4 Myths about Entrepreneurs

Aug 02, 2016
by Dr. Saadia Asif

Entrepreneurship continues to be all the rage in the world around us and entrepreneurs are often considered the masters of the universe You’ll hear a lot of talk about what makes a successful entrepreneur, some correct others complete fiction. In this blog, we look at busting four frequently believed f myths about entrepreneurs.

Entrepreneurs are Reckless Risk-takers

Perhaps this Branson quote - "If somebody offers you an amazing opportunity but you are not sure you can do it, say yes – then learn how to do it later!" - is to blame for this myth. Risk-taking is part of the game but entrepreneurs are not crazy. They are intelligent, highly skilled individuals who take calculated risks. It would be shortsighted to think Elon Musk has gone into developing high-performance electric cars and space travel without being aware of the risks and opportunities involved.

Entrepreneurs are Fortunate

Steve Jobs, Bill Gates and Lei Jun (Xiaomi) may appear to have been born under a lucky star, coming up with the right idea at the right time and then making it a success by some combination of luck and skill. Reality tells us otherwise. Behind every success there are many failures that we never hear about or notice. How many of you can name these seven Steve Jobs products that were not a hit?

Entrepreneurs are Always Original

Persistence is probably a more correct descriptor than originality because many are shameless imitators. The idea is simple. Today you reverse engineer the world’s best technology so tomorrow you can outsmart it. It is an old technique. As these images show ( the Japanese used it extensively until the 1980s and today it is China’s turn.

Entrepreneurs Found and Run Companies

This is not entirely false, but entrepreneurs working as founders and CEOs is overrated. Sergei Brin and Larry Page did not run Google for many years after it was established. In fact, shortly after founding their company they hired Eric Schmidt as the first CEO. In fact, a great entrepreneur is one who recognizes their own skill and brings in people to complement it to build their business further.

To sum up, there are many myths surrounding entrepreneurship. To succeed, you need to look past the myths towards the reality. Our courses can support you in that. Designed by experts with many years of entrepreneurial experience, they can help you avoid common mistakes and share the methods and techniques that will launch you to success faster.

Subscribe To Our Newsletter

Get our latest blogs and other great updates when you subscribe to our Newsletter.