In today’s business world, entrepreneurship is becoming more and more popular. With the rise in the number of entrepreneurs, however, comes an inevitable rise in the legends, tales, and myths surrounding them. As Entrepreneur Magazine points out, “As people are trying to navigate away from the “corporate jungle” towards the land of supposed “entrepreneurial utopia,” a lot of misconceptions arise.” Some of those misconceptions may come from the media, from other entrepreneurs, or just through the grapevine, but they can be damaging to those who are just starting out. Let’s take a look at some of the top myths which entrepreneurs are told.
- It takes a lot of money to start a business. Bplans says that this just isn’t true. As a matter of fact, typically, startups take anywhere from ten thousand dollars to twenty-five thousand to get up and going. Some entrepreneurs have even managed to start with less, using free internet resources to get their business started online.With shared office spaces and office space to rent in Wellington such as Offix, you can even afford an office space for much less than you’d think. You can enjoy private desks, private offices, video conference rooms, meeting rooms, and open spaces all for far less than traditional office spaces. Even cleaning services are included in your package. You can’t get that from a home office. Shared office spaces and coworking spaces can typically be rented by the day, the week, the month, or the year to fit into your budget.
- A good product or service is all it takes to be successful. This is not always the case. If you have an awesome product or service but have no idea how to market it, for example, then your idea is literally going nowhere. Building your brand and marketing it are the keys to getting the word out about your product or service. You will also need to make sure there is a market for your idea.
- Successful entrepreneurs never quit. Forbes asks the question, “Whoever came up with this idea that quitting is bad, and that entrepreneurs don’t quit?” and then answers it with, “Quitting is what makes an entrepreneur an entrepreneur.” Steve Jobs, for example, was so much of a quitter that he didn’t even finish college. And Thomas Edison made a thousand unsuccessful attempts at inventing the light bulb…and as he said, “I have not failed, I’ve just found one thousand ways that won’t work.”
- Entrepreneurs are their own boss. This is another myth which Forbes dispelled. Many people dream of owning their own business so that they no longer have anyone to answer to. Unfortunately, this is not how it works. Even if you are at the top of the food chain in your company, you will have to answer to your clients, to your customers, and to yourself. If you have investors, you will have to answer to them as well. You will even have to answer to your own employees at times.
- Being an entrepreneur will make you rich. Steve Jobs. Truett S.Cathy. Bill Gates. These names have become synonymous with entrepreneurship. To many, this means that if they become entrepreneurs, they will become millionaires. Being an entrepreneur isn’t a get rich quick scheme, however. Being an entrepreneur is about seeing a need within a culture, and inventing a solution to that need, and then selling that solution. It does not always end in success, and even when it does, that success is not always in the millions. Sometimes, it is just enough. Coworking spaces in Wellington like Offix make it possible to afford much more office space to meet with clients and work on projects, even on a dime.