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Finding Fertile Ground: Identifying Extraordinary Opportunities for New Ventures by Scott A. Shane

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Chapter 1. Selecting the Right Industry

While entrepreneurs like to think of themselves as being able to overcome all of the obstacles that life puts in front of them, being a successful technology entrepreneur is really more about playing the odds successfully. While you certainly need to temper playing the odds with playing to your strength, and make sure that you do not pursue a venture in an industry that you know nothing about, you need to keep in mind that your success depends a great deal on selecting the right industry in which to launch a new firm. Some industries operate through dynamics of creative destruction, and, as a result, entrepreneurs tend to perform very well. In these industries, entrepreneurs enter with new firms, challenge ...

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