Ebook Worthless, Impossible and Stupid: How Contrarian Entrepreneurs Create and Capture Extraordinary Value, by Daniel Isenberg
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Worthless, Impossible and Stupid: How Contrarian Entrepreneurs Create and Capture Extraordinary Value, by Daniel Isenberg
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Introducing the global mind-set changing the way we do business.
In this fascinating book, global entrepreneurship expert Daniel Isenberg presents a completely novel way to approach business building—with the insights and lessons learned from a worldwide cast of entrepreneurial characters. Not bound by a western, Silicon Valley stereotype, this group of courageous and energetic doers has created a global and diverse mix of companies destined to become tomorrow’s leading organizations.
Worthless, Impossible, and Stupid is about how enterprising individuals from around the world see hidden value in situations where others do not, use that perception to develop products and services that people initially don’t think they want, and ultimately go on to realize extraordinary value for themselves, their customers, and society as a whole. What these business builders have in common is a contrarian mind-set that allows them to create opportunities and succeed where others see nothing. Amazingly, this process repeats itself in one form or another countless times a day all over the world.
From Albuquerque to Islamabad, you will travel with Isenberg to discover unusual yet practical insights that you can use in your own business. Meet the founders of Grameenphone in Bangladesh, PACIV in Puerto Rico, Sea to Table in New York, Actavis in Iceland, Studio Moderna in Slovenia, Hartwell Metals in Hong Kong and Southeast Asia, Given Imaging in Israel, WildChina in China, and many others. You’ll be moved by the stories of these plucky start-ups—many of them fueled by adversity and, more often than not, by necessity.
Great stories, stunning successes, crushing failures—they’re all here. What can we, in the East and West, learn from them? What can you learn—and what will these entrepreneurial stories, so compellingly told, inspire you to do?
Let this book open doors for you where you once saw only walls. If you’ve ever felt the urge to turn a glimmer of an idea into something extraordinary, these stories are for you.
- Sales Rank: #441680 in eBooks
- Published on: 2013-06-18
- Released on: 2013-06-18
- Format: Kindle eBook
From Booklist
Isenberg—academic, entrepreneur, and consultant—sets out to encourage readers to seek an entrepreneurial challenge, or what he calls “entrepreneurial choice,” because while entrepreneurship is extraordinary, it is nonetheless possible. He also aims to redefine entrepreneurship “in terms of value creation and its capture, rather than business ownership per se.” The author sees important consequences of his new approach to entrepreneurship as he devotes chapters to income inequality and entrepreneurship, government and its influence on entrepreneurs, and his belief that youth and inventiveness are not requirements. With a wide variety of case studies and his global experiences with entrepreneurship, Isenberg concludes with characteristics of entrepreneurs. These include awareness of their own capabilities, as well as the information or assets necessary to capture extraordinary value, all of which lead them to face adversity and assume widespread risks in creating something valuable that is missing from the marketplace. This thought-provoking book will contribute to ongoing debates in the education of future entrepreneurs, those young and not so young. --Mary Whaley
Review
There is a guy called Daniel Isenberg -- Worthless, Impossible and Stupid is broken into four parts and ... I will be publishing some insights from each part. The book takes the reader on a fascinating journey around the globe with some of the world's most successful entrepreneurs. Their successes are explained in conversation with Isenberg, each laced with key lessons for budding entrepreneurs.This week we begin with part one, where Isenberg busts three key myths about who an entrepreneur is... I found it relevant for Africa's tech scene. Michelle Atagana Ventureburn, 6/28/13
“His advice is as applicable to entrepreneurs as it is to managers looking to shake up their departments.” — Most Notable Books List of 2013, Business Digest
“… Isenberg excels at breaking down the many elements that lead to entrepreneurial success.” — BARRONS
“a thought-provoking book about the contrary nature of successful entrepreneurs.” — Financial Times
“Isenberg effectively captures the varied landscape of new and innovative work, and inspiring stories and coverage of many different kinds of businesses fully support his premise.” — Publishers Weekly
“There is a guy called Daniel Isenberg — I don’t really know him but he is a big deal and writes and talks a fair bit about entrepreneurship. He’s written a book that I feel touches on some interesting points about entrepreneurship. Brad Feld, co-founder of Techstars, likes it so there must be something to it.” — Michelle Atagana, VentureBurn.com
