5 Entrepreneurial Myths

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Bruno Vanryb of Avantquest shares five myths he sees continually promoting to startup founders and just why they are wrong.

Transcript of 5 Entrepreneurial Myths

  • Five Entrepreneurial Myths
    Paris FailCon
    September 22, 2011
  • Bruno Vanryb: an entrepreneur
    Co-founder, Chairman and CEO of Avanquest Software - Since May 1984
    President of the Software Developers Committee at Syntecnumerique Since July 2010
    Member of the CNN (Government Advisory Council for digitally related topics) Since April 2011
    Board Member of NYSE Euronext (since 2007), MCI Group (since 2006) and The Creative Factory (since 2003)
    President of Croissance Plus (1998 2000), a well known French association whose aim is to raise awareness and support young growth companies
    President of MiddleNext (2002 2005), a professional association comprising of more than 150 mid cap companies listed on the French stock exchange
    Freelance journalist for the French computer press (1983 1986)
    Co-writer of 12 popular books on micro-computing (1983 1986) published by Editions Eyrolles in Paris
    Sound Engineer (1977 1983) recorded several very well-known French new wave, rock and variety music successes
    Motorcycle enthusiast, travelling with his bike, collecting classic models and also took part in amateur races from 1997 to 2003
    Modern art enthusiast, chaired a modern art lovers association called Les Centaures between 1993 and 2000
    Clearly an autodidact
  • My parents kept saying:
    You must pursue higher education
    Unfortunately I failed my first two years of medical school
    Is it so alarming after all?
  • First myth: You need an array of qualifications to succeed
  • The number of self-taught entrepreneurs who have gone on to succeed is significant
    Just to name a few:
    • Amadeo Peter Giannini, multimillionaire founder of Bank of America. Dropped out of high school.
    • Charles Culpeper, owner and CEO of Coca Cola. Dropped out of high school.
    • PeteCashmore, foundedMashable.comattheage of 19.
    • RayKroc, founder of McDonalds. Dropped out of high school.
    • GeorgeEastman, multimillionaire inventor and Kodakfounder. Dropped out of high school.
    • HenryFord, billionaire founder of Ford Motor Company. Did not attend college.
    • SteveWozniak, billionaire co-founder of Apple. Did not complete college.
    • DavidGeffen, billionaire founder of Geffen Records and co-founder of DreamWorks. Dropped out of college after completing one year.
    • FrederickHenryRoyce, auto designer, multimillionaire and co-founder of Rolls-Royce.Dropped out of elementary school.
    • IngvarKamprad, one of the richest people intheworld and founder of IKEA. Dyslexic.
    • JackCrawfordTaylor, founder of enterprise Rent-a-Car. Dropped out of college to become a WWII fighter pilot intheNavy.
    • LarryEllison, billionaire co-founder ofOraclesoftware company. Dropped out of two different colleges.
    • MichaelDell, billionaire founder of Dell Computers, which he started out of his college dorm room. Dropped out of college.
    • RichardBranson, billionaire founder of Virgin Records, Virgin Atlantic Airways, Virgin Mobile, and more. Dropped out of high school at 16.
    • TomAnderson, co-founder and friend of MySpace. Dropped out of high school.
    • KevinRose, founder ofDigg.com.Dropped out of college during his second year.