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Myths About Entrepreneurship

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Myths About Entrepreneurship,Startup Stories,List of Successful Entrepreneurs,Most Common Entrepreneurship Myths,5 Myths of Entrepreneurship,Characteristics of Entrepreneurship,Motivation to Entrepreneurs,Entrepreneurship Ideas


With a long list of successful entrepreneurs from whom you can get inspiration, many people dream of starting their own business someday.  However, there are some myths and stereotypes which discourage people from taking the path of entrepreneurship. Let us look at some of these myths and analyse if there is any truth to them.

Myths about entrepreneurship

 

1) Entrepreneurs are born with the trait

The most common myth in the world of business is, in order to become a successful entrepreneur, one has to be born into a successful business family and carry the art of entrepreneurship in their genes.  This completely disregards the idea that one can learn the art of entrepreneurship and it takes a lot of hard work and determination to make your business successful. The only thing which should be in one’s genes to become a successful entrepreneur is motivation, passion and persistence.

 

2) Must invent something new

Another common myth everyone believes is one should have a new and unique invention or idea to start a successful business.  While one can always work on new inventions, it’s not a requirement to start a new business. Entrepreneurship is all about solving problems and providing an answer to a problem, which nobody knew was possible.

 

3) A good product means a successful business

It is not wise to solely rely on creating a good product to make your business successful.  A successful business also depends on how capable and good the entrepreneur is. Whether it is marketing the product, building business connections, managing people or budgeting, the success of a company depends on the entrepreneur’s hard work and motivation.

 

4) A lot of money is required to start a business

While it is impractical to think one can start a business with no money, it’s also not true that you need a huge amount of money to start your own business.  In fact, there are many companies which started their business with $ 1,000 or less and went on to become successful.

 

5) Age is a limit

There is a famous misconception—you have to be young and restless to become a successful entrepreneur.  However, there is a long list of successful people to prove this myth wrong. The founder of Kentucky Fried Chicken (KFC,) Harland David Sanders, started his now massively famous company at the age of 62, while Robert Noyce co founded Intel at the age of 41.  According to a Global Entrepreneurship Monitor report, more number of older adults are self employed, compared to younger people.  This definitely busts the myth of age being a limit to becoming an entrepreneur.

 

There are a lot of myths which surround the idea of entrepreneurship and scare away many ambitious and talented people from starting their own companies.  So, it is always important to debunk the myths and stereotypes in order to get a clear idea about how the world of business works.

 

If we missed mentioning any other myths about entrepreneurship, comment and let us know.

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Entrepreneur Stories

Travis Kalanick Unknown Facts

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Travis Kalanick Unknown Facts,Inspiring Facts about Travis Kalanick, Interesting Facts 2019, Most Interesting Facts, uber founder Facts,Real history of Travis Kalanick, Travis Kalanick Amazing Facts, Travis Kalanick Facts, Travis Kalanick Facts 2019,Travis Kalanick Interesting Facts,Travis Kalanick Latest News, Travis Kalanick Success Story,startup stories, Surprising Facts About Travis Kalanick

Travis Kalanick, the co founder of Uber, is famous for turning the startup into a billion dollar company.  Let us take a look at some unknown facts about Travis Kalanick.

Unknown facts about Travis Kalanick

1) Travis Kalanick was introduced to the entrepreneurial world from an early age, when he started selling knives door-to-door for a cutlery company called Cutco during his childhood.

2) Although he is widely known for starting companies like Uber, Scour and Red Swoosh, Kalanick started his first business at the age of 18.  Along with a friend, Kalanick started a SAT prep business called New Way Academy. 

3) Travis Kalanick was a very smart child.  He became interested in computers at an early age and learned how to code by the time he was in middle school.  Moreover, Kalanick scored 1580 out of 1600 in his SAT.

4) In 2001, Kalanick started a company called Red Swoosh.  In order to save money, Kalanick started living with his parents and eventually moved to Trivandrum, India and then to Thailand.

5) Travis Kalanick is a passionate Wii Sports Tennis player and plays the video game during his spare time.  According to investor Chris Sacca, Kalanick was ranked the second best player in Wii Sports Tennis in the world.

6) Travis Kalanick is known for his aggressive behaviour and once sent Instagram a cease and desist letter by posting it on the photo sharing social media platform, along with the caption, “Charming greeting card from a taxi cartel representative.” 

7) Despite his billionaire status, Travis Kalanick is famous for being a frugal person.  He is known to intentionally forget his wallet during team lunch and staying in cheap hotels while on vacation. 

