Being an entrepreneur comes with its set of wins, challenges and adaptations. However, there are common misconceptions people have regarding what its means to be an entrepreneur. Below are 5 myths of entrepreneurship explained.
People think entrepreneurs are a special type of person: People aren’t born entrepreneurs. Entrepreneurs are made. Anybody can be an entrepreneur. What it takes is having the guts, ideas and a drive to carry out your business plan. Entrepreneurs build their own dream instead of other peoples dreams. They have the fire to not give up and to keep pushing. That doesn't mean they don't give up, but they are not afraid to get up and try again. They are bold enough to quit their jobs to focus on their dream.
Entrepreneurs are risky people and are big risk takers: Any business is a risk. Life is a risk. Entrepreneurs aren’t necessarily risky people, but they take calculated risks. They do their homework and enough research before trying out something new. Entrepreneurs are professionals problem solvers, community investigators.
The myth of freedom: People think that entrepreneurs have a free lifestyle. This is not true. Entrepreneurs tend to carry their work everywhere they go. They always have work to do. How entrepreneurs get freedom is by doing the all the work that is necessary and doing it up front. Getting all the systems and processed in place. They spend time getting a team that sees their vision and they are able to carry out the vision.
Being an entrepreneur means you’re the boss: The boss of you when you’re an entrepreneur are your clients. They are your biggest stake holders. Their needs and their desires are at the forefront. This is the biggest misconception of entrepreneurs. Entrepreneurship is not being a boss, it’s being a servant. It means you are now willing to exchange your time to serve others.
It requires money to be an entrepreneur: An entrepreneur does not need an investor. Their first investor is themselves. You have to use what you have to get what you want. An entrepreneur looks at their surrounding and creates what can bridge gaps they find. You have to have a business plan before going after the funding it would take to operationalize that plan. Each dollar you have should have a specific use. You don’t need to have all the money to start!
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