Entrepreneurship attracts youth nowadays. Even our governments encourage the youth taking entrepreneurship path on account of unemployment. Here we are talking about five myths about entrepreneurship. Have a look.
Myth 1: You need a lot of money. No, ideas and the mindset are what really matter. Necessary funds can be arranged from the open market. You can look out for various central and state government schemes like Mudra and many more.
Myth 2: Entrepreneurs are born to business families only. Yes, it is true that many successful entrepreneurs are born to business families. But, things are changing fast. Look around and you will find many successful businesses run by first-time entrepreneurs.
Myth 3: Only innovative ideas can lead to a successful business. Yes, many successful businesses are based on innovations, but, a business can be equally successful by doing the same thing differently like multiple eateries selling the same food under different formats and locations.
Myth 4: There is no work-life balance. Starting a business requires a lot of effort initially. Once it is up and running you become the master of your time.
Myth 5: Failure is shameful. There is no shame in failure. Many celebrate failure as a stepping stone to success. There is no need to attach any social stigma to it.