ENTREPRENEURSHIP MYTHS

(BELIEFS INHERITED FROM GENERATIONS)

 Myth 1

Are Entrepreneurs “dumb” ?

Do they avoid thinking process?

 Myth 2

Characteristics of Entrepreneurship cannot be

ingrained through training, teaching and
institutionalized learning.

The Entrepreneurship traits are innate and born with;

like
aggressiveness,
initiative,
drive,
willingness to take risk,
analytical ability
skill for human relations
 Myth 3

Are Entrepreneurs inventors?

History tells that inventors find it natural

to assume Entrepreneurial role in
promoting their inventions
Myth 4

Academic “Misfits” or Job quitters turn

to self-employed business, and, earn
world-wide recognition as successful
Entrepreneurs in later years.
 Myth 5

In order to be an entrepreneur, the intending

person should meet out the requirements
according to a check list developed from studying
the lives of world-renowned Entrepreneurs
 Myth 6
All Entrepreneurs need is Money

Availability of finance is a pre-requisite to be successful

entrepreneurs
 Myth 7

Too much knowledge, planning and

thinking leads to paralysis.
Entrepreneurs survive because they
are gifted to be free of complexities
and confusions which is caused by
excessive level of information and
knowledge.
 Myth 8

It is 99th failure before Entrepreneur meets

first success
 Myth 9

You have to have be high risk-seeking

traits in order to be an entrepreneur.
 Answer - Myth 1

NO !
Today’s Entrepreneurs are very methodical
people who plan their moves very carefully

In fact, they create complete “business plan”

before getting into action.
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