‘Gradualism’ is the way forward, according to Lord Stevenson of Coddenham, Chairman in Residence at Cambridge Judge Business School, as he warns entrepreneurs against running before they can walk.
Launching a new series of Cambridge Leadership Seminars, Lord Stevenson, in an interview for Cambridge Judge Business School’s website, said he felt there are a number of issues around entrepreneurship that are incorrectly talked and thought about.
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“Too many people think about entrepreneurship and say ‘hey, I’m going to be like Bill Gates’. Actually very few of us are going to be Bill Gates; perhaps we don’t want to be Bill Gates.
“One of my key messages is that setting up your own business is a decision about a way of life. Yes, you hope it’ll make money it’s got to make you some money to help you survive.
“There’s the whole issue of how you do it where I preach the gospel of gradualism of not rushing into a great deal with venture capital or angel industry selling a great chunk of your shares for a mess of pottage but recognising that businesses need to evolve they change as they go along.”
Lord Stevenson is a former Chairman of HBOS and the Pearson publishing group and is associated with numerous business and corporate ventures.