Iyad Magdy's Key Ideas from The Business Book
by DK

• These entrepreneurs faced the risk of a new business because they deeply believed in something, and were driven to realize their dream, despite long hours, stress, and, often, a string of failures large or small. These are quickly forgotten when people are doing something they love.
• Traditionally, the main barriers to enterprise were time and capital.
• Without sufficient savings, few people could risk a new business venture in the 20th century,but today, starting a business is easier.

• These entrepreneurs faced the risk of a new business because they deeply believed in something, and were driven to realize their dream, despite long hours, stress, and, often, a string of failures large or small. These are quickly forgotten when people are doing something they love.
• Traditionally, the main barriers to enterprise were time and capital.
• Without sufficient savings, few people could risk a new business venture in the 20th century,but today, starting a business is easier.

These micropreneurs,who sell everything from homemade fashion items to antiques and secondhand electronics,are risking very little other than their own time—the capital outlay can be as much or as little as they are willing to risk

Large companies such as Hewlett-Packard and Indian biotech Biocon started in their founders’ garages.Passion was key—with very limited capital,essential equipment was begged and borrowed;friends and family were used as staff;and sleep was sacrificed.The main resources were time, skill,and tenacity.

The path is not straightforward, however, and requires a deep commitment, often in the face of failure. As Jeff Bezos warned, “invention requires a long-term willingness to be misunderstood.” ■

These micropreneurs,who sell everything from homemade fashion items to antiques and secondhand electronics,are risking very little other than their own time—the capital outlay can be as much or as little as they are willing to risk

Large companies such as Hewlett-Packard and Indian biotech Biocon started in their founders’ garages.Passion was key—with very limited capital,essential equipment was begged and borrowed;friends and family were used as staff;and sleep was sacrificed.The main resources were time, skill,and tenacity.

The path is not straightforward, however, and requires a deep commitment, often in the face of failure. As Jeff Bezos warned, “invention requires a long-term willingness to be misunderstood.” ■

These micropreneurs,who sell everything from homemade fashion items to antiques and secondhand electronics,are risking very little other than their own time—the capital outlay can be as much or as little as they are willing to risk

Large companies such as Hewlett-Packard and Indian biotech Biocon started in their founders’ garages.Passion was key—with very limited capital,essential equipment was begged and borrowed;friends and family were used as staff;and sleep was sacrificed.The main resources were time, skill,and tenacity.

The path is not straightforward, however, and requires a deep commitment, often in the face of failure. As Jeff Bezos warned, “invention requires a long-term willingness to be misunderstood.” ■

These micropreneurs,who sell everything from homemade fashion items to antiques and secondhand electronics,are risking very little other than their own time—the capital outlay can be as much or as little as they are willing to risk

Large companies such as Hewlett-Packard and Indian biotech Biocon started in their founders’ garages.Passion was key—with very limited capital,essential equipment was begged and borrowed;friends and family were used as staff;and sleep was sacrificed.The main resources were time, skill,and tenacity.

The path is not straightforward, however, and requires a deep commitment, often in the face of failure. As Jeff Bezos warned, “invention requires a long-term willingness to be misunderstood.” ■

These micropreneurs,who sell everything from homemade fashion items to antiques and secondhand electronics,are risking very little other than their own time—the capital outlay can be as much or as little as they are willing to risk

Large companies such as Hewlett-Packard and Indian biotech Biocon started in their founders’ garages.Passion was key—with very limited capital,essential equipment was begged and borrowed;friends and family were used as staff;and sleep was sacrificed.The main resources were time, skill,and tenacity.

The path is not straightforward, however, and requires a deep commitment, often in the face of failure. As Jeff Bezos warned, “invention requires a long-term willingness to be misunderstood.” ■

These micropreneurs,who sell everything from homemade fashion items to antiques and secondhand electronics,are risking very little other than their own time—the capital outlay can be as much or as little as they are willing to risk

Large companies such as Hewlett-Packard and Indian biotech Biocon started in their founders’ garages.Passion was key—with very limited capital,essential equipment was begged and borrowed;friends and family were used as staff;and sleep was sacrificed.The main resources were time, skill,and tenacity.

The path is not straightforward, however, and requires a deep commitment, often in the face of failure. As Jeff Bezos warned, “invention requires a long-term willingness to be misunderstood.” ■

These micropreneurs,who sell everything from homemade fashion items to antiques and secondhand electronics,are risking very little other than their own time—the capital outlay can be as much or as little as they are willing to risk

Large companies such as Hewlett-Packard and Indian biotech Biocon started in their founders’ garages.Passion was key—with very limited capital,essential equipment was begged and borrowed;friends and family were used as staff;and sleep was sacrificed.The main resources were time, skill,and tenacity.

The path is not straightforward, however, and requires a deep commitment, often in the face of failure. As Jeff Bezos warned, “invention requires a long-term willingness to be misunderstood.” ■