1 the myths of entrepreneurship
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The Myths of ENTREPRENEUR
SHIP
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MYTH #1
Most entrepreneurs
take wild, uncalculated risks in starting their
business
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MYTH #2
Most successful entrepreneurs have a well-considered business plan and have researched & developed their
ideas before taking into action
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Most successful entrepreneurs start
their companies with a breakthrough
invention.
MYTH #3
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Most entrepreneurs
have strong track records and years of experience in their industries prior to starting their business
MYTH #4
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Most successful entrepreneurs
start their business with
millions in venture capital to develop their
idea, buy supplies, and
hire employees
MYTH #5
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Entrepreneurs do not report
to anyone; they are their own bosses and they can do
whatever they want
MYTH #6
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Entrepreneurs have more free time –
more time for family & children,
more time for sleep, more time
for extended vacations
MYTH #7
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Most start-up entrepreneurs think, “If I can
manage someone else’s business, I can manage my
own!”
MYTH #8
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Entrepreneurs make more
money working for themselves; they have more
financial security and are
more well-off than employees
MYTH #9
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Most entrepreneurs think, “Doing what you love is the key to
success!”
MYTH #10
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As future entrepreneurs, it is up to you whether or not these myths
will remain as myths. Understanding how businesses
start and grow can be misdirected due to confusion about the true
nature of entrepreneurial growth companies.
THE CHALLENGE
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THE JOLLIBEE SUCCESS STORY
Relate the article to the discussion on the ten myths of
entrepreneurship.