Do You Believe These 4 Entrepreneurship Myths?

Entrepreneurship is about invention, not convention. So here are four common fallacies every would-be entrepreneur should be aware of.

Entrepreneurs are non-conventional. Many give up the “security” of being a part of something else in order to forge their own path.

Because of this deviation, there exists a significant amount of stigma and fallacies around what it takes to become a successful entrepreneur. And since entrepreneurship is about invention, not convention, here are four common fallacies every would-be entrepreneur should be aware of.


1. You must “pay your dues” first.

I won’t deny that corporations function with a hierarchy that defines the scope and requirements for any given position. But as an entrepreneur, that’s not where you are. You are creating something that is unique to you. Unique to your vision, story, and tribe. You do things on your own terms.

You don’t have to start at the bottom or at some entry-level role where you “pay your dues”, put your time in, or somehow prove yourself. The only place you should be putting your time in is with yourself. The only person you should be paying dues to is yourself. Because when you invest in yourself, you provide a greater opportunity for others.

There is no elusive requirement you must meet to become an entrepreneur. You can launch your business ideas into the stratosphere right now.


2. You have to be rich, lucky or special.

As a child, growing up in a blue-collar household, I believed that a successful life was reserved for those who were somehow special — lucky or already rich. But as I began to feel the pull towards entrepreneurship, I realized how far from the truth that belief really was.

There are certainly people who are advantaged, but there is no one that is more special or lucky than you. Success comes to those who define what they desire and conjure up the mojo they need to make it happen.

In a YFS Magazine article entitled, 5 Habits of Super Successful Entrepreneurs, writer Mariah Courtney notes that entrepreneurs are not afraid of challenges, “they do the work.”

To be a super successful entrepreneur, you must become a valiant hero. A hero that has the courage to face challenges and the bravery to withstand them. It takes courage and valiance to get what you want in life. Not luck, money, or special circumstances.


3. You must wait for the “perfect” moment.

For quite some time, I expected some sort of “in your face” epiphany that would grant me the key to unlocking everything I needed. Then, I would finally be able to start making things happen.

The time I spent waiting, dreaming, hoping, and wishing for some indicator to move forward was time that I should have spent innovating, growing, and climbing.

If you have a desire for something or some audacious idea that could help other people, don’t wait to share it with the world. Someone needs that thing you have. You will need to learn how to take action.

And perfection? It’s not coming. Neither is some huge epiphany, because you already have what you need to make a huge impact.


4. You will cap out eventually.

Before starting my business, I was employed in the healthcare industry. Although the pay and benefits were considered lucrative, there would eventually come a time when I could no longer advance in pay, benefits, or responsibility — even if I moved outside of my role or title.

As an entrepreneur, there are no boundaries or glass ceilings. You will never reach a salary or profit cap. There will always be an opportunity for you to educate, share, profit, grow, and prosper — all on your own terms.

If you convince yourself that there is a limit to entrepreneurship, then you need to stop self-sabotaging your business.

You will have plenty of “I made it” moments, but ideally it just keeps getting better. You keep climbing. You keep moving. You keep doing things that scare you. Because at the end of each of these experiences, you’ll have something more. You will be something more.

Connect with Tim on Twitter.


Tim Frie is an idea incubator and launch genius for people who want to launch their big, audacious, and heroic life and business. He is hell-bent on eliminating ‘zombieness’ from the planet and turning people into the heroes of their lives. You can find him at TimFrie.com, where he writes about how to come alive and take action in life and in entrepreneurship.


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