“… a fascinating book… it will challenge your assumptions about what it takes to be a successful entrepreneur and provide valuable insights into why and how those who are successful made it work. If you've ever wondered what it takes to become a successful entrepreneur, you'll want to read Worthless, Impossible, and Stupid: How Contrarian Entrepreneurs Create and Capture Extraordinary Value, by Daniel Isenberg.” — Jeanne Destro, USA Today
“… there is an abundance of great nuggets of knowledge in this book as well as frank confessions about how hard it usually is to create truly great companies. That kind of intelligence is not worthless, impossible or stupid.” — The Financial Times
“provocative, insightful, inspiring, and fun to read.” — Choice magazine
“… presents a part motivational and part self-help guide for aspiring entrepreneurs.” — Book News
“In ‘Worthless...’ Daniel Isenberg shatters the following two misconceptions: 1. The myth of the stroke of genius: most value creation is produced at the level of what Isenberg calls “minnovation”: small and unexpected twists on existing ideas, business models or products and services. 2. The myth of the expert: experts are not always the best positioned to be innovative. A novice’s fresh perspective can help to overcome barriers and discover opportunities that experts may be blind to.” — Business Digest
ADVANCE PRAISE for Worthless, Impossible, and Stupid:
Brad Feld, Managing Director, Foundry Group; cofounder, TechStars; and author, Startup Communities: Building an Entrepreneurial Ecosystem in Your City—
“Worthless, Impossible, and Stupid is a thought-provoking book for anyone interested in understanding the deeply contrarian nature of many entrepreneurs. It challenges the status quo definitions of entrepreneurship with substantive examples from all over the world. A must-read for building start-up communities.”
Jonathan Ortmans, President, Global Entrepreneurship Week, and Senior Fellow, Ewing Marion Kauffman Foundation—
“Daniel Isenberg’s bottom-up insights are a must-read for policymakers around the world racing to build smarter environments for starting and scaling firms.”
Esther Dyson, Chairman, EDventure Holdings—
“Worthless, Impossible, and Stupid confounds the stereotypes. The book vividly illustrates that entrepreneurs don’t all look like Steve Jobs or Mark Zuckerberg or Sergey Brin; they don’t all live in Silicon Valley. And most important, they do more than create start-ups that make novel products or solve problems; they build companies of lasting value.”
Jim McCann, founder and CEO, 1-800-Flowers.com and Celebrations.com—
“Daniel Isenberg manages to turn the words ‘worthless, impossible, and stupid’ into the highest form of praise by getting inside the minds of real-life entrepreneurs to explain how counterintuitive thinking (and a sometimes inexplicable indifference to failure) have helped create and often revolutionize global business.”
Yossi Vardi, serial internet entrepreneur—
“Daniel Isenberg’s book sheds a whole new light on the nature of entrepreneurship, of entrepreneurs, and of business opportunity more broadly. Original, thought-provoking, and fun to read, it blows up a lot of truisms about this important topic.”
Linda Rottenberg, cofounder and CEO, Endeavor Global—
“Calling all contrarians: If you’ve taken great risks, confronted skeptics and setbacks, and unleashed extraordinary value, you’ll recognize yourself in this important new book by Daniel Isenberg. Worthless, Impossible, and Stupid perfectly captures the ups and downs of the entrepreneurial path, felling a great many myths along the way.”
Calestous Juma, professor, Harvard Kennedy School; author, The New Harvest: Agricultural Innovation in Africa—
“This book is a real threat to conventional theories on business development. Its lessons apply in many other fields of human endeavor. Anyone interested in changing the world for the better should read it.”
Grégoire Sentilhes, CEO, NextStage; cofounder, G20 Young Entrepreneur Alliance—
“Like Steve Jobs, Jeff Bezos, François Pinault, Diego Della Valle, and so many other great entrepreneurs, Daniel Isenberg is a contrarian and provocative thinker. Worthless, Impossible, and Stupid accurately demonstrates why being an outstanding entrepreneur is not about age, expertise, or reason; it is about vision, courage, and mind-set.”
Akin Öngör, former CEO, Garanti Bank—
“In this provocative book, Daniel Isenberg shatters stereotypes and clarifies the often misunderstood concept of entrepreneurship. His inspiring real-life examples prove that true value is often found where many can only see something that seems worthless, impossible, or stupid.”
Sir Ronald Cohen, cofounder and former Chairman, Apax Partners—
“Valuable, practical, and insightful, Daniel Isenberg’s new book is a very helpful and illustrative guide to the entrepreneurial journey.”
