Week 2 Reading Reflection

Dear readers,

Here's my first reading reflection! Chapter 1 of Donald F. Kuratko's Entrepreneurship: Theory, Process, Practice.

The biggest surprise for me in chapter 1 would have to have been reading about the myths. I did not realize that there were so many myths about entrepreneurs, and some of them I have never even heard before (I'm looking at you, "entrepreneurship is chaotic"!). The myths were really fascinating to read. I had always assumed people had a positive outlook on entrepreneurship! When I read about the myths, though, I can understand where the myths arise from.

One part of the reading that I found confusing was the part on the survival of businesses, specifically gazelles. My confusion here is when the author states, "The common myth that 85% of all firms fail in the first year ... is obviously not true. The origins of this myth have been traced ... to a perfectly accurate piece of research stating that 85% of firms fail. This finding may have been extended to become '85% of all small start up firms fail in the first year.'" To me, this paragraph was confusing; what exactly was the 'perfectly accurate piece of research' discussing? Large businesses as opposed to small businesses? I didn't really understand and would really have liked some clarification between the research study and how it somehow developed into a common business myth.

I think I mainly  agree with the author. I would have to disagree, however, when he makes the generalization that entrepreneurs are aggressive (as in, he says that it is a common character trait). I have met many entrepreneurs who could be described as competitive, but not 'aggressive', which I feel denotes a negative connotation.

I have two questions for the author:

1) What myths did you first have about entrepreneurship, if any? I'd like to know as a fellow entrepreneur if you had any myths dispelled when you first got into the field, or if you were like me and had a generally positive outlook on entrepreneurs.

2) Which macro school of thought do you think most people fall under? I am inclined to think most people fall under the 'environmental' school of thought, but it would be nice to have an expert's opinion.