4 Commonly Held Misconceptions Surrounding Entrepreneurship
Do you want to become a successful entrepreneur like David Walsh Bronxville native? You are not alone. America, land of freedom and dreams, where you are supposed to be able to accomplish anything you can imagine through a combination of grit and hard work, is filled with others who share your aspirations. With these many potential business owners, there also come a great many fallacies about entrepreneurship.
1. It’s Easy
A lot of people think striking out on your own takes less effort than traditional employment. This is untrue. A lot of work goes into just getting a company off the ground. As stated by Entrepreneur, statistics from the Bureau of Labor Statistics show that around 20% of small startups crash within their first year. The path to making it as a businessperson like David Walsh of Bronxville is more likely to be paved with sharp pointy rocks than smooth stones.
2. It Requires Connections
Knowing the right people generally makes the road ahead a little easier to traverse. However, starting out with those relationships already in place is not a requisite for prosperity. What is actually needed is the drive, perseverance and ability to create them. You have to be ready and willing to call, email, text and message the important people on your own. If it’s to be, it’s up to you to get it going.
3. It Frees Up More Personal Time
Many individuals believe that because entrepreneurs are no longer working a regular nine-to-five job they have tons of hours to do whatever they wish. After all, they are now the masters of their own schedules. The reality is, starting a business necessitates a massive initial time investment. Even after you have pushed past that rough entrepreneurship beginner stage, all the minutiae and day-to-day operations handling eat away at available minutes. Running your own thing is actually a lot like being on constant overtime. Your shift never really ends.
4. It Only Needs a Single Good Idea To Work
Another myth many ascribe to is that the only thing they need to succeed is one good idea. Everything will fall into place as long as this stipulation is met, and money will flow straight into their coffers. The truth is, great ideas are a dime a dozen, often not as original as you might think and worth nothing unless acted upon. You have to take yours, plan smart and put in the effort to see the results.
Entrepreneurship is far from a simple undertaking. The demands are great, the returns often not so much so at the start. Chance also plays quite a role. Without a great deal of dedication, your attempts may crumble. It is vital to stay informed and aware of the facts. Despite the odds, it can be the freedom you desire and worth all that work!