Some Myths about Entrepreneurship:
Over the years, a few myths about entrepreneurship have developed. These are as under:
- Entrepreneurs, like leaders, are born, not made:
The fact does not hold true for the simple reason that entrepreneurship is a discipline comprising of models, processes and case studies. One can learn about entrepreneurship by studying the discipline.
- Entrepreneurs are academic and socially misfits:
Bill Gates was a school drop-out. As was Michael Dell and Steve Jobs. Therefore, this description does not apply to everyone. Education makes an entrepreneur a true entrepreneur.
- To be an entrepreneur, one needs money only:
Finance is the life-blood of an enterprise to survive and grow. But for a good idea whose time has come, money is not a problem.
- To be an entrepreneur, a great idea is the only ingredient:
A good or great idea shall remain an idea unless there is proper combination of all the resources including management.
- One wants to be an entrepreneur as having no boss is great fun:
It is not only the boss who is demanding; even an entrepreneur faces demanding vendors, investors, bankers and above all customers. Someone once said to me that starting a business after having a boss was like moving from having one boss to having 50 bosses – with each customer being your boss.