3 ms·

It's a fallacy that one should avoid ambitious choices because few succeed at them. On average the odds of starting a successful startup are low, but the reaso

by pg 16y ago

It's a fallacy that one should avoid ambitious choices because few succeed at them. On average the odds of starting a successful startup are low, but the reason that's so is that it's an average of a few people for whom the probability of success is high (not 100%, but still high considering the risks) and a large number for whom it's practically zero. I suppose in a sense he's doing students a favor with this article, because the ones who don't perceive the fallacy are probably the ones with a low chance of succeeding.

jacques_chester 16y ago
It is also a fallacy that one should make ambitious choices because some well-known few have succeeded. In either case you are making a decision out of emotion (fear or hope). edit: better noun.
- AJ007 16y ago
  Exclude the "well known few" from the list of successful entrepreneurs and you still have a list of people that is quite large. I am very fortunate I did not listen to anyone who told me their opinion when I was preparing to drop out of college some 5 years ago. As difficult as it was to do back then, the choices I have to make to run my company and keep my employees employed make that one decision appear pathetically simple and obvious. Being an entrepreneur is about making decisions for yourself because no one else can tell you what to do (and once you become successful everyone will have an their opinions of what you should do.) If you are incapable about making challenging decisions to run your own life you are not going to be a successful entrepreneur and you should listen to what other people tell you.
  - jacques_chester 16y ago
    I was not aware that weighing up advice, and sometimes taking it, was an inability to make challenging decisions. I am glad you were successful, however your experience remains only anecdotal. I have one too: my father did not go to university, worked hard at his trade, started a business, and went bankrupt.
Alex3917 16y ago
Of the people I know who think they're smart enough to drop out of school and start a successful business, most of them are smart enough to start a business, but not necessarily the one they want to start.

by pg 16y ago

jacques_chester 16y ago

It is also a fallacy that one should make ambitious choices because some well-known few have succeeded. In either case you are making a decision out of emotion (fear or hope). edit: better noun.

AJ007 16y ago
Exclude the "well known few" from the list of successful entrepreneurs and you still have a list of people that is quite large. I am very fortunate I did not listen to anyone who told me their opinion when I was preparing to drop out of college some 5 years ago. As difficult as it was to do back then, the choices I have to make to run my company and keep my employees employed make that one decision appear pathetically simple and obvious. Being an entrepreneur is about making decisions for yourself because no one else can tell you what to do (and once you become successful everyone will have an their opinions of what you should do.) If you are incapable about making challenging decisions to run your own life you are not going to be a successful entrepreneur and you should listen to what other people tell you.
- jacques_chester 16y ago
  I was not aware that weighing up advice, and sometimes taking it, was an inability to make challenging decisions. I am glad you were successful, however your experience remains only anecdotal. I have one too: my father did not go to university, worked hard at his trade, started a business, and went bankrupt.

Alex3917 16y ago

Of the people I know who think they're smart enough to drop out of school and start a successful business, most of them are smart enough to start a business, but not necessarily the one they want to start.