Myths about entrepreneurship that you should stop believing right away
What's the story
Most of us have thought of starting a business of our own. However, what didn't let us give wings to our brilliant ideas and dreams are the many misconceptions that revolve around entrepreneurship. And where do they stem from? Well, mostly from one's subjective experiences that are presented as generalized beliefs. Let not the following myths stymie your way toward being an entrepreneur.
Sacrifices
Myth 1: Entrepreneurs don't have a personal life
We have often been told that entrepreneurs make multiple sacrifices to achieve their dreams. However, it is not entirely true. While yes, most of them work round the clock during certain phases of their entrepreneurial graph, they strive to maintain a work-life balance too. In fact, they know when to take breaks to reduce burnout. They believe more in smart work than hard work.
Reporting
Myth 2: Entrepreneurs don't have a boss
This common myth about entrepreneurship is only half true. Technically, an entrepreneur doesn't have a typical boss sitting on their head, however, they do have multiple parties to whom they are answerable. Entrepreneurs report to their investors and they have to send monthly reports of progress. Banks and creditors are also their bosses but the biggest of them all are their customers/clients.
Commencement
Myth 3: Entrepreneurs only need a good idea to begin
Many believe that all it takes to be an entrepreneur is a brilliant idea. Well, this is misleading to a certain extent. Even the most disruptive ideas can only survive with proper planning in place. An entrepreneur needs to figure out resources like finance, manpower, production, logistics, and so much more. They can't afford to be wrong with any of these.
Decision
Myth 4: Quitting is for losers
Steve Jobs once expressed how he felt when he left his own company. "I didn't see it then but getting fired from Apple was the best thing that could have ever happened to me. It freed me to enter one of the most creative periods of my life." Hence, an entrepreneur can quit at any time and it doesn't make them a loser.
Nature
Myth 5: Entrepreneurs are born, not made
Nobody masters a certain skill or talent when they are born. They learn, decide, and make a move during the journey of life. The truth here is that anyone can become an entrepreneur at any point in time in their life. Kunal Bahl used to work at Microsoft before founding Snapdeal, while Bill Gates worked for Bonneville Power Administration before co-founding Microsoft.