Did you know? Around 73,000 working-age people in India have their own businesses. Some start their business to pursue a unique opportunity, while others do it out of necessity.
Entrepreneurship is not for everyone, though. It is a very challenging yet fulfilling activity that needs a strong will and mental preparedness to take quick decisions without batting an eye.
However, there are several myths about being an entrepreneur, stemming from legends, movies and a lot of ‘Shark Tank’ episodes, which discourages many from starting their own business.
Debunking these can help potential entrepreneurs realize what is truly needed from them to succeed with their business ideas. Here are some of the most popular myths about entrepreneurship:
They take a lot of risks
This popular myth works as an effective scarecrow against potential entrepreneurs. Yes, entrepreneurs take risks, but not necessarily a lot of risks or for taking risks.
Entrepreneurs take well-calculated, purpose-driven and informed risks that reap more results than if they had not taken risks.
They are born, not made
Many potential business owners believe that entrepreneurship is an innate quality & entrepreneurs are born with some special abilities. However, this could not be farther from the truth.
Any person can become an entrepreneur with the right confidence, attitude and passion. This myth has been debunked by many entrepreneurs from non-entrepreneurial backgrounds who have proven that you can still reach the top while starting from scratch.
They never quit
‘Entrepreneurs never quit’ is one of the most popular myths that have spread into our culture. In reality, however, knowing when to quit is what makes an entrepreneur one. After all, over 90% of startups in India fail in the first five years.
Of course, entrepreneurs need perseverance and a get-it-done attitude, but there comes a time when you must hang up the boots before going neck-deep in debt.
In conclusion, if someone aspires to start their own business, they must immediately stop believing in such myths. As much as the world tries to list out the skills and strengths it takes to become one; entrepreneurs are essentially disruptors and mould-breakers.
You don’t need the right genetics or traits to start your own business. All you need are the right skills and a good business plan to begin.
Apart from these, you would also need an office to work from. However, this would mean getting a fixed office space that is expensive and beyond your needs. There is, of course, a better alternative – coworking spaces.
Besides being a budget-friendly option, coworking spaces in India, like iSprout, promote a collaborative work environment that is especially useful for entrepreneurs.
Visit iSprout’s coworking spaces in India today to explore our flexible plans for entrepreneurs.