As per the rough estimation, one in every 18 people around the world owns his or her own business. Some people establish an enterprise to chase opportunity, while others — including many entrepreneurs in emerging countries — do so out of absolute requirement because it’s the most assuring method to earn a living in their region. Whatsoever their location or motivation, every would-be entrepreneur can gain plenty of benefits from learning what the role really requires. Do you what is a good place to begin? If no, then keep yourself hooked and read further. Kassem Mohamad Ajami discusses some misconceptions about the entrepreneur.
A good place to begin is linked with the many misconceptions associated with entrepreneurship — debunking these can help startup leaders to understand what’s truly essential to accomplish success with their new company. Let’s discuss a few of them.
- A good idea is enough: Many people assume that only fantastic idea is needed to establish and run a company. While this idea isn’t completely false, it is deceptive. Even the very best and unique ideas — ones with the capability to mess up an entire industry — require a proper implementation to become reality. Ideas are essential, but so is proper preparation, talent, leadership, communication, and a host of other aspects. Running my own business will give me more free time
- Running a business proffers more time: This is not entirely a pseudo assumption but unluckily it’s a long way from certainty. While successful business owners can find more free time as the business progresses, in the initial levels business owners often find themselves in investing extra hardships than they would have thought. This can remain constant for many years until the owner feels relaxed enough – and fruitful enough – to delegate.
- Establishing a company much wealth: Some entrepreneurs fallaciously assume that beginning a business will put them on the fast track to producing considerable amounts of money in much lesser time. Although some start-ups get successful immediately, others take a little longer time to reach there. Sustainable growth and expansion of a company are two different things.
- Only money encourages employees: A myth associated with the “get rich quick” notion is the misconception that money is the best way to encourage employees. It has been reflected in the recent statistics that millennials, who are quickly becoming the majority in the workplace, would rather earn less at a job they relish than protect a higher wage doing something they don’t like. Busting this misconception sets a serious responsibility on the businessman to develop not only a business model that yields revenue but also a company culture that encourages employees.