Summary of The Truth About Starting a Business

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7 Overall

8 Applicability

5 Innovation

8 Style


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Starting a business is a serious undertaking. You need an inexhaustible supply of enthusiasm, energy, resilience and good fortune – and plenty of funding doesn’t hurt either. getAbstract finds that management professor Bruce Barringer cites every salient detail – however briefly – in this comprehensive, condensed look at entrepreneurship. In his list of 53 “truths” about getting a business underway, he doesn’t try to discourage you from fulfilling your dreams, but he asks you to be deeply introspective about your motives and abilities. Owning a business can be fraught with pitfalls, and any lack of commitment will greatly diminish your chances. Despite entrepreneurship’s numerous challenges and frustrations, Barringer contends that it offers tremendous potential rewards, and he tells you how to pursue them.

In this summary, you will learn

  • What decisions you need to make when starting a business,
  • What activities you must pursue and
  • Why balancing your work and your personal life matters.
 

About the Author

Bruce Barringer, a professor of management at the University of Central Florida, wrote Preparing Effective Business Plans, and is the co-author of Entrepreneurship and What’s Stopping You?

 

Summary

Taking the Plunge
Most people would like to make more money and have greater control of their work lives, but those two enticing goals aren’t the primary reasons entrepreneurs start their own businesses. Their main motives are to fulfill their destinies and to execute their ideas. Many...

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