David Choi Pens Book for Aspiring Entrepreneurs

LMU is fortunate to have one of the leading experts in entrepreneurship among its faculty ranks. And now, even those without ties to the university can gain valuable insights from David Choi, Conrad N. Hilton Chair of Entrepreneurship and director of the Fred Kiesner Center for Entrepreneurship.

Choi has written and published a handy guide titled "Starting Your Entrepreneurial Journey," which helps aspiring entrepreneurs develop the right mindset and perspective to kickstart their entrepreneurial careers. This book is ideal for incoming college students or even high school students and incorporates Choi's thoughts and observations derived from 20+ years of researching, teaching, and advising entrepreneurs.

Choi currently teaches "Fundamentals of Entrepreneurship," an introductory undergraduate course, as well as the new "Venture Capital Fund" course that allows students to function as fund managers and invest real money into start-ups. Under his leadership, LMU's undergraduate and graduate entrepreneurship programs are among the highest-ranked in the nation. Choi took a moment to talk about his new book and why there has never been a better time to be an entrepreneur.

What inspired you to write this book?

I always wished there was a basic book on entrepreneurship that had a lot of useful information in a very short, easy-to-read format. For this book, I put together 48 simple lessons on what I thought was important to understand about entrepreneurship (mindset, attitude, purpose, confidence, hard work, empathy, and so on). Of course, I also get into the entrepreneurial process like identifying problems, finding solutions, the lean start-up, and the business model as well as traditional management topics like team, culture, financing, etc. Most of the content is quite basic, but I've found that most people don't do the basic things right.

Who should read this book and why?

The book is designed for students or first-time entrepreneurs who are curious about what entrepreneurship is or how to get started. I hope that it's a fun and easy read for young students. I think anyone from age 10 to 30 could read it and find some aspects useful.

How has the entrepreneurship landscape changed over the last 20+ years?

There has never been a better time to be an entrepreneur. The upside for starting or joining a start-up is bigger than ever while the downside is smaller than ever. There are so many sources of funding, accelerators, and incubators, as well as service providers and resources to help you succeed. Of course, these days, we also have AI, which offers great opportunities as well as threats!

What's your biggest piece of advice to budding entrepreneurs?

In the book, I quote: "The biggest mistake that entrepreneurs make is never becoming one." I would urge everyone to exercise and strengthen their entrepreneurial muscles. Get involved in a promising project, whether it's yours or someone else's, to learn more about business and how to be a great team member/leader.

If you had to name one quality or attribute that makes a successful entrepreneur, what would it be?

Well, it takes more than one. I think it might start with aspiration - a desire to achieve and make a difference. Then, I would say mindset including a positive attitude and a willingness to work hard. But you won't get anywhere until you have the courage to go for it without being detracted by fear of failure.

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