Myths of Entrepreneurship

Myths of Entrepreneurship

They are many myths surrounding entrepreneurship and i am about to talk about ten of them below:

Myth 1:       Entrepreneurs Are Doers, Not Thinkers

This myth is a myth that tries to say that thinking which in my view is the backbone of most entrepreneurs is not an attribute and I falsify that. Thinking is a big role in entrepreneurship especially in business planning of a corporation, a lot of things should be taken into account in business and analysed for proper results.

Myth 2:       Entrepreneurs Are Born, Not Made

The term "Self-Made" shows how this myth is false and how entrepreneurship is a mindset and can be learnt by most if they have what it takes to back up the mind set.

Myth 3:       Entrepreneurs Are Always Inventors

I think this is also a false myth due to the fact that not all entrepreneurs invented what they are selling, taking an idea and making it better is also an example of getting a product without inventing anything.

Myth 4:       Entrepreneurs Are Academic and Social Misfits

Entrepreneurs do not have to be misfits as anyone can be an entrepreneur. Hard-Working individuals that are socially accepted can be entrepreneurs, in my view being socially accepted helps entrepreneurs with stress , as they help him/her relieve the stress

Myth 5:       Entrepreneurs Must Fit the “Profile”

There is no "PROFILE" to fit exactly, of course passion and hard work are good things to have, it is not compulsory to be of such. A person can even hire a person to handle everything he/she is supposed to be doing and that person is an entrepreneur.

Myth 6:       All Entrepreneurs Need Is Money

Money is required but not only money is required as it can only take one so far, other facts are put to play in entrepreneurship like perseverance and passion etc.

Myth 7:       All Entrepreneurs Need Is Luck

Luck is not even always needed, people have made it without luck per say and that does not make them less of entrepreneurs than those who were lucky. So all I am saying is that luck isn't really needed in entrepreneurship.

Myth 8:       Ignorance Is Bliss For Entrepreneurs

This is very false, as entrepreneurs need to know about most change that occurs as that could help reveal a business idea. Anything can be a business, attention is needed or it could pass an entrepreneur by.

Myth 9:       Entrepreneurs Seek Success But Experience
      High Failure Rates

I would have to say that this is false; I had thought it true before i was enlightened by ENT-101. Everyone will experience failure and that is what is misleading a lot of people, perseverance should be exercised.

Myth 10:     Entrepreneurs Are Extreme Risk Takers (Gamblers)

      Entrepreneurs are not gamblers as they calculate before acting and go for the best offer through their calculations; they do not just jump in deals without considering options and facts.

Social Entrepreneurship

Social Entrepreneurship

Social Entrepreneurship is a process that begins with a social opportunity and is translated into an enterprise.
Social Entrepreneur is a person or a group of people who creates an organisation or initiative engaged in social entrepreneurship. A social entrepreneur can also be called Civic Entrepreneurs or Public Entrepreneurs. An example of a social entrepreneur would be:

James Trevor “Jamie” Oliver

England

Jamie founded “Fifteen” in 2002, an organisation that would take fifteen people with disadvantaged backgrounds or crime records and train them in the arts of cooking. These fifteen people would then be hired into the enterprise

He is a social entrepreneur as he takes disadvantaged people who would find it very difficult to get employed and train and employ them.