Entrepreneurship’s 5 Biggest Myths: Debunked
This blog was originally published on Tonja Demoff's website.
When it comes to entrepreneurship, there are a lot of myths and misconceptions that circulate regarding what it takes to start your own business and what all goes into doing so. People sometimes look at entrepreneurship as a fallback plan, something that they can do if nothing else works for them, but this, just like many of these myths, couldn’t be further from the truth.
If you’re considering taking the plunge into entrepreneurship, and devoting your life to your vision, you need to have the full, honest truth behind what it means to be an entrepreneur; let’s debunk these common myths on pioneering a business.
“Since I haven’t found a job that I like, I’ll create my own!”
Finding a job you love can be difficult, especially in today’s economy when good jobs can be hard to come by. However, the fact that you haven’t found the right one doesn’t mean that you’re cut out to just create your own business on a whim. People who are desperately looking for a job are not people who make good entrepreneurs and have likely not given the forethought necessary or planned their finances accordingly in order to do so. It’s tough to have a job you hate, but it’s better than falling into financial ruin because you tried to start a business you were not prepared for.
“CEOs of big companies make lots of money — I want to make lots of money, too!”
When you look at people like Warren Buffett or Bill Gates, men who have built their own corporations or sat at the head of these incredible businesses, it’s easy to idealize their success and tell yourself that you can easily do the same. When businesses start up, it often takes them several years before they even begin to turn a profit, meaning you won’t’ be cutting yourself much of a paycheck during that time. If you’re considering entrepreneurship because you’re envisioning some get-rich-quick scheme, you need to take a step back and reconsider your path.
“I’m tired of always working so hard with no recognition.”
If you’re getting into business for the fame and fortune, you don’t really understand what it takes to actually be an entrepreneur. Starting a business and then growing it requires way more effort and energy than what you’re already experiencing in any role as an employee. If you’re feeling stressed out with your current workload, that feeling is only going to increase exponentially as you take on your new role.
Entrepreneurship is tough, and anybody telling you otherwise is not being honest with you. It is not a fallback or a last resort — it is a lifestyle and a passion and a drive to create a business and grow it from the ground up. If you don’t feel that desire to build something out of nothing, entrepreneurship just might not be for you.
