5-myths about entrepreneurs

5-myths about entrepreneurs

As the allure of entrepreneurship grows in the zeitgeist of global culture, so too do the myths surrounding it. Entrepreneurs are setting their course for some uncharted territories, and there are always tall tales that can go along with the unknown. ~Winifred Aduaiyi

This new exposure has caused people to develop several misconceptions about being an entrepreneur... there are myths built up around starting a business that simply aren’t true and overtime they’ve been proven to not hold water.

Prior to my limited experience in the entrepreneurial field, I’ll be sharing my opinions on the few misconceptions absorbed by people looking at carving a niche for themselves. Some of which includes:

* Entrepreneurs are their own boss

Many people go into business expecting that ownership will confer magical powers that will allow them be above the rest of the world. The truth of the matter is you will need business more than the average customer needs you. Yes, technically, an entrepreneur is his or her own boss, but that doesn’t mean an entrepreneur doesn’t have to answer to anyone. The reality is, owning your own business is a humbling experience where you find yourself working for and answering to EVERYONE.

More so, If you take on Investors money you have those investors to report to. If you have co-founders, you all must remain on the same page. The freedom of being your own boss is often misconstrued.

* Entrepreneurs get rich quick

Don’t become an entrepreneur if your only goal is to become rich. The biggest determinate between getting rich quick and eking out a subsistence living is luck, so if you’re looking to get rich quick, my advice is to buy lottery tickets.

Building a clientele takes time and patience, and is much harder than many people think. You can do everything right by a customer 99 times, but if you mess it up once they would drop you like a hot potato. Sure, plenty of entrepreneurs find success and achieve financial freedom, but there are many more that don’t... You’d be getting it wrong from the get-go if your goal is wealth; because you will expend all energy aiming and chasing after the money, rather than focusing and aiming to provide the solution that attracts the money.

* Entrepreneurs pick their own hours

Send this 'myth' packing before you move in! There is nothing 'picky' about the hours required to get your business off the ground. Entrepreneurs need to be willing to give up a major chunk of their personal and family time. Late nights at the office and work-filled weekends are the norm in the beginning. In startup mode, that’s simply what’s required.

Customers need you to keep regular hours; no one wants to get a message that their plumber has decided to take a two-week break when they have water seeping up through the carpet. This is not to say that you can never take a break or close early, but whenever you do you had better provide your customers with a viable option or they may stop being your customers and you will end up having more free time than you can afford.

While you will need to work hard, and there will definitely be periods of seriously intense work, you also need to balance that with good sleep, good food, plenty of movement and some fun sometimes. Entrepreneurship is hard work, but it’s supposed to be enjoyable too; you excel at what you enjoy, not what you struggle to do.

* Entrepreneurs need to be well connected in order to succeed

While knowing the right people is always a plus, it isn’t mandatory to be successful. What you do need is the drive and tenacity to make those connections that your business requires. If you are willing to pick up the phone, send emails, network and kick down doors you can get in front of the right people. Nothing will ever be handed to you: be prepared and willing to work hard and work smart.

* You have to ‘know' what you’re doing

You actually don’t need to know exactly what you’re doing to get started. Time has proven that continuously, from Magellan, Einstein, Steve Jobs and beyond, there was never an exact plan for the course ahead, just a general idea that something more was out there. Let your curiosity overpower the myth that you have to know exactly what you’re doing to get started.

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Entrepreneurship is way beyond some laid down rules, it is being spontaneous yet precise at taking leads. You might have a fantastic plan, however, if you aren’t dogged in its execution you would be as good as having no plan at all.

Photo Credit: Ross Simmonds

Being an entrepreneur isn’t a one day’s task, it’s the aggregation of hours turned days., days maturing into weeks., weeks evolving into months, and months spanning into years of hardwork and consistency. It is you taking up a new life and at the time, expending all the energy in you to make it work.

Find passion; Fuel a living.

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I am Obajowo Jimmy Michael, a Writer| Social media analyst| Musician| Geneticist| and a Christian.

Follow me via @mrjimmymichaels on Twitter and Instagram and visit www.jimmymichaelwrites.blogspot.com to drop your comments and opinions.

Cheers!