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#9 What we should tell entrepreneurs about risk


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Most of the stories we tell media entrepreneurs are success stories, and my own research is full of such examples. The problem is we might be misleading those entrepreneurs about the difficulty of launching a new business. In this podcast, we'll talk about what some experts say about the errors of judgment made by entrepreneurs and how to overcome them. 


One of the books mentioned is by Daniel Kahneman, a Nobel-prize-winning economist–Thinking, Fast and Slow.


The mental errors of entrepreneurs are laid out in detail by Stephen X.  Zhang and Javier Cueto, who draw heavily on Kahneman’s research in their  paper “The Study of Bias in Entrepreneurship”.


Different strategies have to be used in the entrepreneurial environment,  given its uncertainty and unpredictability.  Author and consultant Eric  Ries has elaborated a model in The Lean Startup, which he began as a book and has transformed into a multi-pronged consulting business.





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Your News BizBy James Breiner