Debunking The Top 6 Entrepreneurship Myths

Are you an entrepreneur? Well, then you must be already aware of the grueling journey that you are a part of. There are diverse bizarre notions that can play a huge role in derailing the journey of your successful entrepreneurship. Many aspiring entrepreneurs may stumble if they come across the various myths that have been crafted over time. Given below are few of the common myths that have been debunked for you.

6 Entrepreneurship Myths Debunk

Entrepreneurs are supposed to stick to the individual projects irrespective of any other situation

No matter which profession you belong to, it is a fact that you have grown up listening to the aphorism, ‘Never Quit.’ However, the truth is that successful people do not always tend to stick to this aphorism. It is true that you should never quit what you are doing but the main problem arises in the interpretation.

Just because you have been taught not to give up in your life does not mean that you will keep sticking to a project when you have a proper idea that it will not work at any cost. Entrepreneurs are considered to be like the travelers as they do not quit moving to the destinations that they desire. However, if you see that your plans are not going to be successful, you have to understand and abandon those paths.

Entrepreneurs should invent if they are dreaming of becoming successful

This is something that is absolutely wrong. Entrepreneurship is not about inventing something. It is true that a few entrepreneurs might be interested in inventing something but this obviously does not mean that all entrepreneurs have to follow the same path. Invention comes naturally to the entrepreneurs as it is a perfect combination of creativity, expertise, and the desire of finding useful solutions to a number of problems.

It is about finding a solution that already exists but you are interested in finding a much better and easier one. Therefore, you need to forget this myth and understand that invention is not the only objective of the entrepreneurs, but it can definitely be an important tool that they may use in order to become successful.

Entrepreneurs hop from one job to another

There has been a false belief that all the job hoppers are the entrepreneurs or the entrepreneurs are nothing but people who hop from one job to another. This is not completely correct as both the sentences are not related at all. If a person is restless and he keeps shifting from his job, he cannot call himself an entrepreneur. Moreover, it will be perfect if he calls himself a restless person who has not found the right place to work.

If you are interested in becoming an entrepreneur, it is important that you stay focused in a single field for a long time so that you can gain expertise in that particular field. Researchers have revealed that many entrepreneurs are known to stay in the same company so that they can gain a complete knowledge about the dynamics of a business.

This is going to help them when they are going to launch their own business. However, aspiring entrepreneurs will not stay longer than what is necessary. This doesn’t necessarily mean that the entrepreneurs are actually job hoppers.

Entrepreneurs live an easy and interesting life

It is true that most of the entrepreneurs do not report to managers or supervisors like the normal people who are going for regular 9 to 5 jobs. However, entrepreneurs still have to report to a few bosses. If you have decided to plunge into this huge world of entrepreneurship, you need to understand that it is one of the most demanding jobs that are available. Entrepreneurs work harder than the people who are engaged in the nine to five jobs.

They have to report to the banks or the investors who have funded the business. Clearing the debt is an important task that the entrepreneurs have to keep in their mind all the time. Entrepreneurs have to provide unbeatable propositions to the customers at all times. They have to beat the excessive competition in the marketplace to assure that they have the customers by their side always. Also, you need to remember that pleasing the customers is not an easy task. Therefore, you need to understand that entrepreneurs do not live an easy breezy life. They probably have more work than you can imagine.

Entrepreneurs require a perfect business plan when they start

It is true that most of the entrepreneurs have clear goals or plans when they are starting. However, most of the entrepreneurs do not have a proper idea as to how they can satisfy the entrepreneurial cravings that they have. There are times when entrepreneurs do not know where they are going to end up.
There are chances that an entrepreneur starts somewhere in Europe and ends up in Asia. Entrepreneurship can never be a plan that is fixed. Rather, it is one of the most flexible processes, which helps the business owners to fail and succeed at the same time. Entrepreneurs cannot predict the future but it is in their hands to create it.

There is no need of creating rigid goals as they can limit the capabilities that you have.

Entrepreneurs are the risk takers

It is true that the entrepreneurs are big risk takers, but this particular myth has implied that people take risks only if they are interested in entrepreneurship. This is something that has scared a number of people away from being entrepreneurs. You need to understand that risk is almost everywhere and when you are becoming an entrepreneur; you are risking your own money.

Instead of getting scared and worrying about all the risks that are associated with a business, you have to focus on mitigating the risks, instead of running away.

Conclusion : 

If you are interested in entrepreneurship and you have not tried your ideas, you need to understand the things that are stopping you. It might be possible that your thoughts are being derailed by the various misconceptions, which are false or have been interpreted in a wrong manner. Consider these debunked myths, and you will be good to start.