There’s a lot of confusing advice and information out there about what it takes to be a successful entrepreneur. Let’s debunk some common myths about what exactly is an entrepreneur.
I’m just one awesome idea away from success.
A cool idea is a good start, but It takes more than that to build and keep a successful business. You need at least some funding. Be sure you’re developing your idea in the right market or industry.
Also, as the old saying goes, “It’s not what you know. It’s who you know.” Successful entrepreneurs learn how to offer their ideas to the right customers.
All entrepreneurs are rich.
This belief is false, especially about what exactly is an entrepreneur. Sure, some kids grow up in rich families and have parents who help finance their companies. But a lot of other kids and grow up in families that aren’t rich. Some of these kids start businesses as young adults.
Most entrepreneurs, regardless of their current finances, need some time to grow a business.
And business results vary widely. Some of these businesses fail.
Some businesses are a source of extra income for its owners. Other entrepreneurs have a full-time income from their business.
And yes, some entrepreneurs even become rich.
It’s also common for an entrepreneur to have varying levels of success and income while building a business or multiple businesses. How you end up depends on you and your business.
3. I don’t need to spend a lot of time building a business.
Don’t let your favorite social media celeb fool you about what exactly is an entrepreneur. It takes a lot more than a couple minutes to tweet, and more than 10 minutes to shoot a YouTube video, when building a successful business.
There’s a lot of marketing, budgeting, learning and other things going on behind the scenes of every successful business you see. And all of these responsibilities become yours, especially when you’re a new entrepreneur.
It takes time to get your business to a point where you can bring in people to help you grow your business. And you will still be busy because you’re now managing freelancers and/or employees.
4. I’m not like a boss. I am the boss.
Sorry to break this bad news to you: Everyone answers to someone, even entrepreneurs and “solopreneurs.” When you start a business, you have to make sure you’re following the rules.
What rules? There are so many examples.
Got a cool idea/story for a YouTube video? You need to make sure you have permission to use any images, video footage, and music included in that video.
Then there are local and federal levels of government. You might need a permit to carry out certain parts of your business.
Don’t forget about your customers or clients. They should play a large role in how you provide a product or service.
And that’s just the beginning of the spoken (and unspoken) rules you could run into while having your own business.
Being a successful young entrepreneur is not limited to just one specific personality type. There’s a lot to learn about what is an entrepreneur, even if building a business feels like a natural talent for you.
6. Entrepreneurs are introverts.
Your business might start with you being its only employee. Sometimes you can work by yourself on parts of your business. Being comfortable with working independently can help you as an entrepreneur.
But you will spend a lot of time working with others, even if most of your work is online.
It’s also important to have a group, even if it’s a small group of people (friends, family members, etc.) who support you as an entrepreneur.
You will also want to network with people who can show you how to grow your business.
Final Thoughts on Myths about what Exactly is an Entrepreneur
Running a business is challenging enough without also listening to mixed messages about what is an entrepreneur. Remember:
- Having a great idea is just one part of building a great business.
- You don’t have to have a lot of money to start your own business.
- You do need to give your business time to grow.
- You are responsible for following rules and laws. You also have to keep customers happy.
- Being an entrepreneur is a skill that you learn. It’s not a natural-born personality.
- Different personalities, including introverts and extroverts, can be successful entrepreneurs. There’s more than one type of entrepreneur.
Use these tips to create a great business that reflects your unique talents and interests.