The Entrepreneur Equation
Evaluating the Realities, Risks, and Rewards of Having Your Own Business
By: Carol Roth
Published: March 22, 2011
Format: Hardcover, 288 pages
ISBN-10: 193561844X
ISBN-13: 978-1935618447
Publisher: BenBella Books
"This is not theory, this is reality; while every entrepreneur dreams of success, statistics show unequivocally that the majority of new businesses fail and most entrepreneurs don't succeed", writes investment banker and business strategist Carol Roth, in her eye opening and real world based book The Entrepreneur Equation: Evaluating the Realities, Risks, and Rewards of Having Your Own Business. The author provides a much needed wake up call to would be entrepreneurs about the costs and benefits, as well as the risks and rewards associated with taking the plunge to start a business venture.
Carol Roth understands the appeal of starting one's own business. She also recognizes that entrepreneurship is not for everyone. While anyone can start a business, Carol Roth provides strong reasons why not everyone should become an entrepreneur. The author shares some very startling numbers of the low success rate for start-up companies. This high level of entrepreneurial failure is a result of what Carol Roth describes as not understanding all that is involved in operating a successful company. The author shows would be business owners how to assess their own motivations for starting out on their own. In many cases, according to the author, people choose entrepreneurship for the wrong reasons, before they are ready, or prior to gaining a complete picture of their chosen industry.
Carol Roth (photo left) challenges the prospective business owner to really delve into the question of whether or not entrepreneurship is right for their needs and goals. Instead of regarding entrepreneurship as a magic bullet, Carol Roth encourages the would be business person to examine their own personality, financial situation, goals and motivations, and existing knowledge and skills. All too often, these concerns are overlooked or downplayed in the rush to get the business started and underway. Carol Roth provides the tools and exercises necessary to undertake this very crucial self assessment process. The result may indeed indicate that entrepreneurship may be the best alternative. On the other hand, the results may point to continued employment, or to seeking personal goals and satisfaction through hobbies or social past times. Should the personal assessment indicate potential entrepreneurial prowess, Carol Roth offers critical advice for beating the odds and becoming a business success story.
For me, the power of the book is how Carol Roth takes a realistic and eyes wide open approach to entrepreneurship. The author provides a real world evaluation of the actual costs and benefits, as well as the potential risks and rewards of starting a business. Carol Roth doesn't subscribe to the overly optimistic outlook of many other books on entrepreneurship. Instead, she addresses the issues of personality, financial status, and motivation head on through a series of self assessment tests designed to give the would be business owner a realistic evaluation of their ability to achieve business success. Carol Roth makes it very clear that a career as an entrepreneur is not right for everyone. Indeed, she is doing many potentially failed business owners a favor by steering them away from entrepreneurship entirely.
carol Roth divides her book into easy to navigate and understand modules starting with dispelling the myths that have grown up around entrepreneurship, moving on to individual assessment, and continuing with finding the right business fit for one's personality. Instead of glossing over the potential risks and problems faced by business start-ups, Carol Roth tackles them directly with sound advice and strategies for beating the odds stacked against the entrepreneur. Overall, this is a must read book, and a no nonsense reality check, for anyone wanting to become their own boss. Carol Roth examines the issues that many business start-up authors avoid. She does her readers a great service with her honest and candid approach to the subject.
I highly recommend the must read and essential book The Entrepreneur Equation: Evaluating the Realities, Risks, and Rewards of Having Your Own Business by Carol Roth, to anyone dreaming or planning to begin an entrepreneurial venture. This book could prevent someone experiencing a spectacular disaster as a business owner either by discouraging a likely failed attempt, or through guiding a good entrepreneurial prospect toward success.
Read the engaging and straight talking book The Entrepreneur Equation: Evaluating the Realities, Risks, and Rewards of Having Your Own Business by Carol Roth, and discover how to properly assess the potential benefits and possible roadblocks to achieving start-up company success. This book will help tilt the odds of achieving your business dreams in your favor.
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