When talking to everyone about entrepreneurship and how to become an entrepreneur, there are some popular misconceptions that always arise.
They are almost always based on stereotypes that have seeped into the culture over time. We see them in television, movies, and even from entrepreneurs themselves. But like all stereotypes, they are overgeneralizations that don’t allow us to see the truth, in-depth picture of the entrepreneur. So, here are the most common myths I hear about entrepreneurs.
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Are there “born” entrepreneurs?
It’s true that if you come from a long line of entrepreneurs (as I did), you are more likely to become one, but it’s not genetically inherited, It’s a role model in your life. After all, colleges and universities have been teaching all kinds of people business skills and entrepreneurship for decades.
Now, that’s not to say that there are no “born into” advantages that can help with entrepreneurship. Money is a great example of this. If you were lucky enough to be born into a family with money, it will make entrepreneurship a much easier proposition.After all, funding is the main part of any start-up.
That being said, most entrepreneurs were not born into money and still became successful. More on how to do that later.
Do they have a social life?
This one is pretty common and sometimes perpetuated by the entrepreneurs themselves. There can be kind of a machismo attached to the image of a workaholic. Someone who is single-minded and all focused to the exclusion of other things.
While entrepreneurship does take a lot of time, effort and dedication, entrepreneurs by necessity, need to be social creatures. No one rises to the top without a wide network of friends and acquaintances.
Are they extreme risk-takers?
Successful entrepreneurs are experts at taking calculated risks and carefully exploring all the options as well as the potential up or downside before making a decision. There’s no getting around taking risks as an entrepreneur.
The person who is willing to risk it all on a roll of the dice isn’t going to be in business very long.
Are they super-smart?
In fact, only about 26% of entrepreneurs have a college degree. While getting or having an education can’t (or shouldn’t) hurt, it is by no means a prerequisite for becoming a successful entrepreneur.
Do they raise money through bank loans and venture capital firms?
My hat’s off to you if you can pull that one-off. Especially a bank loan, you’ll find that banks are more than willing to lend you money once you’ve become successful. But before then, you’re lucky to get a cup of coffee out of them.
No, new entrepreneurs are usually raising funds either personally or through friends and family.
Can anyone be an entrepreneur?
All you need is an idea and working hard. After all, if you build a better mousetrap, the world will beat a path to your door.
Sorry, but that’s just not true.
There are many involved in launching a successful startup. Not everyone has the time, ability or inclination to do it. Basically, successful entrepreneurs, do share some similar traits and habits. We will write about it in the next article
Thank for reading !!
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