6 Myths about Entrepreneurs You Should NOT Believe

Living a life as an entrepreneur seems to be awesome. Besides being your own boss and financially independent, you get the opportunity to change the way things are done and contribute to the society. Not only that, you can also create more jobs which will give significant impact on global economy. With all the perks coming from being an entrepreneur, no wonder that many individuals are aspired to become one. And maybe your dream too, right?

Starting a business and launching your own startup successfully requires you to have a great patience and thoroughness. There are a lot of things to learn before jumping on the entrepreneurship bandwagon, such as customer service skill, leadership skill, marketing skill, as well as inter- and intrapersonal skills.

There is no doubt that being an entrepreneur is a big decision you will have to take. Before sailing into the business, you might have to deal with insecurities and worries that go around entrepreneurship. During the ups and downs of an entrepreneur life, you might even feel like going back to your old stable job instead. Indeed, not many people are ready to leave the convenience of getting paid to giving paid.

Another thing that often hinders one from becoming an entrepreneur is the myths about entrepreneurs. Here are some of them and the truths that you should know:

01   Entrepreneurs are typically in their 20s

This is not true – the average age of an entrepreneur starting a business is in their late 30’s and 40’s or older. How old do you think when Reid Hoffman founded LinkedIn or when Ray Kroc successfully became the richest man in America?

Ages when individuals start their own gigs can vary. There are many entrepreneurs and business owners who started late but are able to prove that they can be very successful. You should keep in mind that maturity and experiences coming with age can help a lot in the process of making more mature plans and better risk-taking.

02   Entrepreneurs are born – not made

Many people believe that entrepreneurs and successful businessmen possess innate, genetic talents. But experts agree that most entrepreneurs were not born, they learned to become one instead. Likewise, there are more and more subjects being taught in university or college that supports this point, or research proves that entrepreneurs are people who work hard and smart. Entrepreneur is successfully being taught among individuals. So, you can conclude that entrepreneurs can be born and made, or a mixture of both. It depends on your skillsets, determination, and strengths.

03   College dropouts make for greater entrepreneurs

It is true that some of the world’s most successful entrepreneurs do not have a high formal educational degree, or even drop out of school. However, this does not necessarily mean they can make better entrepreneurships than their counterparts. Education is still important even though formal education might not be the smartest move for entrepreneur. But you need to learn the skills and tactics of being ‘real entrepreneurs’.

04   You need to have an idea before choosing to be an entrepreneur

Ideas are rather crucial aspect to achieve success. But a mere idea will not go anywhere without any action. An idea should be executed with complete dedication. That being said, you do not need a great and spectacular ideas at first. What you need is a desire and drive to be an entrepreneur along with strengths of an entrepreneur such as resilience. This will help you remember why you need to go along the ups and downs. It will also remind you to not give up in the middle of your achievements.

If you already have the strongest will, any ideas be it out of the box or old one, it can be a resource for money – in this case your business.

05   Entrepreneurship is only for the rich

As you might see, many people believe that starting a business or an entrepreneurship needs a great deal of money. Some might be, but most of times, we just need to cleverly think in how to generate funds. It can be from investors or your own savings.

Initially, co-founders of Flipkart, Sachin Bansal and Binny Bansal, lived on a pittance. They are not rich, neither come from a rich background. They are successful founders lived in a mere Rs 10,000 per month but they know how to get fund to leverage their business. Another example is Jeff Bezos, founder of Amazon. He first built his office in his garage. So, no need to question more, entrepreneur is more about bravery and skills, not money.

06    Entrepreneur is the only way to become rich

There is no doubt that most of top billionaires are entrepreneurs. But if you think it is the only way to become rich, then maybe you live in a complete lie. Microsoft, Facebook, Google, and many giant companies have created their employees into millionaires. They offer awesome salary and so are the employee, they know how to spend their money.

The point is, you should know yourself well and make the most of it. Being an entrepreneur is not the only way to become rich. For example, if you are well versed with writing, you can make fortune by being a best-seller writer. If you are pretty handy with coding, you can settle as a product developer.  

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