3 misconceptions about entrepreneurship

1. A good student makes a good entrepreneur

I have a mug I use most mornings for my green tea that has a collage of dropout billionaires on it. I made it myself. It’s a reminder that good grades have nothing to do with being a great entrepreneur. Ask most entrepreneurs in private and they will tell you that school was a hindrance.

2. If I build it they will come

Building a product is one thing. Selling a product is another. You can’t just think people will come to you because you have a great product or service. To get a business off the ground you have to get it out there to enough people. We weren’t taught how to sell in school. It takes courage to get out there and meet new people, to face rejection and criticism.

3. The customers don’t know what they want

There’s a destructive quote out there in the business world that if misinterpreted sounds like you shouldn’t listen to your customers. It’s from Henry Ford when he was asked how he came up with the model T he said “If I would have asked my customers what they wanted, they would have said more horses.” Sounds clever but nothing could be further from the truth when it comes to building your product or service. You want as much feedback as you can get.

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