Are you contemplating starting a new business but you are already getting overwhelmed because of the different myths that have been fabricated? Or maybe you own a new business already but you are getting discouraged due to the kind of information or quotes that have been written by big owners or even successful business owners. Well, do not be discouraged or overwhelmed, all negative myths will be disapproved and maybe you can find your inspiration today.
Popular Entrepreneurial Misconceptions
Successful Entrepreneurs are naturally Blessed
Some people often think that successful business owners are divinely blessed and are naturally designed to be successful. Oops! That’s one myth that discourages aspiring business owners.
The truth is that there is no universal rule or formula that has been tested to conclude that all successful entrepreneurs are naturally programmed by fate to enjoy success over others.
Success comes as a result of the manipulation of hard work, smart work, resources, and connections that have been channeled into a business. Do not be deceived, you haven’t been programmed to fail. Put in the work and results will come to reality.
Entrepreneurs should be young
The truth is that young people are more energetic, ready to take more risks, and usually have lesser to lose compared to older people. However, this negates the fact that there are no boundaries for what age people should start their businesses.
Do not have any regrets that you didn’t start your business at an earlier age.
While a lot of successful young startup owners have emerged over the years it is quite noteworthy to note a few people that never started their companies until after 40years of age.
- LEO Goodwin started GIECO at the age of 50 and it went on to become a successful enterprise with over 14million policyholders.
- The popular Kentucky Friend Chicken (KFC) was started by Harland David Sanders at the age of 62.
- Robert Noyce, the world-renowned research engineer co-founded Intel at the age of 41.
- While most social networking platforms are owned and started by young people with brilliant tech minds, LinkedIn was 43 when Reid Hoffman made moves for the professional media network to go public. Although he was 35 when he started it.
So if you still have a solution to one of the world’s numerous problems, it doesn’t matter what age. Get started and kick the ball rolling, there’s greatness to be achieved.
The secret to success is by …….
A lot of successful people have given interviews or released a lot of books and other publications where they have shared their experiences and highlighted a few things that catalyzed their success. Some have highlighted hard work as key, and some others have explained how education and how building connections are keys to achieving success.
The truth is that there are no secrets. Each and everyone is subjected to his or her journey. Entrepreneurial obstacles can be overcome using a different method and that’s the gospel.
Successful businesses are answers to certain problems
Everyone thinks that all successful business ideas must be wrapped around a specific problem. The logic is that if you solve a certain problem that no one has solved before you’ll make millions of dollars. Although there might be some elements of truth to this, it is however not entirely the truth.
A bunch of top companies have provided solutions to the same problem. Take, for instance, Facebook Twitter, and Instagram are all social media platforms offering the same chatting and communication services. There are a lot of fast-food restaurants with hundreds of branches all over the world.
The setup and branding might be distinct but it all boils down to the same primary solution.
No Time for Personal Life Activities
It’s a myth that entrepreneurial activities are filled with too much work and a lack of fun. Successful startup owners have a track record of creating family time and fun time as well. There is no restriction. Work is work and personal life is personal life.
If work interferes with personal life, it is because the owner allows it. A proper schedule will create and separate time for work and extracurricular activities.
There are no set rules for success. The key is to have a proper plan and the right amount of belief and energy dedicated to turning dreams into realities. Create your business plans today, set milestones, source for funding (if needed), and keep moving to make this work.