Challenging the status quo and questioning the conventional wisdom is all part and parcel of the entrepreneurial world when it comes to searching for new and better ways of doing things. However it seems there are a few entrepreneurial myths that need to be exposed!
Generally speaking, if we were to just keep on following the rest of our peers, we may as well keep our day jobs and be happy with that.
Its seems as though these days, with all the jobs uncertainty in the world, that the best option is to quit your day job and become the next entrepreneur. We are told day in, day out that there is no better day than today to start our entrepreneurial adventure, otherwise risk living life full of poverty and regret.
I find this to be completely untrue. How is it not impossible for one’s self to have a fulfilling career, be totally happy with their life’s achievements and better still become filthy rich working for someone else? The idea that these are not possible are pure entrepreneurial myths.
I absolutely love creating endless possibilities for myself, and find even the little achievements so rewarding. Starting your own business can be the single best decision you may ever make, however this is not for the conservative type. There are lots to take into consideration and a few myths to uncover. Lets have a look.
Myth #1: You’ll be the happiest whilst owning a business.
I remember recently pulling my hair out over the most simplest of tasks whilst creating header images for a clients website. Let me tell you that yes there are certainly many happy occasions, but they do coincide with arguably many more frustrating ones. Most people are certainly happier without the stress, headaches, burdens and personal demand of running a business.
Myth #2: Its the only way to get rich.
Ive read many articles that tell me the only way to become a billionaire is to be an entrepreneur. Whilst compiling my list of entrepreneurial myths, I felt this one would resonate with a lot of people. Most people will endeavour to start a business and in-fact end up in more debt, and running a business into the ground before it even takes off. 25% of small businesses fail within 12 months. Incompetence being the major failure pitfall at 46%. You don’t have to be a well known entrepreneur to become rich. Many have worked for the right company and have been the recipient of highly regarded awards and accolades thats assisted in building their own fortunes.
Myth #3: Follow your passions, not the money.
Financial advisors often say that money isn’t everything. Go out and follow your passion. I believe this to be true, however why not do this whilst working for an employer. Following your passion with in the workplace can open up opportunities that may have been squandered had you taken the leap into the entrepreneurial world.
Myth #4: You don’t have to answer to a boss.
Well this is true in part. Only within your business will you be the boss. Outside of that though, there are certainly plenty of people that influence and dictate what decisions you make within your business. Customers, partners, regulators, local authorities will all become bossy at some stage.
Myth #5: More freedom and control of work-life balance.
You will certainly feel more freedom, however chances are you will be operating on your own to begin with and this will involve working 24×7 for a long period of time to establish yourself and create an authority within your market. All of this can be tremendously rewarding if it pays off.
Myth #6: You will be more fulfilled.
In my opinion i think everyone can have that sense of fulfilment so long as they set goal that they are proud of and accomplish them. Fulfilment should have nothing to do with business ownership. Learning the ropes in an already established and successful business working as a leader or manager can be just as rewarding as owning your own business.
Final thoughts. What ever it is you do with your career is totally up to you. Your success will be determined through your own ability to educate and commit yourself to whatever it is you do, whether that is challenging the status quo or climbing the corporate ladder. Creating a business and building it to become a successful and fulfilling venture can be the most rewarding thing to do. Do what’s right for you, when that time is right. I hope these exposed entrepreneurial myths have placed some minds at ease. Having self belief is where it all begins.