The Anna Karenina principle in entrepreneurship

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The opening sentence of Tolstoy’s Anna Karenina – “Happy families are all alike; every unhappy family is unhappy in its own way” – has inspired the term “The Anna Karenina” principle. It readily applies to entrepreneurship: Successful entrepreneurs are all alike; every non-successful entrepreneur fails in his or her own way. Success, then, is not […]

Is there life after Dragons’ Den?

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There you have it. The real-life Dragons have spoken. Your idea has been turned down. What are you to do? It is an emotional rollercoaster. On the one hand, you can resign and savor life without uncertainty. But then you start thinking about all those cases – too many to be discounted as flukes – […]

In search and praise of (well intentioned) failure

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To succeed, many things need to go right. To fail, only one of them needs to go wrong. Economists talk of the paradox of thrift: saving money is good for you, but if everyone saves too much, then we all may be worse off. Curiously, the same logic applies to entrepreneurial failure, but the other […]