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10 Myths about Entrepreneurship in 2021

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Do you want to be an entrepreneur?

There are some certain myths and thoughts about entrepreneurship that may forcing you to step back and discourage you from starting your own business.

Then this blog post is for you. I will clear misconceptions you may have about entrepreneurship and I will go through the top 10 myths about entrepreneurship.

Top 10 Myths of Entrepreneurship in 2021

1. You have freedom

If you are talking about the freedom to work according to your hours, then yes. You have that.

But in the starting time when you are just starting your business, you have to work in the days as well as night. You have to work hard to reach at peak and make achieve your goals.

After your business and you are settled with it. And you are reached at a profitable point then you can work normally.

Nothing comes easy and free. You have to pay for it and be it hard work or your sleep.

2. You should be born as an entrepreneur

Some people believe that entrepreneur is something that is genetic. This is the common myth of entrepreneurship and people say it to discourage a new comer entrepreneur.

 It is like that if you are a son or daughter of king father only then you can be a king or queen. But one should know that if you are willing to do something, No one can stop you.

However, experts believe anything can be learned through practice. Thus, anyone can be a successful entrepreneur.

3. You need to plan your journey of success.

People think that every great businessman have already made plans to achieve success in their business. But this is not true.

Entrepreneur are risk takers. Yes, they start with a plan. But it is impossible to go step by step in any process. It can change a lot when come into actions.

You have to know about how to find your ideas, where to invest, what to do and knowing about the opportunities. There are many tools available at internet to make your journey successful. Semrush and EngageBay both are my favourite. I use Semrush for SEO and Engagebay to automate marketing.

4. Living care free

If you are thinking that once you have started your business and you are your own boss, then you will get free. You can do anything that you want to. But no, this is absolutely wrong. 

You have started it, then it means you have more responsibilities which need more care and more hard work. You may have to work for very long time to get the results.

5. You need more money to start a business

Another myth about entrepreneurship is that if you want to start your business then you need a good amount of money. But this is not true.

If you are dedicated enough to start then you can start with the small amount of money also. If people will like your products, business then you will yourself find customers or users. And hence, you will start growing into your business.

But you cannot deny the fact that in the early stages, you will need fund for your business.

Those who came from a financially settled family can start with their own money. But entrepreneurs who are not from such background then you can develop some partnership strategy to find investors for your business.

I should recommend you to read this article by Thesimpledollar.com.

6. You need to do everything by yourself.

Yes, you cannot ignore that you will be the core for your business. Everything will be solely depending on you and your decisions.

But you can hire people to do other smaller tasks. So that you will be able to find your time to have focus on the bigger goals. And it helps you to save a lot of energy and time.

7. Hard work pays off success

It is one of the discouraging or damaging myth about entrepreneurship. People think hard work is equal to the success only.

No doubt that hard work will always pay off. But not only as success only but can be in the way of failure too. And failure doesn’t mean giving up, losing your power to do the things but it teaches you a lesson and gives you a scope for improvement.

So, if you are facing failure then please learn from it and keep remembering that why you have started it. All you have to keep in mind is to keep trying.

8. You need higher degrees to be an entrepreneur

Knowledge and degree are two different things. It can be possible to have knowledge but no degree. A formal education about the markets, technical knowledge and business is required. But it is not compulsion to have a degree to be an entrepreneur.

Some people choose to start up their business instead of going to college. Also, some of us want to be their own boss. So, they opt to start up a business and not going for higher studies. Experience is a better teacher for them.

9. You cannot quit

Entrepreneur are also from the human like you and me. If you have taken a decision to start any business. But you are just losing a part of yourself and facing failure constantly.

And now you cannot take this to forward then you can quit. Because knowing where to stop and when to move out to the next is equally important in anyone’s life.

10. Entrepreneur don’t have personal life

People think entrepreneur works for 365 days in a year. They don’t have time for their family, loved ones, and friends. They don’t hang out and so on. But don’t forget that you are a human not a machine.

A good person manages his or her personal and professional life separately. You can take your personal time but keeping your goals first. As you are your own boss, you can schedule your hours and set it according to your priorities.

Conclusion

Entrepreneurship is risk associated.

College education is not a barrier to be an entrepreneur.

Even if you are an entrepreneur, you can have a social and personal lifeand it’s all about time management skills and having a right balance between your professional and personal space.

Failure is tough but you have to accept and keep going.

I hope all 10 of these myths about Entrepreneurship have been cleared to you and will help you to decide whether to go with this or not.

All the best and Thank you. 

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