American Dream

Rockstar Entrepreneurs: Beware the Narrative

Post originally appeared on RocNext blog.

Localized small business is the antithesis of vogue; today, the rags to riches entrepreneur—the Open Source American Dream—is what’s trending. 500,000 startups are launched each month in the United States, and popular culture is actively responding.

We see ABC’s Shark Tank. We listen to startup podcasts. We read magazines (and some of us dream of making INC’s annual 30 Under 30 Coolest Entrepreneurs list).

And while the myth of the young adult entrepreneur as the dominant demographic has been busted (over 80% of new entrepreneurs in 2013 were age 35+; 67% were 45+), one cannot deny the impact young entrepreneur success stories are having on other young adults: Mark Zuckerburg, Drew Houston, Jordi Munoz.

Instead of learning guitar, writing music, and starting garage bands, millennials are now learning code, writing software, and starting garage businesses.

This is good, of course.

We want our young people innovating and raising capital. We want our young minds creatively destroying customer pain.

But the rags to riches narrative, left unchecked, can mislead some talented young business men and women down distracted paths, blinding them for many years to more immediate, local opportunities. (more…)