Like many, when you hear the word entrepreneurship, you think of the romanticized idea of working for yourself when you want and not having to answer to a “boss,” however, entrepreneurship is so much more than that.
We as humans value the creation of ideas and being able to have unlimited power and using that and our business potential to our advantage in order to obtain a large lump sum of wealth. Oh and it makes it absolutely no better when we are surrounded by celebrities that have heart wrenching success stories as to how they became the ultimate entrepreneur.
Don’t get us wrong, entrepreneurship is a valuable and rewarding journey within its own, however economic independence does not happen overnight. Many people seeking entrepreneurship may be in over their heads when they realize just have tough this entrepreneurial journey can be, so we thought we’d address a few of those misconceptions. Here are five misconceptions of entrepreneurship many people face.
5 Misconceptions of Entrepreneurship
Entrepreneurs are simply born that way
To be an entrepreneur is to be born into it—wrong. Many people believe entrepreneurs are simply born that way. However, that is far from the truth. Entrepreneurs can literally be anyone. If you are capable of learning the required skills needed to be an entrepreneur, then you are capable of being an entrepreneur. There’s no set in stone rulebook that states only a certain kind of person can create a brand, business, product or service, nor is there a certain kind of look you must possess to be an entrepreneur—becoming an entrepreneur is a learned skill regardless of who you are.
All it takes is an idea
Sure, a good idea can give you some leeway into entrepreneurship, however, it takes more than just an idea. No matter how well thought out your idea is, it still requires execution. If you aren’t capable of successfully executing your idea, then you may as well kiss entrepreneurship goodbye. Just as ideas are seen as important to a company, so is the process of executing them.
You’ll have ultimate freedom
The idea of being able to do what you want, when you want and how you want tends to appeal to many, but entrepreneurship requires lots of time and sacrifice. Sure, you may no longer have to work a 40-hour work week, but those 40 hours may now become 60 and 70 hour work weeks due to you perfecting your brand. Just because the clock strikes 5 p.m. doesn’t necessarily mean your work is done as an entrepreneur.
It’s fast and easy money
There is literally no limit as to how much money you will or won’t earn as an entrepreneur, however if you’re looking for a quick get-rich scheme—entrepreneurship may not be for you. Being an entrepreneur requires a large investment of time and your own money way before you’re able to see any profit gain. Don’t make the mistake of thinking that entrepreneurship will grant you a substantial amount of money in a short period of time. Every company is different, and some will require longer time frames before seeing any profit return.
There’s a specific secret to success
Success looks different for everyone. Just because something happens for someone else, doesn’t mean it will happen for you. Don’t believe the idea that there’s a specific key or secret to obtain success as an entrepreneur—you’ll be searching for that secret forever.
No one ever likes talking about the things they failed at or how long it took them to get to their current success because the reality is—there isn’t a specific secret to obtaining it. If there was a certain key to success, we’d all be self-made, successful entrepreneurs!