Starting Up

Debunking Popular Entrepreneurial Misconceptions

The world of entrepreneurship is surrounded by plenty of myths.

Surely, you have plenty of beliefs about entrepreneurship that you picked up from someone or somewhere or made up in your head. Some of them may be true but there are some that are absolutely wrong. There are a few myths that most believe in.

Let’s debunk those here:

Misconception Number One: I Rule

Almost every entrepreneur thinks that once he starts up, he will have no boss. In other words, he will be the boss. Well, that’s not true. The minute you find an investor, you will relinquish control. Also, if you don’t find an investor and would like to bootstrap, your customers are your boss. Beware, customers are generally much more dominating and demanding than other bosses.

Misconception Number Two: I Will be Very Rich

“If you start a business solely for money, you will fail. There is a lot of work before the money comes in.”

Again, almost every entrepreneur hoped to be very rich from his business. That is not really how it works. Of course, being successful will help you earn lots of money but business brings with it value, which is much more important than the finances. The opportunities you get and the way your network will expand through business is invaluable.

Misconception Number Three: My Dreams will become Reality

Yes, this can come true but this is not instantaneous. It will take time and effort. However big your dreams may be you will be able to succeed, provided you work relentlessly. The point to note here is that in your quest to accomplish big dreams you will hit small milestones, which will bring you a lot of happiness and satisfaction. These include finding your workplace, expanding your office, the first party to celebrate accomplishments and so on.

Don’t forget at any point of time that starting up is no child’s play. It comes with a lot of responsibility and to keep up with the challenges you have to be motivated. Don’t let yourself get carried away by myths and misconceptions. Focus on your goal and aim at excellence. When you do that, there won’t be a reason for you not to succeed and accomplish your goals.

Entrepreneurial Learning

Move away from myths surrounding entrepreneurship and focus on your goals. Have one main focus to succeed regardless of the ups and down and stay in the game long enough. Don’t belittle smaller success stories in your haste to fulfill your big dream. Celebrate small joys and overcome big hurdles smartly. Entrepreneurship is all about hard work and determination.

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