R.Madhusudan sent me this link. I found this to be a very good article on the difference between entrepreneurial thinking and traditional approaches.
As an advisor I try to stimulate entrepreneurial thinking. If you read this and are able to put it in practice then your odds of success are likely to be higher.
Thank you Madhu for bringing this to my attention. It is also available as a comment on my “Generation Rest ” post .
It is an important read so I felt that it deserved its own post.
Example : Traditional thinking – To the extent we can predict the future we can control it
: Entrepreneurial thinking – To the extent we can control the future we do not not need to predict it
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This is the best piece I have read all year. It fundamentally questioned a lot I learned at IIMA. Set me to rethink life and think startup sooner! 🙂
Cheers. Please keep posting this kind of stuff. It inspires no ends.
Great article. I think, this captures the essence of risk taking. Decision making with imperfect / incomplete information. The future itself is always unknowable and the best firms/entrepreneurs who succeed are the ones who realize that and try to be in synch with evolving changes. Analysis can take one only so far and in any case entreprenuership is all about synthesis of incomplete inforamtion bits.
I would suggest a book my Justin Mamis – “Nature of Risk”. The context is about trading and financial markets, but the abstracts can be applied to entrepreneurship and any kind of risk taking in general.
that was a great post , thanks .
i was thinking why some (rather most of the) folks are averse to theidea of doing a stratup ?? i did a post on this some time back , which explore the same problem from the view point of all the social pressure and risk any aspiring enterprenuer may have to face . and here is the link
http://knowprashant.blogspot.com/2005/12/lost-in-transition.html
hope you will like it
Hey I was just doing a postman’s job! Thanks for putting my name on the front page of venturewoods:)
Madhu
Point taken. Great post. You just did a great favour….!
Death knell for astrologers and many a traditional lalas who patronise them though….!