Like pretty much any industry, entrepreneurship is plagued by myths. These myths, usually held by those who have never been an entrepreneur, can be damaging to the field as they can stop people from going out and starting their own business, or it can lead to damaging mistakes in their business if they believe something that isn’t true. While getting rid of these myths altogether is a difficult task, we can at least discuss them to help people get a better understanding of entrepreneurship. Here are a few myths commonly found in entrepreneurship.
Entrepreneurs Aren’t Quitters
This couldn’t be more wrong. While yes, most successful entrepreneurs never truly give up, there’s still plenty of quitting to be done. First off, they likely have to quit their day job if they want to start a business. Some would consider this the pivotal quitting point on an entrepreneurial journey. Beyond that, most entrepreneurs quit at least one of their businesses at some point down the line. If they’ve formed a business that isn’t successful, sometimes that’s the only thing they can do. From there, they pick themselves back up and start fresh, using everything they’ve learned from their failures to make something better.
Becoming An Entrepreneur Requires A Lot Of Money
Some people believe that to start a business, an entrepreneur has to have a lot of money and that they get that money from sources such as venture capitalists and angel investors. While this can sometimes be true, it’s certainly not the rule. In fact, many entrepreneurs use their own personal finances to fund their businesses.
Entrepreneurs Need To Be Connected
While yes, knowing the right people can increase an entrepreneur’s odds of success, it’s not necessarily required. All you really need to start a successful business is grit and determination. Think about the first-generation immigrants who came to America back in the day and all started their own businesses. They didn’t know anybody, they just had a dream. That’s what much of America is built on to this day.
Entrepreneurs Know What They Want And How To Get It
It’s easy to assume that entrepreneurs have all of their business dreams laid out in their heads, and that’s how they find success, but in reality, many are just making it up as they go. Even the most successful entrepreneurs probably only started with an idea and had to figure it out from there, likely failing several times before actually gaining any real success. At the end of the day, most entrepreneurs follow their gut and figure it out as they go.