Myths of entrepreneurs 2

More myths and the realities of entrepreneurs and entrepreneurship…

Entrepreneurs are their own bosses and completely independent…

Entrepreneurs are far from independent and have to serve many masters and constituencies, including partners, investors, customers, suppliers, creditors, employees, families, and those involved in social             and community obligations. Entrepreneurs, however, can make free choices of whether, when and what they care to respond to. Moreover, it is extremely difficult and rare, to build a business beyond R10 million in sales single-handedly.

Entrepreneurs work longer and harder than managers in big companies…

There is no evidence that all entrepreneurs work more than their corporate counterparts. Some do, some do not. Some actually report that they work less.

Entrepreneurs experience a great deal of stress and pay a high price…

Being an entrepreneur is stressful and demanding. But there is no evidence that it is any more stressful than numerous other highly demanding professional roles, and entrepreneurs find their jobs very satisfying. They have a high sense of accomplishment, are healthier, and are much less likely to retire than those who work for others. Three times as many entrepreneurs as corporate managers say they plan to         never retire.

Start a business and fail and you will never raise money again…

Talented and experienced entrepreneurs – because they pursue attractive opportunities and are able to attract the right people and necessary financial and other resources to make the venture work – often head successful ventures. Further, business fail, but entrepreneurs do not. Failure is often the fire that tempers the steel of an entrepreneur’s learning experience and street savvy.