What are the myth about Enterpreneurship ? Explain any two.
Answers
Myth No. 1: Entrepreneurs Are High Risk Takers
Entrepreneurs, Rye states, are often thought of in terms of the risk they assume. Even the dictionary describes an entrepreneur as one who assumes business risks. However, like all prudent businesspeople, entrepreneurs know that taking high risks is a gamble. Entrepreneurs are neither high nor low risk takers. They prefer situations in which they can influence the outcome, and they like challenges if they believe the odds are in their favor.
They seldom act until they have assessed all the risks associated with an endeavor, and they have an innate ability to make sense out of complexity. These are traits that carry them on to success where others fail.
I certainly agree with Rye. Entrepreneurs generally seek the best risk/reward situation. Like most humans, they are often are a little hesitant to risk everything and take wild chances.
One way entrepreneurs can limit the risk they are exposed to is by choosing one of the best business ideas out there. Knowing which businesses to start and which to avoid is the first step towards success.
Myth No. 2: Entrepreneurs Are Born
Many people, Rye says, believe that entrepreneurs possess innate, genetic talents. However, experts generally agree that most entrepreneurs were not born; they learned to become entrepreneurs. The recent proliferation of college and university courses on the subject supports this point. Entrepreneurship is currently being successfully taught.
Again, I agree with Rye. I can’t overemphasize the fact that almost anyone can be a successful entrepreneur. However, every aspiring entrepreneur should ask themselves these questions before committing to a business. Starting your own company is not an easy decision and you must understand that it will change your life in many ways.