Fallacy #1: Entrepreneurs are born, not made
I admit that I know two guys whom I would swear were born with a risk-taking, want-to-be-a-millionaire, nothing-is-going-to-stop-me spirit. But most of the business owners I know entered entrepreneurial-land through the back door.
Some realized that they knew more than everyone else in their industry but weren't making nearly as much money. Some got tired of making money for other people, or answering to others, or having to follow rules and regulations that made no sense to them. Some discovered something they loved to do so much that their only choice was to be happy and start a business or not do what love. Many simply wanted to finally have financial freedom and security, and to have total control over their financial future.
Fallacy #2: You have to spend money to make money
Sometimes that's true. Sometimes it's not. It simply depends. With many businesses the faster you want to make money the more you have to pay upfront, but if you can move more slowly and deliberately it will cost less. Brick-and-mortar businesses have a different set of rules, but it can also be easier to get financial backing for tangible services.
Fallacy #3: If it was really worth having, it would be worth the risk
In my book, the things that matter the most in my life I won't risk for anyone or anything. I consider some things to be sacred and non-negotiable. Period. But that also motivates me to be that much more successful. The things that matter most make it worth risking everything else.
Fallacy #4: Entrepreneurs fail more than they succeed
Okay, to be fair I think this is often true, but not because it is a universal truth. Once you catch the entrepreneurial bug there is a huger and drive for success that is almost...