Heading down the road of entrepreneurial ventures can be a path filled with both excitement and mystery. On one hand, you have an exciting new idea that you feel can change the world for the better. On the other hand, you don’t know what to expect. You’ve heard every horror story imaginable about the hard work other entrepreneurs have put into their business just for it to fail.
According to Ammon Cunningham, majority of entrepreneurial failures come due to the belief in myths and naysayers. Being able to sort through the mess of myths that plague the entrepreneurial world can help you find a better sense of comfort in your business. The following are the top 4 common myths that are associated with entrepreneurs.
1. You are Your Own Boss
One of the most attractive aspects of being an entrepreneur is the belief that you don’t have to report to anyone but yourself. Negative. As an entrepreneur, you have a list of suppliers, creditors, investors, and most importantly, your customers, to report to. There is a sort of freedom that comes with running your own business, but being your own boss is not one.
2. If It Works for Them, it Will Work For You
Applying the “good for the goose, good for the gander” mentality to approaching your business will leave you scratching your head in confusion as to why your business is failing. When has one idea ever worked completely across the board without needing to be tweaked a little? There are no such things as “cookie-cutter” business models in entrepreneurship. Creating a strategy that yields results for your particular business takes time, research, and a complete understanding of how your service or product fits into its industry.
3. Entrepreneurs Stress Less.
For some reason, people believe that owning your own company is less stressful than being an employee for someone else. The exact opposite is true. Starting and growing your own business comes with perks and the rewarding feeling is unmatched; however, you are responsible for every aspect of that business running smoothly. Where employees can opt to leave the problems of their job at their job, you need to constantly resolve problems and think of ways that can grow your business. Choosing to become an entrepreneur to reduce your stress levels is not the route to go.
4. It’s Easy to Get Rich
If your sole reason for starting a business is to reap all the riches and glory the world has to offer, then you will be sorely disappointed. There are financial benefits to being your own boss, but at the same time, there are extreme risks that do come with the territory. One issue that faces many entrepreneurs is their belief that they will immediately start making money and living the good life. That is just simply not true. Operating a profitable business takes time and patience. You may lose money before you make money, but don’t consider yourself a failure. Consider it growing pains and continue to press forward within reason.
Ammon Cunningham believes that tackling these 4 myths first will help your journey to becoming a successful entrepreneur. Sorting your way through the pile of myths that are throughout the entrepreneurship world will help you in the long run on the growth of your business.