How I Made It: Stories About 40 Successful Entrepreneurs
I have just finished reading "How I Made It", a book of story collection about 40 successful entrepreneurs from Britain. It is written by Rachel Bridge who, as the Enterprise Editor of The Sunday Times at that time, made personal in-depth interviews with entrepreneurs about how they turn their dreams into reality. Bridge also gives a very good introduction about the nature of entrepreneurship and entrepreneurs in general, enriched with statements from experts.Here I would like to share my overall impression of those entrepreneurs.
Common Traits of the Entrepreneurs Who Made It
#1 They spot an unmet demand in the market.
They notice an untapped opportunity. They pick a niche and grow bigger in that niche. They don't go into any saturated market and combat there. Nor they do innovate something new whose demand is unknown yet.
#2 They take risks.
Without exception, they are all risk-takers.
#3 They have failure stories as well.
Most of them have failure stories before having a success story.
#4 They don't follow formal education.
It is an interesting fact. Only small percentage of 40 entrepreneurs has a university degree or higher education.
#5 They don't throw in the towel when hard times hit.
They don't give up easily and they are always proactive when their businesses go into turbulence.
Reading entrepreneurial stories is inspiring. What I liked most in this book is that it includes not only success stories but also failure stories of those entrepreneurs. I think that failure and success always go side by side and any so called "failure" can be turned into success if we see it as a learning experience.Is there any good book about entrepreneurs and entrepreneurship you would like to recommend? Please drop a line below in the comments.
Rachel Bridge. How I Made It - 40 Successful Entrepreneurs Reveal How They Made Millions. 2nd Edition, Kogan Page (2009).