Issue 160 - 03 | The Truth About Entrepreneurship

By Derek Lidow
Published Jan. 17, 2018 11:00 a.m.
“It’s time we told the truth about entrepreneurship. A lot depends on it. Over $530 billion, yes billion, is spent on launching startups every year. Most of that money comes directly out of the entrepreneurs’ pockets, or from the equity in their houses, or from debt. Much of it also comes from gifts, loans, or investments from friends and family. Only 10 to 20% of this money, depending upon the year and the state of frenzy in venture investing, comes from complete strangers and professional investors. Most of this money is wasted by ill-prepared entrepreneurs who have virtually no chance of success. And it will continue to be wasted, along with the time and effort that many hard working people put into these doomed enterprises, unless we can introduce them early on to the truth about what it takes to create and sustain a new business.”

About Derek Lidow | Bestselling author Derek Lidow has long demonstrated the rare ability to operate successfully in corporate, entrepreneurial, and academic environments. He is an experienced and successful global CEO, a researcher, an innovator, and a startup coach. He currently is a professor at Princeton where he teaches entrepreneurship, creativity and innovation and was tapped by the University to inaugurate a campus-wide “design thinking” curriculum.

Derek, who sold his last startup for $100 million, works with founders and Princeton’s aspiring students to help them achieve their greatest levels of entrepreneurial success.

In addition to Building on Bedrock, he is the author of the best seller, Startup Leadership: How Savvy Entrepreneurs Turn Their Ideas Into Successful Enterprises, (2014).

View 1 other manifesto by this author

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