An entrepreneur was considered as a lost soul many years ago. But now entrepreneurs are modern era rock stars. The title of the entrepreneur is a lot cooler now. They know how to ignore the noise around them. It’s no easy lifestyle and it’s not for the weak at heart. Not every startup receives millions of dollars in funding. Most of them are live on a shoestring budget.
By Veronika Tondon, Invoicera
Do you know what it takes to be an entrepreneur? We had a look at the myths about entrepreneurs.
Entrepreneurs have to do everything themselves:
The idea of doing everything yourself can lead to complete burnout and failures. The team you surround is important for business. The right team creates success and the wrong team can kill your business. One wrong hire and you are done.
Entrepreneurs are all independent:
Don’t become an entrepreneur if your only goal is to become rich. Many entrepreneurs define success through money and some of them achieve financial freedom, but there are many that don’t. Financial success isn’t everything; get satisfaction from bringing products and services to the market, and impacting people in a positive manner with the financial return.
Entrepreneurs just need one good idea to be successful:
Hit it big with one massive idea is extremely rare. Has it happened in the past? Sure, but going into it with that kind of expectation is setting yourself up for failure.
Entrepreneurs are well connected:
Knowing the right people is more important. All it requires is the drive and tenacity to make those connections for business. Entrepreneurs take the initiatives to call, send emails and network with right people.
Entrepreneurs work long hours:
Though entrepreneurs deliver most of their family time and personal time to the business they often maintain the relationship with family and friends. They work during weekends, they balance their available hours.
Entrepreneurs have large funds:
You are very wrong if you think so. The majority of ideas lead to failure if the entrepreneurs wait for large funds. That doesn’t mean entrepreneurs have the large fund or different sources of funding.
Entrepreneurs have personal time.
In order to unlock more personal time in the future, entrepreneurs sacrifice the majority of personal time in the beginning of their career. Entrepreneurs give up casual evening get-togethers with friends and weekends without any responsibilities. They unlock their personal time without any sacrifice. They know the hard work that eventually gives you a personal time back.
Entrepreneurs have to take huge risks:
Entrepreneurs take huge risks; this is what media speaks. As startups are risky, the successful entrepreneurs think about different moving parts for their business needs. So to win big, they have to take risks.
Entrepreneurs never make things underlined:
There is a lot of stress and responsibilities that an entrepreneur carries on his shoulders all the time. Every decision made by the entrepreneur has a direct impact on the family, the well-being of the families. This pressure on entrepreneurs brings the thought of stress among the people.
Entrepreneurs are their own boss:
Technically, an entrepreneur is his or her own boss. The freedom of being your own boss is surely known to entrepreneurs.
Being an entrepreneur is not as easy and glorious as it sounds; the idea itself comes up with a lot of downsides. Before you take the road of entrepreneurship, get to know the pros and cons.