in 111 Books in 2011

#6/111: Confessions of a Serial Entrepreneur

What is it about?

Stuart Skorman tells about his business and private life. He started several companies in his life, worked as a band manager and played high stakes poker for two years. All in all a pretty adventures life.

Key points?

Choose your business idea/model on logic and profitability. He tried to make an educational business to give something back to the world but forget to make it profitable. Result: The business failed and he and his investors (family, friends) lost a lot of money.

Conclusion

This is one of the few books where people wrote a lot about the failures. This makes is very valuable. He excelled on his first company (video renting) because he loved movies, had enough information about the customer and the retail business. This example shows greatly that you should rather go for boring ideas than for clever, new, exciting ones, which will probably fail.

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