Author Claims the Myth of Entrepreneurship in America is Misleading

FOR IMMEDIATE RELEASE
Boston, Massachusetts, United States of America (Free-Press-Release.com) October 25, 2011 -- EBSCO Publishing has just released a new book summary of Invisible Capital. Few concepts in the United States are as deeply rooted as the American Dream. Hard work, determination, a willingness to take risks – these are the qualities needed to succeed, at least in the common narrative.

According to author Chris Rabb, however, the reality is not nearly so positive. Only a small fraction of businesses succeed past their first few years, and even fewer hire employees. So why is there such a disconnect between the reality and the myth of starting a business, and what can be done about it?

In Invisible Capital, Rabb discusses the myths, realities, and opportunities behind entrepreneurship, explaining where the myths come from and how damaging they can be for would-be business owners. According to Rabb, invisible capital is the set of factors – such as skills, education, work experience, family connections, and networks – that everyone has to greater or lesser extents. Rabb reviews how invisible capital can be identified, leveraged, and shared in order to level the playing field for entrepreneurs.

According to Rabb some of the myths, realities, and opportunities of entrepreneurship include:

• The myth of entrepreneurship in America is misleading; successful entrepreneurs are often neither “self-made” nor risk-takers.
• This myth is not only ignorant but dangerous, as it leads people to believe that all they need to start a successful business is a great idea and a strong work ethic.
• Invisible capital refers to the collection of assets (both fixed and variable) that improve a venture’s chance of success. It includes skills, education, work experience, family background, social networks, fluent languages, and the like.

• Factors associated with invisible capital can make the difference between success and failure.
• While dominant social classes may have more invisible capital, much of it can be gained once people know what they need.

In addition to a 7-10 page summary of the book, each Business Book Summary includes a Key Concepts section that outlines the main points of the book, an About the Author section that informs readers of the author’s background as well as their additional written works, and a Features of the Book Section that explains the special features found within the book.

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