7 Misconceptions about Entrepreneurship

entrepreneurship

(This article was published under Paytm cash reward campaign held between February 3-11,  2018. Author “Vaishali Parnami”, Email: ”vaishaliparnami04@gmail.com” has been rewarded INR 300 as Paytm cash for the same.)

Entrepreneurship is an ideal career option in our society and it is not hard to see why. We love the idea of unique innovations, wild growth opportunities, and a prestigious way to gain wealth. With this, famous entrepreneurs like Mark Zuckerberg also inspire people to achieve big and create an everlasting impression.

While all this is no doubt great, many young entrepreneurs get caught up in entrepreneurial misconceptions and end up losing everything. Let’s see what are these misconceptions.

Education is not necessary for entrepreneurship

Bill Gates, Steve Jobs, and Mark Zuckerberg are surely college dropouts, but that does not mean education is not required at all. They are just exceptions, not many dropouts make it big and college/school experience help in entrepreneurial tasks.

Also, you should note that these people were actually dedicated students until the time they were in college/school. So completing education is the best way to proceed towards your dreams.

Marketing is not needed for amazing products

There are so many products and services in the market that no matter how amazing yours is, people won’t get to know about it just like that. Marketing is required to spread the word and at least let your potential audience know that they can utilize your product or service.

Startup success is a result of great ideas

Yes, great ideas contribute to the success of your startup, but in reality, successful startups are more about great execution. Apple was not the first consumer electronics company, nor Facebook was the first social network.  What counted in their success was the execution.

You don’t need to look after smart employees

If you think hiring smart employees will make everything work, then no, that is not true. You need to manage these employees to yield high throughput and utmost quality.

Customer feedback can be ignored

Considering customer feedback is essential for most products and services. You will have to listen to your customers from the very starting to avoid coming up with a product they do not need. You can’t go ahead with an idea that attracts a minimum audience.

Either you’ll succeed in a blink or not at all

Success takes time, and this might have exceptions, not everybody gets there so fast. Coming up with an idea is just the initial step and to make it a success you need time, mostly more than you would have imagined.

Innovation is for youth

If you believe that you can only reach success if you hire young minds, then you need to change this belief. Every startup is a combination of experience and innovation, and the experience sometimes comes from old people.

Exceptions are always there, but we should not mistake those for rules. Ultimately it all boils down to your commitment, perseverance, and efforts towards the cause.

Wishing you a successful entrepreneurship journey!

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