The Myths of Entrepreneurship – Don't Believe Everything

The Myths of Entrepreneurship – Don't Believe Everything

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Are entrepreneurs born or made—this seems to be among the great contemporary debates. Many believe that those who rise in the ranks of small business owners possess certain characteristics unique to having an entrepreneurial spirit. In this article, we debunk a few of those myths…

  • Entrepreneurs are always risk-takers. While yes, starting and running your own small business does require some element of risk-taking, not all successful entrepreneurs are big risk-takers. Many understand that certain risks are simply too high to take. Generally speaking, entrepreneurs are results-driven and that is what guides most of their decisions.

  • Entrepreneurs don't have a personal life of which to speak. A lot of people believe that a business owner's focus is 100% the company—especially in the early stages. And yes, long hours may be required, but that doesn't mean that most entrepreneurs ignore their families and/or their personal lives. It simply takes a bit more balancing.

  • Entrepreneurs are all tech-savvy. Some of the most successful entrepreneurs are not all that technologically inclined. While there are a few standouts in the tech sector, this is just a small percentage of some of the most profitable startups in the last few years.

  • Entrepreneurs are in it for the money. Making money is certainly nice, but most know that starting a new business can be a very slow route to getting rich. Many newer companies can take 3-5 years to turn a real profit. So money is usually not the driving factor as to why people start companies.

First Union would love to help you when it comes to growing and expanding your business. Our loan programs range from 5k to 1 million which means we have the resources to get you the cash you need quickly. Call today!

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