8) Travis Kalanick’s house, which he purchased after selling Red Swoosh, is famously known as the Jam Pad.  This is because Kalanick’s house became the go to place for young entrepreneurs to hang out and discuss ideas.  Kalanick’s house also has its own Twitter account.

 

With a net worth of $ 5.28 billion, Travis Kalanick is one of the richest entrepreneurs in America.  Which of these unknown facts about Travis Kalanick surprised you the most? Comment below and let us know.

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Estée Lauder Life Lessons

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Estée Lauder Life Lessons,Startup Stories,Inspirational Life Lessons 2019,Estée Lauder Founder Life Lessons, Estée Lauder Story, Estée Lauder Inspirational Life Lessons, Estée Lauder Latest News, Estée Lauder Success Lessons,Estée Lauder Success Story

Estée Lauder was the founder of Estée Lauder Companies Inc., famous for its prestigious skincare, makeup and fragrance products.  Estée Lauder started her company with the belief there are no unattractive women, only women who don’t care. Lauder, through her products and belief, changed the face of the beauty industry.  Check out some incredible life lessons to learn from this beauty mogul to motivate you.

Life lessons to learn from Estée Lauder  

1) Age is just a number

Estée Lauder was a teenager when she started her own business of selling beauty creams made by her uncle, Dr. John Schotz.  She sold the creams to her classmates and eventually, at beauty salons.  Lauder used business tricks and started handing out free products in an effort to increase sales.  The important lesson to learn here is no matter what your age is, you can become successful with your ideas, determination and hard work.

2) Believe in yourself and your ideas

Estée Lauder truly believed the world would be a better place if everyone bought her products.  According to her, “A person has to love her harvest if she’s to expect others to love it.”  Lauder believed in herself and the ideas she had for her Company.  Although it was quite uncommon for women to start their business in the 1940s, Lauder stood her ground in the corporate world and focused on achieving her goals.  In the entrepreneurial world, it is very important to believe in oneself and one’s ideas, in order to achieve any kind of success.

3) Working hard is the key to success

Estée Lauder was not born to a rich family.  In fact, she started her business from her kitchen and with hard work, built her billion dollar company.  Lauder famously said she did not become successful by wishing and hoping, but by working hard. If you have some great ideas, work hard towards making them a reality, instead of waiting for a golden opportunity.

4) Rejection is a great motivator

After her product was rejected by the manager of Europe’s largest department store, Lauder spilled a bottle of her perfume on the floor in order to attract people to her product.  She was eventually offered a contract by the manager of the store, after people started showing interest in her product. Estée Lauder, instead of accepting defeat when faced with rejection, quickly found a way to achieve what she wanted.  In the process, she taught us to take rejection in a positive way. 

5) The power of creativity

Estée Lauder was a creative person and her creative marketing tactics were the reason her Company became so successful.  When her Company was small and did not have any money to hire an ad agency, Estée came up with the idea of giving away free samples with each purchase.  This technique proved to be a success and brought in thousands of new customers. She revolutionized the entire beauty industry with this technique, which has been adopted by many companies ever since.

 

Estée Lauder spent all her life working on her dream and in the process, became a role model to many.  If you think we missed out on any other life lessons by Estée Lauder, comment below and let us know.

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Thomas Alva Edison Most inspiring Quotes

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Thomas Alva Edison Most inspiring Quotes,10 Inspiring Quotes by Thomas Alva Edison,Top 10 Thomas Alva Edison Quotes,startup stories,Most Inspirational Quotes 2019,Thomas Alva Edison Latest News,Thomas Alva Edison Motivational Quotes,Thomas Alva Edison Quotes,Thomas Alva Edison Success Quotes

Often regarded as America’s greatest inventor, Thomas Alva Edison is an inspiration to many.  From the invention of the lightbulb, to developing the world’s first motion picture camera, Edison’s inventions had a strong impact on the modern industrialized world.  Here are the 10 most inspiring quotes by Thomas Alva Edison.

Most inspiring quotes by Thomas Alva Edison

1) About being a genius

 

2) About failure

 

3) About hard work

 

4) About giving up

 

5) About time

6) About invention

7) About opportunity

8) About executing ideas

9) About capability

10) About discontentment

 

Thomas Alva Edison was an inventor turned entrepreneur, with 512 patents under his name.  He was the first scientist to employ a group of researchers and to establish an industrial laboratory.  Edison’s work and success is the reason many people see him as an inspirational figure.

 

Comment below and let us know which of these quotes by Thomas Alva Edison inspired you the most.

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