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The Illusions of Entrepreneurship: The Costly Myths That Entrepreneurs, Investors, and Policy Makers Live By, by Scott A. Shane

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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 entrepreneurial activity in the United States and other countries, draws on the data from extensive research to provide accurate, useful information about who becomes an entrepreneur and why, how businesses are started, which factors lead to success, and which predict a likely failure.
The Illusions of Entrepreneurship is an essential resource for everyone who has dreamed of starting a new business, for investors in start-ups, for policy makers attempting to facilitate the formation and survival of new businesses, and for researchers interested in the economic impact of entrepreneurial activity. Scott Shane offers research-based answers to these questions and many others:
· Why do people start businesses?
· What industries are popular for start-ups?
· How many jobs do new businesses create?
· How do entrepreneurs finance their start-ups?
· What makes some locations and some countries more entrepreneurial than others?
· What are the characteristics of the typical entrepreneur?
· How well does the typical start-up perform?
· What strategies contribute to the survival and profitability of new businesses over time?
- Sales Rank: #794442 in Books
- Published on: 2010-01-26
- Original language: English
- Number of items: 1
- Dimensions: 9.22" h x .58" w x 6.34" l, .57 pounds
- Binding: Paperback
- 224 pages
Review
0;In this fact-filled, but fun-to-read book, Scott Shane demolishes many myths about entrepreneurship and in the process provides much-needed guidance to entrepreneurs, investors, and policymakers.1;2;Steve Crawford, Director, Social, Economic, and Workforce Programs Division, National Governor7;s Association
-- Steve Crawford
0;This fascinating book, by one of the most competent investigators of the subject, tells us how much we think we know about entrepreneurship that is just not true. It has already led me to change several of my lectures (with thanks to the author). This book is a must read for anyone who takes a serious interest in the subject of entrepreneurship.1;2;William J. Baumol, Academic Director, Center for Entrepreneurial Studies, Stern School of Business, New York University
-- William J. Baumol
"This makes an excellent reality-check for anyone considering beginning their own business."-Publishers Weekly
"For its myth-busting findings and analytical rigor, Mr. Shane''s book is a welcome addition to the literature on a crucial part of any modern economy." -- Nick Schulz "Wall Street Journal" (01/30/2008)
"The lessons in this book will perhaps save its readers a bundle of money that would otherwise be wasted on an ill-conceived business idea."-Morgan Lewis Jr., Inside Business -- Morgan Lewis Jr., "Inside Business"
"The belief that the U.S. is a relative haven for small businesses is one of the many bubbles burst by Scott Shane. . . . While he''s busting myths, Shane also unveils weaknesses in common entrepreneur practices." -- Mark Henricks "The Industry Standard" (02/08/2008)
"In this fact-filled, but fun-to-read book, Scott Shane demolishes many myths about entrepreneurship and in the process provides much-needed guidance to entrepreneurs, investors, and policymakers."-Steve Crawford, Director, Social, Economic, and Workforce Programs Division, National Governor's Association
"Scott has clearly and entertainingly shown why policy makers, entrepreneurs and investors should focus more attention on high growth, high potential start-ups and less on the ''me-too'' new companies than is currently the case."-David T. Morgenthaler, founder, Morgenthaler Ventures -- David T. Morgenthaler
"This fascinating book, by one of the most competent investigators of the subject, tells us how much we think we know about entrepreneurship that is just not true. It has already led me to change several of my lectures (with thanks to the author). This book is a must read for anyone who takes a serious interest in the subject of entrepreneurship."-William J. Baumol, Academic Director, Center for Entrepreneurial Studies, Stern School of Business, New York University -- William J. Baumol
"Business scholar Scott Shane debunks popular theories with research-based answers to questions such as why people start businesses, which industries are most popular for startups and what are the most common characteristics of the typical entrepreneur."--Mark Henricks, "Entrepreneur Magazine"
--Mark Henricks "Entrepreneur Magazine "
"[This] book is important not just for clearing our minds of what''s erroneous but for reconsidering our public policy, which is based on the widespread feeling that startups are a magic bullet that will create a lot of jobs and generate innovation."--Harvey Schachter, "Toronto Globe and Mail"
--Harvey Schachter "Toronto Globe and Mail "
"For its myth-busting findings and analytical--Nick Schulz"Wall Street Journal" (01/30/2008)
About the Author
Scott A. Shane is A. Malachi Mixon III Professor of Entrepreneurial Studies, Weatherhead School of Management, Case Western Reserve University. He is the author or editor of eleven books and more than sixty scholarly articles on entrepreneurship and innovation management. He lives in Shaker Heights, OH.
Most helpful customer reviews
2 of 2 people found the following review helpful.
Outstanding!
By Nicolas
This is an OUTSTANDING book. It is very readable, packed with great info and data, and flows very well. It is also very well structured and would appeal to a wide range of audience from entrepreneurs to policy makers, and from investors in start-ups to students of entrepreneurship. It is without doubt one of the best entrepreneurship books I have read.
Nowadays, there are thousands of books about entrepreneurship. Most of them build a false picture of the phenomenon. If you REALLY want to know about entrepreneurship this is the book you should buy. The book challenges the common myths about entrepreneurship and, drawing from rigorous research and data sources, describes entrepreneurship as it really occurs.
For example, the book shows the typical start-up isn't innovative, has no plans to grow, has one employee, and generates less than $100,000 dollars in revenue. It covers a wide range of fascinating topics like: What are today's entrepreneurial industries? How are new businesses financed? What makes some entrepreneurs more successful than others? How well does the typical entrepreneur do? How valuable is the average start-up?
The author of book is widely regarded within the academic community as the top entrepreneurship scholar in the world. I would strongly recommend his book to anyone who is serious about entrepreneurship.
1 of 1 people found the following review helpful.
Interesting read if you're considering entrepreneurship
By Javi
I found this book to be an interesting read for people considering becoming entrepreneurs. It is filled with data points that are not very well know. I would take some of conclusions with a grain of salt, as some of the data backing it is not all that solid. However, the author does mention when the data is not extensive.
It's not a guide to entrepreneurship and if you aren't sold on starting your own business, then it will probably seem rather gloomy. However, it's a good eye opener if you have a decent job and have considered starting a company just to not have to work for somebody else. Would defeinitely recommend it if you are thinking about starting your own business but are on the fence.
The conclusion set forth in the end seemed a bit rushed (it's all mentioned in the last 2 pages) but I think the previous chapters are worth it.
It also has a lot of references (almost half the book pages are filled with references), so depending on what kind of reader you are, that might be (or not) a good thing.
1 of 1 people found the following review helpful.
Already feels outdated as of March 2013
By Cai
feels old. old data, old ideas. It needs to be refreshed to move itself out of the time when the internet did not make entrepreneurship a totally different game. also it spends a disproportionate amount of time dealing with why women, african-americans and other groups don't do well as entrepreneurs, which is only of interest to you if you like depressing cold truths.
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