Entrepreneurship Myth #4: High risk.

I define risk as “not knowing what you are doing”. There is risk in everything. There is risk in eating fish balls, there is risk in driving a car.

We cannot eliminate all risk, but we can minimize risk, by educating ourselves and so we know what to do and how to do.

You would have lower risk of getting choked by a fish ball than a 6 month old baby, because you know how to chew and swallow. The best way to reduce your risk, and increase chances of success, is follow the blueprint (footsteps) of people who have achieved what you want. They have taken high risk to ‘draw’ out the blueprint, and what you have to do is to obtain the blueprint and use it. Of course, success secrets won’t be shared everywhere, and you have to ask for them yourself. But i can tell you that there are some really friendly and generous mentors who will give you some secrets of their success.

Entrepreneurship Myth #5: I need huge amount of money to start a business.

This is not wrong. Huge amount of money is needed to start a business using the traditional brick and mortar method. Rent and renovation costs are going to be in the tens of thousands, not mentioning the supplies and goods that you have to store in your own warehouse, and employees’ salary too(if you are hiring). These are costs that you have to pay, regardless if you made a sale or not. So, this is true that you need huge amount of money to start.

However, it can be a myth too. Times have changed and we are into the Internet age now. There are new options for you to become an entrepreneur, without using the traditional brick and mortar method. You can be an internet entrepreneur, and I have personally knew internet entrepreneurs who have made five or six figure incomes, from their home. It’s a business that can be built without costly rents, without storage of goods, and maybe without employees too. Network marketing also allows you to build a business without huge investment costs too. Hence, with this, i can say that it is not necessary to invest huge amount of money to start a business.

Entrepreneurship Myth #6: I’m not a born Entrepreneur.

Neither is Bill Gates (Founder of Microsoft), neither is Robert Kiyosaki (author of RichDad, PoorDad) and neither am I born entrepreneurs. Many people think that people who have successful businesses, must be due to their parents being successful entrepreneurs, and entrepreneurship success runs in the blood. However, I can say that this is absolutely a myth, as millionaire entrepreneur Robert Kiyosaki’s real dad is a Professor (that’s why he called him Poor Dad…)

No one is born an entrepreneur. The reason why some people can succeed their parents’ business so well, or become successful entrepreneurs, is because they learn entrepreneurship skills like selling, marketing, leadership, management and communication since young. They also mix with people who are entrepreneur-minded (like their successful parents), or people who have built multiple successful businesses.

Hence, instead of thinking why you are not a born entrepreneur, think how you can be an entrepreneur today, by learning the necessary skills required, and network with other entrepreneurs to learn more about them. Remember, your Net-Work is your Net-Worth.

Entrepreneurship Myth #7: You can be an Entrepreneur only when you are rich.

Alright, we may have touch on this point above on Myth # 5. Back in Myth #5, we mentioned that become an entrepreneur does not require high investment with the advanced technology today, and you can build an Internet marketing or Network marketing business, instead of a high-investment brick and mortar business. Hence, you don’t have to spend tens of thousands of dollars to be an entrepreneur. You can start an Internet and Network Marketing business with less than $200.

Many people say that they will start a business when they are rich. But most will never start a business in their entire lives, because they will never find the money to do so. If you want to start a business, i would recommend an Internet or Network marketing business, because it is one business you can start part-time, and don’t require huge investment. Then, set aside a certain amount of money for your business investment, either in training materials, or business expenses to run your Internet or Network marketing business part-time.

There you go! 7 Entrepreneurship myths debunked! I hope that you have taken great value from this post, and start your entrepreneurship journey today (if you haven’t).