The success stories of entrepreneurs either make people look up to them as God or make them feel uncomfortable. People still find working for themselves unconventional but slowly it’s changing with the emerging era of start ups and the success stories but the question always remains in the back of peoples mind ‘How did it happen?’
Here are some of the few myths that people assume about an Entrepreneur’s success story.
1. Entrepreneurs are high risk takers:
Entrepreneurs are always perceived as risk takers. Even the popular dictionary meaning states entrepreneurs as business people who assume business risks. But like any other businessman, they know that taking unnecessary risks is like gambling. So, they take calculated risks after assessing all their risks & have an innate ability to make sense out of complexity.
2. Entrepreneurs are born:
Most people believe that entrepreneurs are born and cannot be made. However experts believe that entrepreneurs have learned how to come to that position through experience, presence of mind and the extra effort that they have put behind their passion. Every successful entrepreneur has conviction, like no other.
3. Entrepreneurs are motivated to get rich:
Entrepreneurs who have become successful in their fields will argue that getting to that position wasn’t easy and it often takes one to three years to become profitable. Until then, the business is considered to running well if you break even. In the starting stage entrepreneurs do not expect anything in return and work just for their idea to turn into reality. Their focus is on creating a company with their idea, which can be expandable in future.
4. Entrepreneurs don’t give any attention to their personal life:
Entrepreneurs work long hours during the week, which is true. They do not mind putting in 60-70 hours but they like wrapping up their work so they have free weekends. The weekends are important for them to spend some private time with their family but at the same time, nothing stops them from postponing their plans in case of urgent work turning up in the last minute.
5. Entrepreneurs are ruthless:
People believe that to be a successful Entrepreneur you have to be ruthless and step on anyone who comes in your way. In the real world that doesn’t work as entrepreneurs will become alienated and no supplier, customer or employee would put in their trust. A good entrepreneur always is a step ahead and understands the employees’ problems, the demand in the market and plays his game accordingly.
We hope this has helped eliminate any assumptions about successful entrepreneurs. We respect them for their passion and hard work. Do share some of the myths that you have heard about entrepreneurs in the comments below.