▪ It is not easy
Many people including young and adults always seems to have a very terrible misconception of what it means to be an entrepreneur. While I cannot deny admiring the positive energy and drive that many of these individuals have, I also think that sometimes they can be naive to a fault. The truth is that entrepreneurship is not easy (but don’t get discourage neither it is impossible).
The most common misconception that I have been able to observe is the idea that by becoming entrepreneurs people can get rich quick and instantly solve their financial problems. This is indeed a very irrational and desperate way of thinking. If entrepreneurship was that easy wouldn’t everyone be an entrepreneur already? People with this type of mindset are usually the prey of malicious organizations or individuals who promise them great riches with minimum time and effort in exchange for money.
Entrepreneurship is a lot about time & commitment. The leading entrepreneur can hardly accomplish anything without spending a great deal of time planning, delegating, executing, etc. Time & commitment are absolutely indispensable as they ultimately shape the faith of the company and will make the difference between success and failure. If you think about it, great companies have been there for long periods of time. Great empires such as Apple, Microsoft, Google, etc. did’t become successful overnight. Remember the old adage “What comes easy won’t last, and what lasts won’t come easy”.
The leading entrepreneur must also be willing to learn and adapt to the changes inside and outside their environment. Learning is literally the bread and butter of every entrepreneur. Technologies, markets, customers and even products change very fast, in order to stay on top of the game entrepreneurs must be willing to learn and adapt to these changes. If you are not willing to learn new things you are probably not ready yet to become an entrepreneur yet.
▪ Everyone has the potential to become an entrepreneur
There’s been a never-ending debate on whether entrepreneurs are born or made. While I cannot claim that I have the answer, I’m an idealist who likes to think that everyone has the capability to become an entrepreneur through education, hard work and experience. On my scarce years of life I have been able to listen and read the wisdom of great entrepreneurs and the one thing that has caught my attention is that success only comes through hard work and dedication. If success is matter of hard work and dedication then I dare to say that anyone willing to do so will succeed as an entrepreneur.
▪ It isn’t just about the money
Money is absolutely important for any kind of business venture, money is indeed the backbone of any company, but money isn’t all that there is to it. Being an entrepreneurs means helping people, it means offering real solutions to real problems, it means delivering real value and not just trying to get into people’s wallets and credit cards. (This topic is actually much larger than the scope of this article, and it cannot be fully discussed with bullet points. I would encourage the reader to make their own conclusions).
▪ Risk is unavoidable
Everywhere risk is unavoidable, many people have the misconception that by taking a job they are secured but the truth is that even jobs are risky. Jobs are risky because companies usually downsize which simply means that they will fire employees. Downsizing occurs for many reasons, including cutting costs and outsourcing. Other reasons why jobs are risky is because companies may want to fire you due to aging, decrease in productivity, newer talent, etc. In entrepreneurship there are risks too but the difference is that as an entrepreneurs you have the power to manage those risks and even if you fail you can always start anew. Also as entrepreneur you have the power to decide when and where to start your new venture. Being an entrepreneur allows you to be free and to write your own destiny.
▪ Failure is inevitable
Failure can happen because of many reasons including poor planning, poor research, and all sorts of human errors. As an entrepreneur you must learn to focus on the ultimate outcome rather than on the set backs that you may encounter in the process. The point is not too focused on failure itself but on the things you can learn from it.