FounderScholar

Humans are riddled with thinking biases. We rely on two different cognitive systems for decision making. System 1 thinking relies on intuition, whereas System 2 uses rational, deliberate reasoning. Unfortunately, both systems are imperfect and wrought with thinking biases that can lead to poor decision making. Soll, Milkman, and Payne, in their 2015 article, provide an assortment of methods to help managers identify and overcome some of the most common decision-making traps.

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Bhide’s paper presents a strategic framework for entrepreneurs based on asking themselves three questions to clarify the goals for their business, pick the right strategies to achieve those goals, and importantly, determine if they can successfully execute those strategies. The framework doesn’t prescribe answers, but instead, “helps entrepreneurs pose useful questions, identify important issues, and evaluate solutions.”

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Sixty-three percent of Americans desire self-employment. So what’s stopping them? And, are those who work for themselves really more satisfied than those working for others? In their 1998 article, “What makes an entrepreneur?” Blanchflower and Oswald analyzed data gathered from the United States and other industrialized countries, uncovering answers to these fundamental questions about who becomes an entrepreneur.

The authors’ analysis answers timeless questions still relevant to today’s aspiring entrepreneurs.

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In Why I started this entrepreneurship site I explained my motivations for launching yet another entrepreneurship site. Now, I’m excited to tell you more about the content I have planned and, specifically, what you can expect to see in the coming weeks. A multitude of useful and entertaining blogs are available today from leading founders and […]

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I started this entrepreneurship site for three reasons: I have had a lifelong fascination with entrepreneurship. Thoughtful writing forces a deeper level of understanding. I want to share both interesting research I discover and my experiences as a successful entrepreneur and technologist. A strategically-minded business will define a mission statement, or purpose, that provides a focus […]

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