3 Fundamental Ideas on How to Succeed as an Entrepreneur

PER BYLUND | March 8, 2019

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It's widely agreed that we need more entrepreneurship for economic growth and a higher standard of living. But more is not always better.In fact, there can be too much of a good thing, in entrepreneurship as in so many other things. The reason is that economic growth comes from successful entrepreneurship that is also productive. And not all entrepreneurs who earn profits contribute to economic growth if they have unproductive -- or, worse, destructive -- effects on the economy. Unfortunately, many entrepreneurs fail to consider what it is that they're contributing to the economy, and for that reason don’t always end up being productive. Sure, you don’t have to be productive to make money. And to the degree that "success" is a matter of getting big figures at the end of your P&L statement and being "in the black," you can succeed as an entrepreneur without contributing much to the economy or society.

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