Entrepreneurship is one of the adorable self-employment jobs available in the market today. Unfortunately, the whole concept of entrepreneurship is shrouded in various myths and misconceptions. As an aspiring entrepreneur, it is important to understand these myths in order to steer clear and have an unbiased view of what you are venturing into. Here are 5 major myths regarding entrepreneurship.

  1. I will become my own boss

It is a common misconception that by investing in entrepreneurial businesses, one becomes his or her own boss, with no one to answer to. Unfortunately, the reality is that business owners must answer to various persons, even their subordinates. For example, a business owner must be accountable to his or her employees, shareholders, customers, board members, and other investors involved in running the business.

  1. I will get rich quickly

The fact that one runs his or her own business does not imply that all the proceeds will go into his or her pockets. The ‘get rich quickly’ misconception is so advanced that people rush into investing in businesses while expecting quick returns. On the contrary, success in entrepreneurship may take time, up to 10 years, before good returns are actualized.

  1. I will become flexible

Most people have been duped into thinking that running their own businesses give them much flexibility as compared to working as an employee in a company. As an entrepreneur, your flexibility is greatly restricted, especially since you have to commit every bit of your available time to ensure that you run your business just right. There as various sacrifices expected from every entrepreneur, such as spending a few sleepless nights, no weekends, and have a hectic day at work.

  1. I am walking into freedom

Starting a new business does not mean that you will become free to do anything you want. It does not give you the license to arrive at the workplace late and leave early, especially since your workers will be looking up to you. Being a business owner, therefore, does not give you the freedom to make whatever decision you desire as that may ruin all your investments.

  1. I was born a great entrepreneur

People often think that they were born as great natural entrepreneurs and business persons. This is overly false as great entrepreneurs are made by evolving from one level of confidence and competency to another. As an entrepreneur, one has to invest in skill acquisition and allow room for change and growth.