7 Myths About Entrepreneurs

If you have the drive to become an entrepreneur, follow your dreams.

Plenty of people have thought about becoming an entrepreneur, but not many follow through. Many are hesitant because they have bought into common myths about what it means to really start, own and run a business. In essence, they deprive themselves of the joy of entrepreneurship based on fallacies.

If you have apprehensions about taking the journey from employee to entrepreneur, this article is for you.

Myth #1: If You’re Not an Inventor, You Can’t Be an Entrepreneur.

When we think about entrepreneurs, we often think about people like Steve Jobs and Bill Gates. However, not everyone has to create a revolutionary new product in order to be an entrepreneur. Plenty of entrepreneurs take an already-existing product or service and just do it better, or differently. Basically, they see a niche and fill it.

Myth #2: Entrepreneurs Work in Lonely Bubbles.

The truth is that entrepreneurs are not all solitary loners who operate on their own. The majority of entrepreneurs actually value a lot of interaction with people, because they realize that building their networks — both socially and virtually — can be the key to staying afloat in a competitive world.

Myth #3: If You’re Not Naturally Creative, You Can’t Become an Entrepreneur.

While creativity certainly can assist you if you’re going to be an entrepreneur in a creative field, it isn’t necessary to do well as an entrepreneur. Additionally, if you want to become more creative, you can. It’s been proven that creativity can be a learned behavior.

Myth #4: Entrepreneurs Make Tons of Money.

The measure of entrepreneurial success does not lie in the entrepreneur’s innate wealth. There are numerous entrepreneurs who make a good living, but are by no means living extravagant lifestyles. It all comes down to the type of industry the entrepreneur is in, as well as how much time the entrepreneur wants to put into building his or her company.

Myth #5: Entrepreneurs are Born.                     

Though it’s true that some families of entrepreneurs swear that their loved ones were “born that way,” it doesn’t mean it’s accurate. People change quite a bit throughout their lives, and some follow a path that leads them to entrepreneurship.

Myth #6: You Need Lots of Money to Become an Entrepreneur.

Although having capital does help when starting company, it isn’t absolutely needed depending upon the industry in which one is working. Businesses have been started from such inauspicious spaces as coffeehouses, garages and basements. If the entrepreneurial drive exists, the money isn’t necessarily needed right away.

Myth #7: The Best Entrepreneurs are College Dropouts.

We’re not sure why this myth continues to thrive, but it’s certainly not true. Yes, some entrepreneurs decided not to continue pursuing their college educations, but others have PhDs. There’s really no set course in terms of academics that defines who is going to succeed as an entrepreneur. If you’re in school and enjoying it, stay there. You won’t become an entrepreneur faster by dropping out.

One Final Thought

The best rule of thumb to go by is to do a “gut check.” If you have the drive to become an entrepreneur, follow your dreams. There isn’t any reason to fall into a pattern of believing myths that will only hold you back.