1. A part of the reading that I found surprising was the statistic on new firms. Since the 1990s, approximately 1,500 new businesses are started every day. That number is absolutely insane to me. It really makes one realize the importance of making sure your idea is unique and actually meets an unmet need, otherwise it will simply be swept away in the enormous tide of new businesses all vying for a spot in the market. Ventures must be distinguishable to succeed.
2. Part of the reading that I found a bit confusing was the passage on growth of sales. I previously thought that growth was always a good thing. It seems a bit strange to me that certain entrepreneurs would want their start-ups to stay small simply for the sake of control. Does rapid growth naturally equate to loss of autonomy?
3. Two questions I would ask the author:
How does one learn to make objective evaluations? Self-bias is very strong, would it be better to rely on others to evaluate your business idea?
What should be the timeline for profitability? How long should an entrepreneur be ready to sink money into a venture before making money from it?
4. I didn't really disagree with the author anywhere in this chapter. He gives a well laid out basis for start-up pitfalls and considerations, including some that I hadn't really even considered as a possible issue (such as legality of a new business. Sinking time and resources into a venture and then having it turn out not even be legal could ruin a potential business owner). I found the chapter informative.
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