Five myths about entrepreneurs

Want to start a business but question whether you have what it takes to be an entrepreneur?

According to a recent article in The Economist, there are five common myths that are prevalent about entrepreneurs. The misconceptions include the beliefs that entrepreneurs:

  • Are anti-social geeks who isolate themselves from others and the community. Entrepreneurs may be independent, but they need social networks and business contacts to succeed. Mentoring from seasoned entrepreneurs and information on business planning and marketing can make the difference whether a new venture succeeds.

  • Are all young people barely out of college, or in some cases, high school. Not all successful entrepreneurs are kids when they start their businesses. Think Harland Sanders who started franchising Kentucky Fried Chicken at age 65, or Herb Kelleher who was 40 when he founded Southwest Airlines. Many successful start-ups are the products of serial entrepreneurs, those who have started multiple companies. They have learned by their successes and failures and love the challenge of a new business.