Entrepreneurship is a dream for millions of people around the world. Entrepreneurs are commonly seen as innovators, a source of new ideas, goods, services and business. They play a key role in the economy of a country. Entrepreneurs commonly face many obstacles when building their companies. Those that are new to entrepreneurship may have misconceptions on what it is all about. There are certain myths and misconceptions about entrepreneurship that one should know :

Entrepreneurship directly leads to Financial Success

This is the biggest myth regarding entrepreneurship so far. In fact, most of those who rush to become entrepreneurs, fail. Research says that 90% of the entrepreneurs fail in less than 24 months after starting out. And surely, this does not sound like a direct ticket to monetary success.

Entrepreneurs Are Born Not Made

Experts generally agree that entrepreneurs were not born, they learned to become entrepreneurs.

The recent proliferation of college and university courses on the subject support this point. Entrepreneurship is currently being successfully taught in various colleges. Despite starting at a young age, most “successful” entrepreneurs take some time to familiarize with the world of business. More than 50% of entrepreneurs have to go through a transition process so that they can gain some experience before launching their ventures.

Entrepreneurs are often High-Tech Wizards

We know many high-tech entrepreneurial wizards who made it. But it’s not an essential criteria to be a successful entrepreneur. But off course it’s an important trait to be one and what was considered high tech just a few years ago is not considered high tech by today’s standards.