In fact, she has always told it like it is. So much so that when she was young, she had the nickname “Lucy,” as in the character from Peanuts who set up a “The Doctor Is In” booth and started dispensing advice to anyone who wanted it.
As an investment banker, she earned a reputation for telling entrepreneurs “how it is” – she was known for dispensing tough love with a hard emphasis on the tough. (Not so much on the love.)
There’s a method to her madness though – why waste anyone’s time (the entrepreneurs’, the investors’, the hopes and dreams of countless family members and friends) when in fact it’s the entrepreneur who shouldn’t be an entrepreneur in the first place?
Fortunately for the rest of us, she took the time to sit down and capture those thoughts in her book, The Entrepreneur Equation which is an excellent primer on who should — and more importantly who should not — be an entrepreneur.
This book is for anyone who is thinking about starting a business and wondering if they have the right stomach for entrepreneurship. It’s an excellent compliment and prequel to The E-Myth Revisited by Michael Gerber, one of the best business books of all time.
It’s a great book, and one which I’ve already recommended to clients and friends. I agree with almost everything Carol Roth writes in the book, only she says it much better than I ever could.
My biggest disagreement with her in general is on who is going to win the Superbowl next year, which is clearly going to be my Redskins and not the Chicago Bears. (She is a big Chicago Bears fan.) But hey, no one is perfect.
Here’s my quick (2 minute, 55 seconds) video review:
Links mentioned in the video:
- Entrepreneur Equation: Evaluating the Realities, Risks and Rewards of Having Your Own Business by Carol Roth (affiliate link)
- E-Myth Revisited by Michael Gerber
- Carol Roth’s website