“It’s bad enough to give up control,” she complained, “But if I keep giving away sto
ck, I’ll still be driving my 1994 Honda Civic to my son’s college graduation.” Given the fact that her son was an infant, she was joking, of course. But the fact is: Start-ups almost always make their founders poor before they make them rich. Finally, there is that popular notion you refer to: That companies can get born by just a bunch of bright people in the room bursting with energy to “make it happen.” We would call that partial information. Obviously, passionate, talented people are the key to getting a venture off the ground. And yes, there have been cases of friends banding together to build something amazing from scratch. But those friends usually had an idea to start with. The real engine of any start-up is a product or service that fills a market need, or better yet, creates one.
For Complete IIPM Article, Click on IIPM Article
ck, I’ll still be driving my 1994 Honda Civic to my son’s college graduation.” Given the fact that her son was an infant, she was joking, of course. But the fact is: Start-ups almost always make their founders poor before they make them rich. Finally, there is that popular notion you refer to: That companies can get born by just a bunch of bright people in the room bursting with energy to “make it happen.” We would call that partial information. Obviously, passionate, talented people are the key to getting a venture off the ground. And yes, there have been cases of friends banding together to build something amazing from scratch. But those friends usually had an idea to start with. The real engine of any start-up is a product or service that fills a market need, or better yet, creates one.For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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