Good/Bad Business Advice for Budding Entrepreneurs

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Beware of Expert Counsel
Billionaire Mark Cuban believes “follow your passion” is bad advice for budding entrepreneurs. However, many experts disagree with that argument.

Based on my firsthand experience, and researching business and medical data on the ill effects of mismatched individuals and work, I disagree completely with nearly every statement in Cuban’s article.

I mean, really?
http://blogmaverick.com/2012/03/18/dont-follow-your-passion-follow-your-effort/

In the examples that Cuban uses to prove his point, it could be easily argued that the word passion is being misused by those who want to believe they’ve found their calling, and that they will prevail if they just think righteous thoughts. Cuban is not using examples of people who found and followed their path.

In a class on critical thinking, Cuban would have a hard time proving his conclusion. His argument is an example of a theory based on debatable points.

On the other hand, Cuban’s e-book preview contains a lot of common sense content. It’s almost as if two different people wrote different sections of the blog post.

Lesson: Regardless of the source, experts make mistakes; check the logic and background of arguments presented before heeding advice. Even billionaires make mistakes.

References

http://blogs.hbr.org/cs/2010/01/the_danger_of_entrepreneurial.html

http://www.forbes.com/sites/edwindurgy/2011/11/11/former-billionaire-declares-personal-bankruptcy/

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2 Responses to Good/Bad Business Advice for Budding Entrepreneurs

  1. Pingback: Finding Your Niche » Blog Archive » Passion & Myth

  2. Michelle says:

    Great idea (and nice blog!) I’ll bite here are a couple of questions that would interest me. First.. what constitutes a local young succesful’ entrepeneur? (This is more a question for you, I guess, though it might be fun to throw it to your guests/panel.)Local, I get. Young, too (although I’d be curious about your upper boundaries for young’ 30? 35? 40?) The succesful’ bit is where it gets interesting.. how do they define success? Financially? Recognition? (and.. local recognition? or national? or just within their chosen field?) Happiness, or Satisfaction?Also.. Why Columbus? What brought them here, and what keeps them here? Have local resources/people/opportunities provided some critical element to their success that they otherwise wouldn’t have had?Why NOT Columbus? Have they considered leaving? What would be the benefits to doing so?Finally.. how tied into’ non-local resources do they feel they are? Partners/customers/potential employees, etc. Does Columbus have a good network of resources to pull from when growing a successful business? Can it be done entirely homegrown?Just some thoughts.. hope these help!

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