Stop Believing these Entrepreneurship Myths #Success #Leadership

By Josh Okello

 I want to be successful. I have a dream. I am a hard worker. I go to bed late and wake up early. Donald Trump did it so I can. Elon Musk did it and I can do it too. Richard Branson did it and I am on my way to make it too. Kevin O’Leary, Oracle of Omaha, Bill Gates and the list goes on and on. What people fail to think about is that all these people are very unique, are in very different businesses, have different personality and get excited by different things.  Your definition of success is not how those entrepreneurs above define it. You are yourself and they are who they are.

These are some of the myths that most entrepreneurs today believe:

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All Entrepreneurs Share a Common DNA

Yes we all know that all entrepreneurs are hard workers, and can push an idea until they become successful. But is that enough to generalize a theory that all entrepreneurs share a common DNA? That is farfetched belief. This is a fallacy of generalization and is hurting more people in entrepreneurship. We are all unique and different in our own way so we should first learn about ourselves, our strengths and weaknesses and appreciate them before we see ourselves as other people. Be the best you can be but never say that because X did it, I can do it better than them or just as them.

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Put Customers First

A lot of businesses are built around customers’ preferences and choices but this is very wrong. Build a product around yourself. Be your first customer of the product you make then think of other people. If you were to buy your product as a customer on the store shelves, how would you feel? Would you feel like the value per dollar you spend on the product is worth it? Do you have an honest product? What will make you not buy the product? Can you buy the product at the price tag shown? Think about yourself before you think about other customers. If you endorse your product then people will endorse it too.

Entrepreneurship is the Gateway to Freedom

If you cannot work 9:00am-5:00pm then do not try to start your own business. You will be the portfolio manager, the sales guy, the janitor, accountant, manager, assembly man, quality controller etc. With all those hats won by just one person, you will need more than 24 hours in a day which sadly you cannot have. And remember, successful business comes from a successful family so put your family first. Starting your own business is a pain guaranteed and sometimes pleasure might show up later.

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Write a Killer Business Plan

If you have an idea, then start it. A business plan will come when you are looking for funding not now. A lot of people lay more emphasis on the business plan to appoint where they get bogged out by the whole business idea because the plan starts to become an uphill task after sometime. If you think of a viable and sustainable idea, go for it then perfect it on the way. I have personally been discouraged by a business idea I came up with after taking a whole month researching and writing a business.  Just do it, the rest will follow.

I would like to hear your opinion on these ideas, what you think, what has worked for you and what has not worked. If you would like to get more of my works, then consider getting this book Strategies of Entrepreneurial Business.