Top Myths of Entrepreneurship

Updated: Jul 4, 2021

Have you ever wonder what makes a great entrepreneur? Or maybe you've considered becoming one but is too afraid to do so because of the myths circulating around you. Here are some of the top myths of entrepreneurship that you should know.

  1. You are born to be an Entrepreneur.

This is probably the most common misconception about entrepreneurs. There is this notion that you are either born with the set of skills that will make you an entrepreneur or you don't. In reality, it is not innate to us to have specific skills to lead a company or become a leader. All of these are learned skills. Almost anyone can become an entrepreneur if they put effort and dedication to know all the necessary skills to become one. Some people get discouraged by seeing other people's smooth sailing and their business roaring. Still, it takes countless hours of planning, thinking and executing for entrepreneurs to achieve their desired outcomes.

Another aspect that most people take away from these myths is the notion of the people you surround yourself with. Let's say that people are born to become entrepreneurs (which they are not). It is taking away the credits to those who mentored them and helped them become entrepreneurs. Again, being a great entrepreneur is a skill that can be learned and improved over time and not a natural-born ability.

2. Entrepreneurship guarantees money and freedom in an instant.

Most people associate entrepreneurship and business with instant freedom and guaranteed money. However, not all entrepreneurs become successful. Starting a business does not automatically mean you will generate a bottomless amount of money and freedom, especially in the beginning years. People should plan a year for their business without anticipating any profit because the first few months of business are just laying the foundation for the business.

With the right amount of dedication and a lot of hard work, a business can survive and even thrive. However, challenges and obstacles are inevitable, and to expect that any idea can flourish into something spectacular is just setting the bars very high that could eventually lead to disappointments. Also, being an entrepreneur does not guarantee freedom; one needs to work to reach the point where you can travel and have free time and still have a strong flow of income.

3.You alone owns all the responsibilities.

While many businesses are founded and managed by one or two people, it is run by more than two for the majority of the cases. Yes, starting a business takes a lot of time, and it comes with a significant amount of responsibilities. Still, the truth is, it is not just the entrepreneur who needs to shoulder all of the duties. This is the reason why choosing the right people to work for you and with you is critical because you need people that you can rely on when things get hard, people who can get things done properly and efficiently. Being an entrepreneur also means being a leader and one of the many responsibilities of being a leader is knowing when and how to delegate.


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