Myths surrounding Entrepreneurs
Daramola Ayokunle
I help brands attract ideal clients and drive profitable growth through social media || Social media manager || Sales & Marketing Expert
Myths surrounding Entrepreneurs
Debunking the various myths and misconceptions that exist about entrepreneurship is an excellent place to start since it enables startup executives to determine what is actually required for their young business to succeed. The list that follows identifies some of the misconceptions that people have about entrepreneurs.
Myth 1: Entrepreneurs start Businesses solely for Money.
Entrepreneurs start businesses for many reasons, but the number one reason is their need for independence. They don’t want to work for someone else. Entrepreneurs' goal and reason for starting a business had little to do with money; it is based on the desire to help others.
Myths 2: It Takes a lot of money to start a Business.
Another false assumption about entrepreneurship is that it takes a lot of money to start a business. Nothing can be further from the truth. Many successful entrepreneurs took their businesses from scratch (starting with ideas and zero money) to multimillion businesses.
Myths 3: It Takes a Great Idea.
Venture capitalists say that they will take a great team over a great idea any day because it takes a superior team to execute a successful business concept. Most of the great businesses that have lasted years didn’t start with a great idea, they started with a great team who simply wanted to create an enduring and excellent company.
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Myths 4: Entrepreneurship is a Zero-sum game.
Many people believe that if someone is winning, someone has to be losing. In other words, success in a zero-sum game. Fortunately, entrepreneurs don’t think like that. They tend to look for ways for everyone to come out with more than they started with.
Myth 5: The bigger the Risk, the bigger the Reward.
Students of entrepreneurship often hear that risk is correlated with reward, the greater the risk taken, the greater the reward expected. But risk is a relative term, you need to take a calculated risk.
A reward is greater not because the risk is greater.
Myth 6: Entrepreneurship is for the Young & Reckless
Many people believe that if they haven’t started their first business by the time, they are 30, they think that the energy, drive, resources, and risk involved are suitable only for the young.
Award Winning Team Facilitator /LinkedIn Team Facilitation Voice/ Event Coordinator Women of Might Organization?????? Empowering teams and individuals online and offline to tell their stories with confidence and impact.
1 年Myths are products of ignorance. When knowledge is sought, they will be replaced with facts. Keep being amazing Daramola Ayokunle
I help people build the right relationships and experience marital bliss || 2X Salesforce Certified || 12 Superbadges || Relationship Pruning Expert || Content Writer || Educator || Entrepreneur
1 年Thank you for this enlightenment.
Brand strategist/Social media manager. I work with brands (personal and corporate giants) to develop brand strategies and use creative content that resonates, connect, convert and frees up your time.
1 年Thanks for the Enlightenment Daramola Ayokunle
Business Writer | Executive Assistant | Helping Executives Communicate Clearly and Grow Their Online Presence Through Engaging Written Content.
1 年Happy new week, this is enlightening. Daramola Ayokunle
Content Writer||Brand Influencer||Marketing Specialist - I help brands communicate their solutions to their target audience effectively; creating awareness, boosting likeness and solidifying trust.
1 年This is a great read. Thanks for sharing Daramola Ayokunle Happy new week.