Expert Entrepreneurs Make it OK for Themselves to Fail (from LiveMint)

Bangalore: Stuart Read is a professor of marketing, innovation and entrepreneurship at the International Institute for Management and Development (IMD), a business school in Lausanne, Switzerland. Before that, he was part of the creation of six technology start-up firms, four of which were acquired by industry leaders including Sun Microsystems Inc. and Lotus Development Corp.

Read’s major work is in the area of effectuation, a set of heuristics that describes how people make decisions and take action in situations of uncertainty. In his recently released book, Effectual Entrepreneurship, he talks about how successful entrepreneurs do things differently from what they are taught in business schools.