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Is entrepreneurship overrated?

Indeed it is overrated by those who are unwilling to take risks, those who don’t believe in themselves, people who have unorganized lifestyles, or individuals who don’t like working long hours. I say that because accidental success like winning a lottery cannot be relied on in our Facebook and Instagram age. Sometimes even those who are very organized, discipline, and do their homework diligently may fail at it (unless those who have the gut to pick things up from the mud). So yeah, it’s not overrated.

Here are some things you need to know about entrepreneurship and whether they are true or not,

1. Entrepreneurship is better than employment.

Here’s the thing about non-entrepreneurs. They can shut work off the second they leave the office. As an entrepreneur, the success of the business becomes part of your identity, and you bring that with you wherever you go. A growing entrepreneurial firm has a lot of pressure for the owner to deal with and the pressure of their professional lives falls on the entrepreneur. The responsibility is massive, which is something an entrepreneur is thinking about when he or she is maybe quitting his or her job.

If you’re good at being an entrepreneur, it’s because you have a deep-seated psychological need to build a business, which becomes part of who you are. The downside is you’re not always able to leave the office at work or turn it off at home when your title is Chief Executive Officer.

Therefore all these and more must be fully accepted by one who is ready to ventures into entrepreneurship, and the notion that it is better than an employee is neither here nor there but basically varies from person to person.

Myths about entrepreneurship

 

2. Entrepreneurs are born to lead

Then again you have many people assume entrepreneurs are born leaders and must have leadership in their DNA in order to drive business affairs. Nope, that’s not true. Though it is very common for entrepreneurs to seek training on how to become successful leaders, there are many types of entrepreneurs that do not have the intrinsic DNA of a leader.

 

3. Entrepreneurship grants you all the freedom you need.

That’s a hard no. Time is always limited, so no one can say they own their calendar, including CEOs of huge companies like Elon Musk and Mark Zuckerberg. A carefree attitude about time management is over once you’ve entered the entrepreneurial realm. Instead, the demands of life become acute.

An entrepreneurial lifestyle can be freeing; you can dress casually, work from home, and be your own boss. Entrepreneurs also arguably have more flexibility with the ability to create and manage their own schedules, but their lives contain no shortage of hard work and responsibility so you have plenty to do and because of this they always don’t have enough time.

Myths about entrepreneurship

 

4. Entrepreneurship is easy money!

False. You can’t assume just because you pursue entrepreneurship it will be easy or highly lucrative off the bat. Of course, it’s true entrepreneurs can have high earning potential but this is no guarantee, at least not from the beginning. In fact, many entrepreneurs run into debts and losses many times during operation with the hope of things turning around. The only thing they have is HOPE, EXTRA HARDWORK, and PASSION!

 

5. Entrepreneurs are the brains behind the entire operation.

Just because an entrepreneur is often the face of an idea or business, doesn’t mean they are all things in the company. Good entrepreneurs know how to build great teams. Some have very high hiring skills and are able to spot talented and committed individuals from afar, something an ordinary person cannot do on a regular day. In a very thriving entrepreneurial venture, he or she might not even do anything apart from spotting opportunities and putting them on the table.

 

6. Cash is king.

Nope. Cash flow is important, but in the end, it’s the customers who are king. At companies such as ConsumerAffairs in the US, they serve seven million customers a month who visit their website for brand leadership, reviews and information. Some 80 percent of them are researching a life-changing purchase. They go to them during their time of need, which means the pressure is on to provide them with the tools and resources they need to make the best purchasing decision. So therefore for such a company and many others, the greatest accomplishment is helping solve a consumer’s need and putting a smile on their face.

This is what an entrepreneur must be concerned with – solving a problem as the highest priority before the money will follow. Hence, money is the king. The client is!

 

 

 

 

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