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5 Misconceptions about Entrepreneurship

The idea of a traditional 9 to 5 is seemingly losing its appeal as more people are yearning for freedom to do what they want when they want, and this pursuit of happiness is leading many people along the path of entrepreneurship. Here are top 5 Misconceptions about Entrepreneurship.

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5 Misconceptions about Entrepreneurship

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  1. 5 Misconceptions about Entrepreneurship

  2. ● Entrepreneurship Entrepreneurship is the ability and readiness to develop, organize and run a business enterprise, along with any of its uncertainties in order to make a profit. The entrepreneurial vision is defined by discovery and risk-taking and is an indispensable part of a nation’s capacity to succeed in an ever-changing and more competitive global marketplace.

  3. ● Meaning of Entrepreneur The entrepreneur is defined as someone who has the ability and desire to establish, administer and succeed in a startup venture along with risk entitled to it, to make profits. In a nutshell, anyone who has the will and determination to start a new company and deals with all the risks that go with it can become an Entrepreneur.

  4. ● Entrepreneurs are born that way! In 2019, around 50,000 startups were registered across India. Moreover, daily 2 to 3 new startups take place in our country.

  5. Which will directly hit the country’s economic growth? As every human has a double face, this concept also has two aspects, and another one is negative. But, wait for a minute here I am referring to some of the misconceptions about Entrepreneurship.

  6. Some of the boarding schools like boarding schools in Dehradun teach entrepreneurship as a subject because the most effective and efficient way to expand a beginner’s mind is by surrounding it with the right tools.

  7. Misconceptions about Entrepreneurship

  8. ● Should be a college student! This myth depicts that many people think that only those students can become entrepreneurs who belong to a top tier college like IITs or IIMs. No, not this is damn false.Many uneducated people have their well-established startups. The best example is Mumbai’s dabbawala. They were uneducated and started on a very small level, but now they are touching the skies with their unique selling point of delivering Dabbas at offices in Mumbai.

  9. ● Heavy funds required: No, this isn’t true at all as a startup can be easily started by a small number of funds too. Moreover, now there are so many schemes under the Indian government to promote new startups. One of them is SIP-EIT. Support for international patent schemes. The Indian government has initiated 1.3 billion funds for new startups. But, This myth becomes one of the major drawbacks for those who want to start any startup and have that charm and those special skills.

  10. ● Only the Entrepreneur is Accountable for everything. An idea can only be converted into a startup only when we have a team of some most Talented employees who give their best to the company. One more thing, only an Entrepreneur is not responsible for everything; everyone is equally accountable for their respective tasks. ● A unique idea is the only need: Many people have a bitter thought that only a unique idea is more than sufficient to be an entrepreneur because they are self-confident.The answer is No, Not exactly. An idea is first to be get patented by desired authority

  11. ● Rapid and early earning A major myth about Entrepreneurship is that they started earning very fastly or at an initial stage. No, this isn’t true. It depends upon your working efforts and external conditions related to the Economy and the Trends. Am I right? As each and everything plays a vital role to uplift or grow any startup. Paytm A financial technology startup started in 2010 has been awarded as the fastest growing startup in India.

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