Entrepreneurship can be a rewarding yet difficult undertaking. Most would-be entrepreneurs never take the plunge because of fear and perceptions. Even if a person has no fear of going into it, they will often encounter obstacles or others who will try to talk them out of it. There are more reasons given not to become an entrepreneur than there are encouragements.
We would like to show the reality versus the perceptions when it comes to entrepreneurship.
“Entrepreneurs are born, they are not made”
Reality
An Entrepreneur may have some innate intelligence, but becoming such happens by accumulating skills, know-how, experience, and contacts for a period of more than ten years. At present, business schools are scattered around the world, and self-learning books to achieve success abound in bookstores.
“Anyone can start a business “
Reality
In reality, it is not like that, and the majority of people who start the process of starting a new company, fail. The easy part is starting a business, starting it; The challenge is to survive, sustain, and build a company so that afterward, they can reap the rewards.
“Entrepreneurs are gamblers”
Reality
Successful entrepreneurs take careful and calculated risks.
“Entrepreneurs want everything for them”
Reality
The great and potential Entrepreneurs build a team, an organization, a company, and also 100% of nothing is nothing.
“Entrepreneurs are their own bosses and completely independent”
Reality
They must respond to investors, partners, employees, family, etc. although they can freely choose when, to whom, and what to answer.
“Entrepreneurs work longer and harder than managers of large companies”
Reality
There is no specific evidence about this, some work more than others, but current reports indicate that they work less.
“Entrepreneurs pay dearly with stress and health”
Reality
Being an entrepreneur is demanding and stressful, but there is no evidence to indicate that more than what other professional roles demand. In favor, they are fully satisfied with their work.
“Entrepreneurs must be young and energetic”
Reality
It is not a barrier, while some begin in their 30s, others do in their 60s, relevant is the know-how, experience, and contacts that facilitate the recognition and pursuit of an opportunity.
“Entrepreneurs seek control and power over others”
Reality
Successful entrepreneurs are driven by the pursuit of achievements, responsibility, and results rather than power.
“Talented entrepreneurs achieve success in one or two years”
Reality
Rarely a stable business is established in less than 3 or 4 years.
“Entrepreneurs with good ideas can summon a venture capital”
Reality
Entrepreneurs with good ideas that sought a capital Venture only 1 to 3 out of 100 managed to create a company.
“Entrepreneurs are lone wolves, they cannot work as a team”
Reality
The most successful, build great teams, and effective relationships to work with their peers, directors, investors, customers, and suppliers.
“Money is the most important thing for them”
Reality
A feeling of personal fulfillment, achievement, control of their own destiny, realize their visions and dreams are their most powerful motivators. Entrepreneurship creates a lot of wealth, but it is distributed unevenly.
“With enough money for the start-up, you cannot fail”
Reality
The opposite is always true; with too much money at the beginning and lack of discipline and impulsive spending, usually leads to severe problems and failure. The typical start-up only requires around 25 thousand dollars.
“Entrepreneurship is expensive and usually ends in failures”
Reality
Businesses fail, but not the Entrepreneur. Failures temper it with the learning experience.
“Unless you have a high SAT or GMAT, you will never be a successful Entrepreneur”
Reality
An Entrepreneur’s IQ is a unique combination of creativity, motivation, integrity, leadership, team builder, analytical ability, and the ability to deal with adversity and ambiguity.
“Luck is everything for an entrepreneur.”
Reality
Although luck can help, it is not determinative. In reality, more than luck, a good entrepreneur needs the right attitude to capitalize on opportunities.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
