Obstacles for Millennial Entrepreneurs

I came across this interesting article on WSJ.com. Perhaps even more interesting than the perspectives that these experts offer is how their critiques differ based on their backgrounds.

A UChicago Management Professor thinks health care costs, inflation, and interest rates are the most pressing issues for entrepreneurs our age – a very traditional view of barriers. Other older experts say that our web savvy actually could hurt us when trying to connect to real people. Either way, an interesting read.

Lawyer-Entrepreneur Relationship


This article highlights a couple of ways that lawyers and entrepreneurs can work together.  One line that seemed especially applicable to people in this class is, “Lawyers must learn not just to morph ventures to satisfy law.  We must learn to morph the law to suit the evolving nature of business and society.”  Also, in mentioning that “technologies are dissolving jurisdictional boundaries and distinctions,” the article evokes questions about the shifting role and importance of cyberlaw and conflict of laws.

Next generation of family business leaders in Africa and the Middle East- Entrepreneurs of tomorrow

Family-owned businesses make up over 80% of the private sector in the Middle East and North Africa and their sustainability is crucial for the regional economies.  Young family business members from across the MENA region gathered in Dubai to attend Tharawat Family Business Forum’s 3rd annual Arabian NextGen conference. With this year’s theme focusing on ‘From Idea to Market’ the next generation of family business leaders were shown how to turn a business idea into market success, and understand the entrepreneurial journey by learning from case studies and research.

It is interesting how entrepreneurial education is being pushed to young members of family businesses with the hope that teaching people how to be an entrepreneur will facilitate the growth of start-ups and small businesses in Africa and the Middle East.


Can lawyers be entrepreneurs?

This article suggests that most lawyers make bad entrepreneurs, mainly because the way that lawyers are taught to think shuts down nearly every entrepreneurial instinct.  Lawyers are taught to forecast problems and to remove ambiguity and uncertainty, while entrepreneurs must understand and be comfortable with risk and uncertainty.  The author believes that the psychology and mindset of entrepreneurship should be taught in law school to inform the lawyers who may eventually leave law practice to enter the world of entrepreneurship and also to help lawyers better understand their entrepreneurial clients.


More about effectual reasoning

Here is a link to one of Saras Sarasvathy’s sites where more about effectuation is explained.  There are links to several short, readable articles.  Note that this is the site for the Society for Effectual Action, which seeks not only to expand understanding about entrepreneurship, but to apply the principles Dr. Sarasvathy has uncovered to other areas, as well.