A lot of people want to become an entrepreneur and take control of their work life. But, most tend to procrastinate when it comes to setting up their business as they believe in common myths surrounding entrepreneurship. You need to remove such thoughts from your mind to become successful. In this article, you will learn about some such myths and why you must not pay any heed to them.
Entrepreneurship can be an easy process
Many people feel that becoming an entrepreneur is easy, especially after they see other entrepreneurs gaining lots of success. However, they generally miss assessing the hardships that successful entrepreneurs go through. For instance, after seeing a successful restaurant owner, one can feel that to run a good restaurant, all one needs is tasty food and a good ambiance in a lovely location. However, this is only part of their success story. David JC Cutler notes that people forget to notice the other essential factors like marketing, research, development, human resource, training personnel, system optimization, etc. Hence, entrepreneurship may appear to be easy and simple, but that is not the case.
David JC Cutler observes that entrepreneurship is not difficult either
It may seem confusing, but entrepreneurship is not extremely difficult or unattainable either. Several people feel overwhelmed by the various aspects of entrepreneurship and give up thinking that they are not up to it. However, this is not so as entrepreneurship only requires sustained time and effort. You have to invest a lot of time to learn about how you can build up a business and then put more effort into applying that knowledge to run the business. Once you prepare a blueprint on how you want to run the business, you will see that the rest of the process is quite simple.
The failure rate can be pretty high for an entrepreneur
Studies have revealed that almost 90 % of all new business ventures fail within the first 5 years. Those ventures that do find some success are susceptible to failure within the next decade. Thus, one may feel that the failure rate is significantly high amongst entrepreneurs from looking at these figures. But, according to entrepreneur David JC Cutler, you also need to understand that statistics should not determine your potential for success because these are just numbers. Your performance will determine your success.
You will see more people falling in every aspect of life, from business to sports. The number of people who ultimately succeed is always far and few in between. So, it is usual to see more people in the group of unsuccessful entrepreneurs. So, all you need to do is believe in yourself and continue to learn the tricks of the trade to become a successful entrepreneur.
As an entrepreneur, you have to work hard and diligently to attain success. Your success will not come quickly, but it is also not too difficult to achieve. Consistency and perseverance will ensure that you gain success.