Maria Pinelli, Global Vice Chair of Strategic Growth Markets, Ernst & Young—
“Entrepreneurship is so important for a healthy economy: It creates jobs, supports communities, and builds a better working world. Worthless, Impossible, and Stupid provides a sophisticated and provocative narrative on this crucial topic.”
Nick Lazaris, former CEO, Keurig—
“Entrepreneurs take note. Daniel Isenberg makes his contrarian point clear in this provocative book: Entrepreneurs need to be as innovative in finding ways to capture value as they are in creating it. This will be good for them individually and for the society that benefits from entrepreneurialism.”
Mikko Kosonen, President, The Finnish Innovation Fund Sitra—
“Daniel Isenberg brings us back to the roots of entrepreneurship: It’s all about identifying, creating, and capturing value, in areas not seen by others and that may seem worthless, impossible, and stupid. But there are real rewards for the hard-headed entrepreneur—and for the rest of us!”
About the Author
Coming soon...
David Drummond has narrated over seventy audiobooks for Tantor, in genres ranging from current political commentary to historical nonfiction, from fantasy to military, and from thrillers to humor. He has garnered multiple AudioFile Earphones Awards as well as an Audie Award nomination. Visit him at drummondvoice.com.
Most helpful customer reviews
13 of 15 people found the following review helpful.
A brilliant analysis of entrepreneurship as "the contrarian perception, creation, and capture of extraordinary value"
By Robert Morris
Let's say that a Mount Rushmore type of monument for entrepreneurs will be constructed and nominations are requested. Which names immediately come to mind? Chances are, none of them would be among the several listed by Daniel Isenberg in the Conclusion section of his book, written with Karen Dillon. So what? In my opinion, a great deal. Most books about entrepreneurs focus on business celebrities such as Jeff Bezos, Bill Gates, Steve Jobs, Herb Kelleher, Larry Page and Sergey Brin, Howard Schultz, Fred Smith, Ted Turner, and Mark Zuckerberg. They did indeed begin with acorns that became oak trees and do indeed exemplify what Isenberg characterizes as "the contrarian perception, creation, and capture of extraordinary value." However, Isenberg's book is not about celebrity. His focus is on a contrarian mindset and process he has observed in entrepreneurs he has personally known in 45 countries.
"Worthless is about how so many people from around the world see hidden value in situations where others do not. These people then use that perception to successfully develop valuable products and services that customers usually initially don't think they want, and ultimately go on to realize extraordinary value for themselves." So what? Isenberg's response: "A paradox: despite their statistical rarity in creating extraordinary value, most of the entrepreneurs in these pages will strike you as ordinary people like you and me. The differences between them and us are less a matter of who they are or what resources they have than of what and how they think."
So, Isenberg has two objectives and achieves both: To "catalyze" entrepreneurial aspiration so that as many of his readers as possible to make "the entrepreneurial choice": extraordinary value creation, and, to "reframe" entrepreneurship in terms of value creation and capture rather than business ownership per se. That is, to understand and appreciate the men and women he discusses as people who are (in most respects) "like you and me" rather than in terms of the companies they have created. I presume to add an opinion of mine: Those on whom Isenberg focuses in this book share much in common with Bezos et al listed earlier insofar as having a contrarian mindset and process is concerned. For example, they also saw and realized value where others thought there was none, and Also acted in ways that were contrary to what almost everyone thought was worthwhile. Selling books online? An airline serving major cities in Texas whose fares were competitive with those of...Greyhound and Railways? Overnight delivery of mail and parcels that "absolutely, positively have to be there"? Ideas such as these are worthless, impossible, and stupid.
These are among the entrepreneurial stories in the book of greatest interest and value to me:
o Robert Wessman's generic pharmaceuticals company (Pages 12-15)
o Miguel Davila's cinema chain (16-21)
o Atsumasa Tochisako's money-transfer service (42-51)
o Carl Bistany's educational management ventures (72-82)
o Will Dean's adventure challenge events (100-107)
o Mary Gadams's RacingthePlanet (137-139)
o Vinod Kapur's chicken farming (142-151)
o Mo Ibrahim's cell phone company (152-154)
o Iqbal Quadir's Grameenphone (155-167)
o Mei Zhang's experience with cultural tourism (187-193)
o Dean Kamen's Segway (195-196)
o Itai Isenberg's nightclub business (217-219)
As Eisenberg suggests throughout the book, the contrarian mindset and process are not for everyone but global giants such as GE as well as start-ups need to include both and indeed the success of the former and the survival of the latter depend on it. Consider these remarks by Jack Welsh at a GE annual when its then chairman and CEO explained why he admired small companies and hoped that GE would become more like one:
"For one, they communicate better. Without the din and prattle of bureaucracy, people listen as well as talk; and since there are fewer of them they generally know and understand each other. Second, small companies move faster. They know the penalties for hesitation in the marketplace. Third, in small companies, with fewer layers and less camouflage, the leaders show up very clearly on the screen. Their performance and its impact are clear to everyone. And, finally, smaller companies waste less. They spend less time in endless reviews and approvals and politics and paper drills. They have fewer people; therefore they can only do the important things. Their people are free to direct their energy and attention toward the marketplace rather than fighting bureaucracy."
