Three Myths About EntrepreneurshipBy Julia Ramirez, UniversityHerald Reporter
It is trendy to be an entrepreneur. Many people get excited when they discuss about transitions in careers and when they contemplate on entrepreneurship. However, people should be familiar on the four myths about entrepreneurship before they engage in start-up businesses.
Here are points on what entrepreneurship is not about:
Entrepreneurship is not all about glamour.
It is considered to be trending to build a startup these days. Most budding entrepreneurs envision having themselves featured on magazines and doing advertisements. Although businesses cannot start without the entrepreneur himself, the entrepreneur often is the last thing in businesses.
Entrepreneurs fill in for employees who quit or even taking trash out in the office. Entrepreneurs give a significant portion of their personal life just to have the business succeed, as cited by Forbes.
Entrepreneurship brings in the big bucks.
Various news publications often feature stories of startups that gained millions of profits. However, startsups who failed are not included. For every one startup that files for a $25 billion IPO, there are other 100 plus startups who closed or pivoted. If you want to ensure a financial return, it would be best to be in a professional path.
Entrepreneurship is not about just flipping.
In addition to entrepreneurs consider funding and IPO (initial public offering) initially, most budding entrepreneurs think of founding a company and flipping it. Businesses often go through numerous ups and downs before reaching success. Persistence is much more required compared to the aim of selling the business to another. Most startups get distracted and veer away from the main goal of serving customers because of this flipping of businesses.
Career professionals who consider shifting to be full-time entrepreneurs must consider these three myths about entrepreneurship before pursuing this field. After all, not all are meant to be entrepreneurs.