By in Business

Myths About Entrepreneurship

Entrepreneurship attracts a lot of attention because it is a desirable and admired state of being. Many wish to one day walk out on working for someone else and instead devote their efforts to a cause of their own choosing and happily one that also has the potential to earn then a decent income. However, not everyone who dreams the dream turns it into a reality and this makes entrepreneurship a prime candidate for speculation which fuels the myths that have commonly become associated with it.

Take a look at a few of them outlined below.

It Takes a Lot of Money to Start a Business

Starting a business does sometimes need a bit of capital, but the extent of the need for start-up funds depends entirely on the type of business you are thinking of starting. There are actually quite a number of businesses that can be launched without any capital at all.

All Entrepreneurs Love Risk

While entrepreneurs are generally slightly more willing to let go of the traditional route to happiness they are not all risk lovers. In fact, many mistake calculated bravery with accepting undue risk, but the two things are completely different. A smart entrepreneur knows there is no need to fear launching a business that has been properly researched and tested.

Successful Entrepreneurs are Experienced in their Field

Entrepreneurs are also expected to be masters in their chosen fields, but the truth of the matter is that many entrepreneurs launch businesses in industries with which they have no prior experience. These business people however have the wherewithal to do the necessary homework and seek advice from the right people. They are not afraid of learning on the fly and will therefore not turn away a good opportunity just because it does not happen to be their area of expertise.

Entrepreneurs are Wealthy

While entrepreneurship definitely provides a vehicle for wealth, not all entrepreneurs achieve the highest levels of success. When you say that you run your own business it can give the impression that you are very well off but in fact you may be just making ends meet while pursuing your passion.

Entrepreneurship is certainly admirable but it takes a certain amount of gumption and drive to be successful. It is best not to put too much merit on the stories surrounding entrepreneurship though, but to look to the lives of several different types of business owners for inspiration and even advice.

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AliCanary wrote on February 9, 2015, 10:16 AM

It's true, you can be an entrepreneur with little money--just a lot of work! Those of us who do freelance work are entrepreneurs in our own way.