Originally posted on LinkedIn
What people think entrepreneurship is vs what it ACTUALLY is.
You need a lot of money ➡️ The VAST MAJORITY of businesses are bootstrapped.
Entrepreneurs are born ➡️ In most cases, they’re made. Successful entrepreneurs get there by gaining experience in the field, not through some genetic factor (though certain personality traits do help).
You’re your own boss ➡️ You now have 100 bosses (clients, investors, suppliers), and you answer to ALL of them.
You need a revolutionary idea ➡️ ZERO. Execution beats innovative ideas 99 out of 100 times.
Build it and the customers will come ➡️ The most important thing at the start is GETTING OUT THERE AND SELLING. Doesn’t matter how great your product is — if you don’t sell it, nobody buys it.
It has to be in tech ➡️ Tech startups make a lot of noise, but on average they’re the ones that prosper least and have the worst financial outcomes. We NEED more entrepreneurs in traditional industries.
What else do you think people misunderstand about building a business?