Six False Ideas About Becoming an Entrepreneur

Written by KaitlynCook Published in

When it comes to being an entrepreneur, all of us know that it’s all about work, drive and ambition. But there are a lot of rumors out there that display a false sense of what it’s like to own your own business.

I had a friend come up to me and say, “Wow, Kaitlyn, you’re so lucky. Your business is going well, you’re flourishing and you have great clients!” I looked back at him in shock, but just thanked him. I was thinking, “If he thinks all of this was built by luck, he’s GREATLY mistaken!” I couldn’t believe that someone would think that luck had anything to do with owning your own business.

That comment made me think about other rumors or false thoughts about being an entrepreneur. Are there any other false ideas about being an entrepreneur? Yes. There are a lot. Let’s start with a short list letting anyone thinking about becoming an entrepreneur know these are in fact false and to jump in feet first.

Luck is the majority of the cause of becoming successful.

As mentioned above, luck has very little to do with it. In my situation, I built my business while working full-time at my previous job. I woke up at 5 AM worked until 6:30 AM, then hit the shower and got ready for another full day at my ‘real’ job from 8:00-5:30. I’d then go home, eat dinner and work on my business until 11 PM. If you call that luck, then I will have to agree to disagree.

You can’t be an entrepreneur while working a full-time job.

This is completely false. If you read above, this is 100% how I started my business. I built it up over six months and then had a goal and reached it. I also strove to save up a lot of money so in a case where I lose every single client, I would be financially okay for a couple of months.

You have to have a lot of money to start a company.

Nope. This one’s not true either. The money does have a lot to do with it, but if you start your company while still doing something full-time, you’ll be on your way to saving and making sure your concept works.

You have to be the best.

This is completely false. There are always going to be people who are better and faster than you are. However, if there’s one thing that you can do to stand out from them, do it. You can also use this time of start-up phase to charge less money than the competitors, to get some work samples under your belt and to gain more business.

The little things don’t matter.

False. I enjoy going to local universities and colleges to teach and mentor about how to dress, act and what to do for an interview. During these talks, I speak about the hand written thank you note. Read closely here, no one does this! This is a HUGE, BIG, LARGE add-on that everyone remembers. Don’t type it, write it. I send a thank you letter to all of my new clients. It’s a little something more than just sending an email or thanking them in person

You need to have a master’s degree to start your own business.

I can name a lot of people who started businesses who don’t have a master’s degree or even a full college education. Now, this isn’t saying that education is going down the drain, because it’s not. I’m a big advocate of people going back to college or deciding to go to college in general.

All of these points above are to prove to you that you don’t need to be a superhero to start your own business. There will be a lot of hard work and grit that goes into it, but it will be worth it in the end. Make the connections, make the introductions and keep your nose to the grindstone and you’ll succeed!

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Kaitlyn Cook is the Owner & Chief Marketer at South Street & Co. She describes marketing as 'the colorful side of business.' She is a marketer with an eye for innovation, has an outgoing spirit and an ongoing passion for life and she is a proud UCF alum. 

 
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