11 Common Misconceptions about Entrepreneurship

Misconceptions about entrepreneurs, myths
  1. You’re born with it!
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    Many folks believe that you are simply born as a business person. That may be true for several people, however, that doesn’t include those who weren’t born with the business skills. A successful entrepreneur’s skills are built through more of “nurture”, less through  “Nature”. If you’re motivated and have a good plan, you can also become a business person as long as you never quit and see your plan through.

    It may appear that some individuals were born natural leaders, or were born with higher traits to become entrepreneurs, however essentially, entrepreneurs are available in all shapes and sizes. Introverts, extraverts, “idea people” all have equal stakes in businesses and their development; anyone may be a businessperson, given they use the correct way of thinking and undying dedication.

  2. It’s EASY!
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    It’s a LOT of labor. If you think that having a nine to five could be a heap of labor, being a business owner is easily double. Some days work Never ends, clients have demands, and nobody tells you after you head to open your own enterprise that you have to fill in for the  CEO, the CMO, the salesperson, the client service rep, the manager, and HR. YUP, it’s a ton of labor.
  3. You’ll have endless amounts of freedom!
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    Yes, you actually have more freedom and flexibility, however, work must get done, customers still have to be served, and bills still have to be paid. Owning a business could be a cycle of commuting, client handling, client-serving and growing your business.
  4. As a business owner, it’s cost-efficient to try and do everything yourself
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    Perhaps at the initial stage, you’ll be able to pay attention to the account books, the product, the Marketing, and the operations, however at some point of time, it slowly goes ends up being the additional work.  Time is best spent functioning on the business than doing tasks inside the business that could be delegated. This point in time will arrive sooner than you expect, especially once your sales start growing.
  5.  The idea or the business plan is EVERYTHING.
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    It’s true that a great plan will offer you entry within the entrepreneurial world. You’ll attract interested investors, and you’ll have a foundation on that to make your business. However, if an idea is not properly executed or even planned, it may not go as smoothly as planned.
  6. All Entrepreneurs are rich
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    The primary thought of everyone is that all entrepreneurs are affluent. We all picture them as sharply dressed with luxury cars, royal homes etc. However, the path to even make a business profitable is not an easy one. Everything from sound business planning, market validation, and surveys are to be done just before a business starts. After that everything is to be handled as it comes, and very few can do it well.
  7. Entrepreneurs are successful
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    We all have set our minds with the fact that entrepreneurs always achieve success in their field and each business person ought to achieve success in their several industries. However the reality is some things else, there are multiple people whose lack of information, efforts, and luck don’t support them to achieve life.
  8. Entrepreneurs don’t have bosses
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    Corporates and companies have CEOs, managers, department heads, HRs, etc. whereas most of the young entrepreneurs show pride that ‘We don’t have bosses’. However, it is often foreseen that they’re answerable to themselves and bureaucrats at the state level and national level.
  9. Entrepreneurship is only for those who follow their “passion”:
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    It is true that- Entrepreneurs follow their passions. However, that does not mean that we have to give away our passions if we’re working for someone else, nor does it mean that ALL entrepreneurs started their business out of a “passion”.
  10. The sole demand could be a sensible plan.
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    Many people believe that all it takes to succeed as a business is to possess that one fantastic plan. This notion isn’t entirely false, but it’s not all inclusive. Even the absolute best ideas — ones with the potential to disrupt a whole industry — need correct execution to become reality. Concepts are necessary, however designing, talent, leadership, communication, and a bunch of different factors are critical too.
  11. Beginning an entrepreneur guarantees fun
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    The charm of breaking out of the normal, 40-hour work week attracts several to the prospect of starting their own business. What several people fail to realize is that by leaving behind their work schedule, they are exchanging them for new demands on their time, which would probably be more taxing. Sure, there’ll be additional freedom in some respects, however, entrepreneurship usually needs sacrifices. It will consume a part of your life; because the work doesn’t finish once the clock strikes five p.m.

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