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4 Common Myths About Entrepreneurship

Have you ever dreamed of becoming your own boss?  Have you imagined yourself quitting your day job to start your own company?  If so, you may be seduced or deterred by some of the myths out there surrounding entrepreneurship.  In this blog post, we intend to debunk the most common ones so you have a better understanding of what entrepreneurship is really like:

  1. Entrepreneurs Aren't Made, They're Born.

    One popular philosophy about entrepreneurs is that they have this innate, genetic ability to build their own businesses.  This surmises that you can't learn entrepreneurship “on the job” or through entrepreneurship coursework.  However, most experts agree this isn't the case and believe that anyone who applies himself can become a successful entrepreneur.

  2. The More Products and Services Offered, the Better.

    New entrepreneurs may be too eager to please.  When that occurs, they can be tempted to offer more products and services than they can reasonably support, ultimately spreading themselves too thin.  It's useful for entrepreneurs to remember that sometimes, less is more.

  3. Entrepreneurs Are Their Own Boss.

    Yes and no.  While it's true that you may not have a boss in the stereotypical sense, you will still have people you need to report to, whether they're clients, shareholders, or business partners.

  4. Entrepreneurship Requires a “Type A” Personality.

    When we think of entrepreneurs, we tend to imagine the type of hard-charging executive who takes Skype meetings on his cell phone while he's on the treadmill.  While it's true that some entrepreneurs are Type A, that temperament isn't a requirement of being a successful entrepreneur.  If you exhibit some of the positive traits associated with a Type A personality—like motivation and adherence to deadlines—you can successfully build a business even if you tend to be more easygoing.