Common Misconceptions About Entrepreneurship

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Common Misconceptions About Entrepreneurship

misconceptions

Do you have a vision for a small business and dream about the day that your hopes become a reality? Most people who want to start a business never actually take the plunge, and there are many reasons why would-be entrepreneurs never become actual entrepreneurs. Starting a business is a daunting concept, and things that hold people back from chasing their dreams often include the likes of life changes, finances and fears over the unknown. It may be these things or a number of misconceptions that are keeping you from moving forward.

If you are on the fence about starting a company, it could be helpful to consider the various misconceptions that are holding you back. The fear of the unknown is powerful, but it’s important not to allow it to dictate whether or not you will pursue your dreams. Instead, it can be helpful to take a practical, honest look at what it’s like to be a small business owner. Whether you have the wrong expectations for what it will be like or you are unsure of what to expect, consider the following commonly misunderstood things about entrepreneurship:

  • My business idea is good so it will be easy to be successful — Not so fast! Even the best ideas require time, dedication and hard work to execute. Success rarely comes easy, but it will come to those who aren’t afraid to put in the time and effort.
  • It will be great to be my own boss — Being your own boss may not be everything it’s cracked up to be. It’s challenging and often frustrating, and many times, you won’t know what to do next. It is still immensely rewarding, however, and you can use the uncertainty to compel you to dig deep and keep pushing forward.
  • I’ll set my own hours — Technically, you will be able to set your own hours — but don’t overlook the fact that you will have put in a lot of hours. Especially in the beginning stages of starting a business, entrepreneurs have to go above and beyond normal work hours to get established and develop customer loyalty.

Do you have misconceptions about owning your own business? They don’t have to to hold you back — do some research and take the time to speak to successful entrepreneurs or business planning consultants to learn more. Knowing what to expect can help you avoid a significant amount of stress and heartache as you start your entrepreneurial journey.

By Meagan Kerlin for Vertu Marketing LLC