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Entrepreneurs were considered the lost soul many years ago. But now entrepreneurs are modern-era rock stars. The title of entrepreneur is a lot cooler now. They know how to ignore the noise around them. It’s no easy lifestyle and not for the weak of heart. Not every start-up receives millions of dollars in funding. Most of them are still on a paper-thin budget.
Do you know what it takes to be an entrepreneur? Examine what wrong myths are out there about entrepreneurs.
Entrepreneurs have to do everything themselves:
The idea of doing everything themselves can lead to complete burnout and failure. The team surrounding you is important for business. The right team can make you successful and the wrong team can make your business a loss.
Entrepreneurs are well connected:
Knowing the right people is important. All it requires is the drive and tenacity to make those connections for business. Entrepreneurs take the initiative to phone, send emails, and network with the right people.
Entrepreneurs have long hours:
Though, entrepreneurs devote most of their family time and personal time to the business – they maintain relationships with family and friends. They have long working hours in the beginning but balance their available hours.
Entrepreneurs have to take huge risks:
Entrepreneurs take huge risks; this is what the media says. As start-ups are risky, 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 depends directly on the family and the well-being of the families. This pressure on entrepreneurs brings the thought of stress among the people.
Entrepreneurs have large funds:
You are very wrong if you think so. The majority of ideas would lead to failure if the entrepreneurs waited for large funds. That doesn’t mean entrepreneurs have large funds 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. 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 of the business that eventually gives you personal time back.
Entrepreneurs are their own boss:
Technically, an entrepreneur is his or her own boss. With that comes responsibility.
Read more: Common Mistakes for First Time Entrepreneurs: What to avoid?
Entrepreneurs are all independent:
Don’t become an entrepreneur if your only goal is to become rich. Plenty of entrepreneurs define success and achieve financial freedom, but there are many that don’t. Financial success isn’t everything; get satisfaction from bringing products and services and impacting people in a positive manner with financial return.
Entrepreneurs just need one good idea to be successful:
Hitting it big with one 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.
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 on the role of entrepreneur, know the pros and cons.
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About the Author
Veronika Tondon is a business enthusiast. She writes about emerging technologies and opportunities for business. She is working as a Marketing Manager with Invoicera, a leading cloud invoicing solution.