville