There are countless people from all around the world that want to become entrepreneurs. The simple idea of being one’s own boss is attractive. However, building one’s business is something that rarely happens. Unfortunately, according to Marc Leder, this is due to the fact that many entrepreneurship myths exist. If you want to be successful, or you just want to become an entrepreneur, here are some you should never believe.
Myth – Entrepreneurship Is Simple
So many believe that it is easy to become an entrepreneur because they see many that are highly successful and rich. What is not seen is that there are countless hardships that are experienced. As people see the successful restaurant that has numerous customers, the belief is that the restaurant has a really good chef, great interior design, very tasty food and are perfectly located. This is definitely not the case.
With a restaurant, there are many other things that need to happen to become a true success. For instance, the best restaurant owner always needs to think about marketing, human resources, R&D, training, systematization and a whole lot more. Entrepreneurship always seems to be really simple but the reality is that so much needs to be done that it is easy to be side-tracked.
Myth – Entrepreneurship Is Difficult
The truth is that entrepreneurship is neither simple nor difficult. Both of these statements are just myths that should not be believed. The best way to look at things is to see entrepreneurship as if you were erecting a large building. This takes effort and time. You need time to learn how the business should be built and effort is needed to properly apply what was learned.
It is true that you can find a blueprint for success but you cannot blindly follow it. Mentors are really important as they can guide you about what should be done. This is why entrepreneurship is not as difficult as some think. Unfortunately, it is also not that easy.
Remember that you need to work hard in order to be a success as an entrepreneur.
Myth – Failure Rate Is Very High
If we take a look at statistics, it is really easy to end up thinking that this is correct. We now know that around 95% of all businesses are failing during their first five years of existence and 95% more of those that survived end up failing in the following five years. Failure rate is definitely high but the success that you have as an entrepreneur is not actually determined by these statistics. These are simply numbers. Success is always determined by performance, not by probabilities or stats.
Remember the fact that in everything you do in life, there are always more people that fail than people that succeed. It is completely normal to be faced with a high failure percentage and a really low success percentage.
When you start doing work as an entrepreneur you need to have the proper mindset, one that guides you towards that 1 percent of the successful entrepreneurs. This means you will need to learn a lot from those that were successful in the past and work hard, as already mentioned.