Jon B. Fisher, Gerald A. Fisher, and Wallace Wang
Strategic Entrepreneurism: Shattering the Start-Up Entrepreneurial Myths
ISBN: 978-1-59079-189-9
I’ve read a lot of books over the years, including my fair share of books that were just written to stroke the ego of the author. When you have a successful career, you want to brag about it without really bragging about it. While that might be a great book for you and your family to read, it doesn’t really work in a broader context. Unfortunately, Strategic Entrepreneurism: Shattering the Start-Up Entrepreneurial Myths felt very much like a massive ego project by the lead author.
There was nothing terribly original in this book. The authors touched on the Lean Startup process that has been covered in significantly more depth in other books that I’ve reviewed over the years – check out anything by Eric Ries or Steve Blank for a much better explanation of this process. Steve Blank also has a few videos on the topic if you don’t have the time to read The Startup Owner’s Manual. The only original material in this book was the authors’ so-called “process” of Strategic Entrepreneurism.
Strategic Entrepreneurism has an end-goal of acquisition. The authors discussed starting businesses with this goal in mind – not to solve big problems. If you just want to make money after a five-to-ten-year period, this system is great. However, this completely contradicts everything I teach in entrepreneurship. Sure, it’s nice to receive a large pay day after a few years of work. However, this shouldn’t be the reason in which you pursue entrepreneurship – solving problems for yourself and the broader community should be your motivation.
I have my students look at the problems they face and how they can solve those problems when they create a business. If you just want to cash out after a few years, I suggest you join an existing team as one of the cofounders or first ten employees rather than going through the process of developing something yourself. Big thinkers and big ideas move society forward. Shooting for the moon very rarely pays off. I encourage my students to shoot for the moon rather than stay nestled in the world of mediocrity.
The book is now roughly fifteen years old and many of the references feel incredibly dated. Previously, I reviewed Napoleon Hill’s Think and Grow Rich, which was written decades ago but doesn’t seem as dated as Strategic Entrepreneurism. As we move further away from the dotcom bust at the turn of the millennium, students will want more contemporary examples than those offered in this book. However, there is one bright spot with this book – it’s one of the shortest books I have read in a while. It’s an easy read on a flight or in an airport.
Overall, 4/10 would not recommend to anyone looking to build something for the future. If your only goal in life is to sell businesses that only move the needle slightly, this might be the book and the process for you. However, if you have any passion for building a business or you are trying to solve actual problems, this book and the Strategic Entrepreneurism process are not for you. You are better off building something amazing rather than reading this book.