How to be an entrepreneur

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Luke Johnson in today’s FT about ‘digital pioneers’:

“I have lost count of the number of business plans I’ve seen from ‘digital pioneers’ who want to buld the next Facebook or suchlike. The are full of extraordinary upward projections of income, mind-boggling growth assumptions, spectacular valuations and heroic demands from backers. I put them all in the shredder. As Samuel Johnson put it: Almost every man wastes part of his life in attempts to display qualities which he does not posses, and to gain applause which he cannot keep.”