Entrepreneurship Myths
With entrepreneurship rapidly gaining popularity, there are also many myths and misconceptions of entrepreneurship today.
This article today offers some of them, I’ve highlighted them in quotation marks and added my thoughts below.
Entrepreneurship = Work life balance
“Running your own business is a way to achieve better work/life harmony”
Just the opposite, entrepreneurs might be the job with the worst work life balance you can have: your business is your baby, so you think of it all the time and you take care of it all the time, 24/7.
Entrepreneurship = Risking it all
“Entrepreneurs who kept their day jobs were 33% less likely to fail than those who don’t.”
Having day jobs provide you with more experience and skill sets. The media usually only showcases the narratives of entrepreneurs taking all the risks and jumping right in, but reality is mostly not the case.
Entrepreneurship = Passion
“Perhaps the most destructive misconception around entrepreneurship is the importance of passion.”
Passion is certainly important, but there are many other practical aspects that have to be considered more critically. Passion may even lead to a self reinforcing optimism of the business, which is ultimately detrimental.
