Entrepreneur, usually perceived as someone driving a BMW, dining in those fancy restaurants, skiing in Switzerland while everyone is working, have the strong heart to take risk, someone talented, someone above average Joe. But the truth is, there are a lot of misconceptions when we compare the entrepreneur we think he/she is and the reality ones.
Myth 1
Free to do what you want.
This is one of my motivation to be an entrepreneur. But face the fact that an entrepreneur cannot be that “free”. You basically do everything yourself. You can’t simply spend the money in your company account, you have to report to your VC (Venture Capitalists). Stop fantasizing taking 2 weeks off to climb mount Everest whenever you like. You can only achieve true freedom when everything is in place and considering outsourcing by then to achieve full automation and passive cashflow.
Myth 2
I am the boss.
I bet most entrepreneurs got tired working for someone else and taking commands from others. Instead they want to be in control of their own life. But again, you have so many things to care about. You have to sometimes listen to your own employees as without their help you are nothing. Stop thinking about simply firing those who don’t obey you as it it naive to think so. Things get worst when you have shareholders. So stop thinking of being “bossy”.
Myth 3
I have no capital so I can’t be one.
As discussed before in my previous post. We live in an internet age where most new mobile devices are equipped with wifi. People shop via the internet. You can easily find a niche market and set up an online store and have zero inventory system . The capital needed is minimal. There is no need to build an office tower that can beat the Petronas twin tower.
Myth 4
I have no talents and ideas.
Observe successful entrepreneurs, don’t you find some off them are people who is unemployed for a period of time or school drop out? True that you will have a smoother ride if you have an extra-ordinary talent. But having talent is not all. Basic entrepreneurship skills are essential. It doesn’t takes Bill Gates’s mind to be a successful ones. You can always hire talented people down the road.
Myth 5
I am hardworking, if I keep pushing on, eventually I will success.
Sorry to blow the bubbles. Hardworking is needed but not the ultimate trait of an entrepreneur. A hardworking and dedicated person will be a great employee but not necessary a great entrepreneur. This is just not a simple cause-effect matter.
Myth 6
It is prestigeous to be an entrepreneur
Yes and no. Usually true for only the very successful ones which are very few. Many don’t make it. One needs to thrive under difficult circumstances to climb the way up. Most of them usually suffer in silence. If you have watched the documentary Startup(2001) which shows the rise and fall of govwork.com, you can see how ugly things go behind the scene. People weep when no one is around, but stand like a firm figure when in public.
Myth 7
I have lots of friends and relatives interested in my ideas. They will support me.
Beware of all these promises. Not everyone will keep them when you start diving in the unknown world. Those who helps are the true ones. Forget about the rest of them.
Reference
Myths, Fantasies and Realities by Peter Tan
