This is an interesting summary on the types of misconceptions people have about entrepreneurship. I think the most interesting is under the heading, “Time is your own.” We often think that business owners have time to do as they please, however, that is often not the case. Growing up in a family of entrepreneurs, my family was always on call – this article sums that up nicely.
That’s a hard no. Time is always limited, so no one can say they own their calendar, including CEOs of huge companies like Elon Musk and Mark Zuckerberg. A carefree attitude about time management is over once you’ve entered the entrepreneurial realm.
Great article. I liked the article’s point under “Cash is King” about the misconception that cash flow is the most important aspect of an enterprise. In reality, however, the “customer is king” and new ventures should focus on customer-driven enterprises rather than making money. While the customer is not always right, emphasizing customer relations is important to gain and retain users/customers.
I definitely agree with Michael’s comment in that there should be a change to the perception of a more customer-driven view rather than be focus just on making revenue. If people use a more human-centered design and understand the customer, then there would be specialized strategies to improve problems and overcome obstacles. Understanding the customers and market is essential for success in all relationships and business.