Generalists Succeed as Entrepreneurs

Entrepreneurs must be generalists, according to Stanford Graduate School of Business professor Edward Lazear. He has been studying data from a 1997 survey of about 5,000 Stanford MBA alumni regarding their careers. Dr. Edward Lazear had this to say about entrepreneurs:

This view of entrepreneurship is at odds with the intuition of those who believe that entrepreneurs are technical specialists who base their new companies on innovation. The Stanford data and information from two other surveys strongly rejects this view. To the extent that entrepreneurs are innovators, for the most part they are business innovators. The innovation may be as seemingly minor as recognizing that a particular street corner would be a good location for a dry cleaner. Most entrepreneurs are non-technical people who form businesses in non-technical fields.

via About.

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