Preface to 4th Edition

The first edition of this book was published in the mid-80s. In those days entrepreneurs were seldom held in high regard. Big organizations were the employers of choice for people interested in business and management. The second and third editions were published in the mid-90s. By that time, in the USA, a good number of entrepreneurs had become household names, even national heros or heroines. During these decades the amorphous world of starting and building new enterprises solidified. Start-ups became a legitimate subject of serious study for academics and venture capitalists alike. The apparently random nature of business success stories was analyzed in depth in an effort to tease out patterns or principles that could be replicated, even taught. For example, in the '80s, few business schools offered new enterprise courses; today, few don't.

The Ten Commandments herein seem to be standing the test of time. Earlier editions are now in five languages. Yet refinements here and there are always desireable as I continue to learn from recent ventures. The present edition attempts to stay true to Commandment Ten, namely Anticipate Incessant Change...

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