Myths and pitfalls of entrepreneurship

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MYTHS AND PITFALLS OF ENTREPRENEURSHIP

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Anyone who expresses their intention to start a business will hear a barrage of opinions about the myths and difficulties of entrepreneurship. Knowing the importance of entrepreneurs and our contribution to society, I would not want you to give up entrepreneurship because of false myths and avoidable difficulties. Within the analysis of the figure of the entrepreneur, it is worth looking at the myths created around him or her:

"... entrepreneurs are born, not made...".      

Among the myths and difficulties of being an entrepreneur that are most often used is this fatalistic view of entrepreneurship. Nobody is born an entrepreneur. If you want to learn how to be an entrepreneur you have to acquire competences (+) and habits that you can work with in a programme such as the one in mentorDay acceleration (+). It is true that some few people may be happier in paid employment than in self-employment, but the intra-entrepreneurThe entrepreneur within the organisation is a profile that is becoming more and more important. is becoming more and more valued.

"Entrepreneurship is too risky".

Entrepreneurship and risk go hand in hand, there is always risk, but taking the right measures it is false that it is too risky. It is possible to mitigate the risk of entrepreneurship so that in case of failure we do not face consequences that are difficult to bear. One competence of the entrepreneur is to take calculated risks. This is called minimising risks (+).

"I have no resources", "I don't have enough money".    

Among the myths and difficulties of entrepreneurship, this is perhaps the most frequently mentioned. The truth is that a good entrepreneur, with a viable and well-planned business project, will always get the resources he or she needs. A good acceleration programme points the right way to obtain them. In fact, an entrepreneur with many resources is not capable of making a project viable, i.e. companies must be created by spending the minimum amount of resources to learn and succeed.

"Too much paperwork, red tape, bureaucracy, etc.".

In Spain alone there are 3 million companies with an active population of 17 million people. If others have achieved this, it will not be so complicated. Another desirable skill in this respect is the patience. After reviewing the most common objections to entrepreneurship, we suggest you learn about the most common objections to entrepreneurship. requirements (+) that we consider really necessary to be an entrepreneur.

FEAR OF FAILURE

In order to create a successful business, it is necessary to fail several times; it is said that on average there are 3 failures for every success. Trying and failing is the only way to learn. The problem comes when we put all our resources into a project without testing it. That's why during the mentorDay acceleration programme we teach you to reduce risk, to test, to experiment before you spend money.

SUMMARY OF MYTHS AND DIFFICULTIES

It is important to demystify the obstacles that entrepreneurs often face and provide them with the information and support they need to succeed. I would now like to elaborate on some of the points you mentioned:

  1. "Entrepreneurs are born, not made: This is one of the most common myths about entrepreneurship and, as you rightly say, it is not true. While some people may have certain innate characteristics that make them more prone to entrepreneurial success, anyone can learn to be an entrepreneur if they have the right attitude and are willing to work hard to develop the necessary skills.
  2. "Entrepreneurship is too risky: As you pointed out, entrepreneurship always involves a certain degree of risk. However, successful entrepreneurs are not reckless risk takers, but are able to identify risks and take steps to mitigate them. A good accelerator programme can teach entrepreneurs to do a risk analysis and make informed decisions to minimise risks.
  3. "I have no resources: It is true that funding can be an obstacle for some entrepreneurs. However, there are many financing options available, from bank loans to government grant programmes and business accelerators. In addition, a good entrepreneur can leverage their existing skills and resources to start their business with minimal investment.
  4. "There is too much paperwork, bureaucracy, etc.": Although it may seem overwhelming at first, most business bureaucracy can be easily addressed with the help of an accountant or lawyer. In addition, many governments are working to simplify the process of setting up a business and reduce the amount of paperwork required.

In conclusion, entrepreneurship can be a challenging path, but it can also be one of the most rewarding. With the right attitude and the right support, anyone can learn to be an entrepreneur and succeed in their business.

APPLY THIS TIP TO YOUR PROJECT

Now that you have learned all about this TIP, you should be able to answer these questions:

  1. Is lack of financial resources an insurmountable obstacle to entrepreneurship?
  2. Can anyone be an entrepreneur?
  3. Are you afraid of failure?

We encourage you to do the exercise of answering them!

QUIZ

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THINK ABOUT HELPING OTHERS

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Fernando Weyler

Fernando Weyler

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