As Welch well knew, Thomson-Houston Company and Edison General Electric Company merged in 1892. Two small acorns became one larger than either but still an acorn. Thomas Edison sold all of his shares two years later but continued his association as a consultant. Over time, driven by its entrepreneurial spirit, GE became an oak tree through diversification of products and services based on research by the first industrial laboratory in the United States and through acquisitions. Presumably there were many occasions when GE's bold initiatives were widely viewed as worthless, impossible, and stupid. Once again, the company needs such initiatives as do countless others among the Fortune 100.
When concluding his book, Daniel Eisenberg observes: "Entrepreneurship is not about the likely or the average; it is about the possible, the extraordinary. It is about victory. The entrepreneurs who have graced these pages have shown me, and I hope you, a higher possibility." Well-said.
6 of 6 people found the following review helpful.
Good advice; reads like a draft
By capamazon
I like this book and found it useful. I recommend it.
I bought the Kindle edition of this book.
The Kindle opens up to an inside page (I forget which page, something like page 4 or 5 or so.) I think every Kindle book I've bought does this. I've often wondered why the do not open to the "cover" during the first "opening" of the ebook.
The cover photo is low-resolution and looks jaggy. The image looks as if someone picked up a dirty printed edition, creased it in half and then scanned it. Not sure if this is intentional or what. It looks wrong.
I winced while reading the third paragraph, which states "tough bloody s***." So what's the deal with this? Is this book about colon cancer? Hemorrhoids? The author quotes a businessman later in the book as saying this phrase. I would have found a better quote. It comes off as low-class.
"How this book came to be" is a subsection in the preface. It reads like what I'd expect to see in the "About the author" section and seemed out-of-place at the beginning of the book. "Israel" is mentioned 23 times in about five pages, which struck me as excessive.
Fortunately, once you get past the preface the book gets on track. Notes I took down include:
- entrepreneurship is the contrarian perception, creation and capture of extraordinary value.
- copying existing business models is great.
- ideas are one thing, but real value is in execution
- Innovation can be small yet profitable (Cinemex example)
- upscale folks as well as the poverty-stricken (surprisingly) customers can make one rich.
- You don't have to be an expert in a field to start a business. (Clutch example)
- look for undervalued opportunities
- The author lists at least two examples where unions are presented as entities to be beat down or tricked. This is not exactly a labor-friendly book. But if you want to get rich, I suppose you'd view labor as an impediment.
- "Face-book" and "Facebook" ... why the two different spellings?
- Entrepreneurs "buy low" (so to speak) and "sell high" by transforming "low-value" ideas or undervalued businesses into more worthwhile entities. I like this stock trading analogy here.
- The author references his own book too much: "In Worthless, Impossible, and Stupid, you will learn ...," "Worthless contains the stories of entrepreneurs who ..." I feel like I'm reading a book review of this book, *while* I'm reading the book. Don't tell me what you're going to tell me later in the book, just tell me straight away.
I got a lot out of the books but it needs more polishing. It reads as if it were rushed to press. It could use some tighter editing.
My favorite business books to date are: 1) "How to Get Rich" by Felix Dennis 2) "Screw It, Let's Do It" by Richard Branson and 3) Anything you Want by Derek Sivers.
2 of 2 people found the following review helpful.
Surreal
By Jorge
I am on the book and I know Dan personally through his authoring of the PACIV's HBS Case Study. With that said, how he is capable of depicting so clearly the navigation of one's inner self through the e-ship journey is mind-boggling. It proves that many elements of human behavior, as contrarian as they may seem, are more natural than we structurally think they are. As true as it is that our behavior is based on the context that we are in and as we can take the same concept to the business world and assume e-ship behavior is based on the business context and landscape in where it evolves, it is amazing how Isenberg communicates in plain English and in a fun way to read how that behavior and that context may not be so different from one place to the other, if you peel off a few onion walls...
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