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work at a startup
When you announce your intentions to become an entrepreneur, you’ll hear a lot of advice, both sought and unsolicited. Be careful not to fall for three common myths about startup ownership and leadership.
Serial entrepreneurs never forget their first leap. While this experience can be exhilarating, it also comes with risks. That’s why many people wait until the last minute to quit their full-time jobs. Having a stable income for as long as possible can help build a financial safety net. But they also need another type of safety net: candid answers about what to expect.
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Unfortunately, it can be difficult to get real advice when you’re trying to start a company. Oh you will get a lot of tips and hints. The problem is that we are often fed half-truths and misinformation by well-intentioned family members, friends, and occasionally strangers. remain. And if you end up acting on myth instead of fact, your path to entrepreneurship can come to an abrupt end.
But don’t worry. Many people, myself included, are nothing but straight shooters. I’ll be happy to explain the good, the bad, and the ugly. I’m also thrilled to be able to debunk the most common misconceptions about being your own boss.Here are his three fallacies that should be cleared immediately.
Misconception 1: “You need to know all the answers before you start”
It is impossible to understand where and why this feeling arose. The smartest people in the world don’t have all the answers to all the questions. There is no omniscient oracle as in Greek legend.
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One of the greatest talents you can harness as a startup leader is ignorance. Serial entrepreneur Marcus Lemonis agrees. I’m saying that if you were more vulnerable and more human, you could do more work. ”
If you don’t know how to do something, it makes a lot of sense to find someone to do it. It could be a mentor, a colleague, or someone you’re friends with on LinkedIn. Seeking clarity and support shows that you are aware of your limitations. You can also learn from the experiences and perspectives of others. Never underestimate the power of being able to look at a problem (and possible solutions) from multiple angles.
Myth 2: “You don’t need passion. You just need to fill the market gap.”
The idea of leaving a reliable income for a role that doesn’t excite you makes little sense. However, many entrepreneurs decide to start a business just to meet their needs. Take Johanna Buchweitz, founder of Frankly Co., an online community for women entrepreneurs. Buchweitz admits she made a mistake starting a business she wasn’t really passionate about, and she doesn’t recommend anyone else follow suit.
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“My first company was a platform where content creators could easily create and monetize their content,” says Buchweitz. “The challenge I faced was like pushing a rock up a mountain. On the contrary, my current company combines my passion with a market gap. It makes problem-solving fun and can be seen as an exciting learning opportunity rather than a hindrance to company growth.”
Buchweitz’s experience was corroborated by a recent study conducted by researchers in the United States and Canada. This study found that passion influences people’s choices. If you are passionate about your goals, your intrinsic motivation will make you more proactive and pragmatic.
If you’re not 100% sure that the company you’re about to spawn will be great for you, it makes sense to pause. It’s okay to put the brakes on one business so you can pivot to another business that piques your interest.
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Myth 3: “If you love what you do, you’ll never work a day in your life.”
It may have been Mark Twain who coined this oft-mentioned statement. Or was it Marc Anthony? maybe someone else? Observers were slightly off base, regardless of who made this observation in the first place.
Love what you do, be passionate about your business, be completely ecstatic, and have stressful days where you want to throw in the towel. That’s because being an entrepreneur is hard work. Most founders make great sacrifices. They get up early in the morning. They forget their vacation. They stand in for employees who are sick, on leave, or quit. It’s not attractive.
Saira Hospitality founder Harsha L’Acqua (formerly Chanrai) hit the nail on the head when he deconstructed the true daily life of an entrepreneur. She advises: You are the driving force behind your own success, and you need to find the motivation to make it happen, which takes a lot of work. ”
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That doesn’t mean being a business owner isn’t fun. It can and should be. At the same time, it can be demanding. All your commitments, not to mention nagging worries related to your financial situation, can wear you down. And whether it’s putting away all your devices at dinner, find ways to carve out a little “me time”. prize.
Still, do you think startup life sounds perfect? You probably have the temperament and desires of a serial entrepreneur. The only way to earn that badge? Get out there and build your dream business. Don’t let the startup myths you hear along the way fool you.
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