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4 Ridiculous Myths That Keep You From Being an Entrepreneur

4 Ridiculous Myths That Keep You From Being an Entrepreneur

Have you ever thought about starting a company and being an entrepreneur, only to decide it was “too risky”, that you “didn’t have a good enough idea”, or that you “can’t succeed without being a programmer?”.

Those excuses are complete junk.

Let’s tackle 4 of the most common myths, right here, right now:

Myth #1:  You need a great idea to succeed in entrepreneurship.

Think the hardest part of starting a company is coming up with a great idea? Hell no! Coming up with an idea is the easiest part—I think of great, potentially profitable business ideas on a daily basis.

Ideas are the easiest part because something else is much more difficult, and far more important:

Can you actually execute your idea? Can you actually do something to bring the startup idea to life?

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Ideas are worth less than a role of single-ply toilet paper bought on sale at the dollar store. Ideas are all talk. What I want to know is: Can you, and have you actually done something about it?

Let’s look at what the experts have to say about this:

Derek Severs explains that ideas are just a multiplier of execution, with execution being far more valuable. Paul Graham, founder of the world-famous Y Combinator incubator tells potential applicants explicitly:

“I care more about the founders than the idea, because most of the startups we fund will change their idea significantly. If a group of founders seemed impressive enough, I’d fund them with no idea.”

Do you see the punchline here? Action is what matters. You need great people to act. Instead of focusing all of your time on coming up with an idea like “the next Facebook, only better,” focus on finding a great team, and figuring out how to actualize.

Myth #2: You have to quit your job & take on a lot of risk in order to be successful at startups and entrepreneurship.

Plenty of entrepreneur blog articles talk about “being ready to take the big leap into entrepreneurship” by quitting your day job to work full-time on your startup.

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Seriously, don’t worry about that crap.

Most people I know who have started companies did so while in school, or as a side project while working full-time: one friend started a nationally-recognized DJ company; the other started a TechStars-funded robot development company. None of these people were immediately met with this “quit your job NOW NOW NOW or lose your chance forever!” situation.

Clearly, if your efforts are successful, you’ll l get to the point where you’ll need to decide whether or not you want to quit your job and jump into working full-time on your startup. Until then, there’s plenty of work that you can do part-time.

It comes down to having a plan: plan to work on your startup as a part-time endeavor until it makes sense to make the leap.

Myth #3:  You need to be a programmer to create a startup, or you’re not worth a hell of a lot.

“Since I can’t program, I guess that means no startup for me.”

No, no, no. This one is the biggest lie of them all. Every time I hear this, I want to Frisbee-throw my laptop out the window and into the parked car down the street. I can’t count the number of friends who told me they were learning programming so they could create a startup. Come on, guys.

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Technical people may want you to believe that the value’s in the programming, but think about where the risk lies: what are the odds of being able to program your idea? Basically 100%. What are the odds of being able to find customers? A hell of a lot less.

If you’re the business guy, your job is actually harder than the programmer’s is.

Programming is about 2% of the pie. How about finding customers? How about making sure they even like what you’re making? Management? Raising money? Product concept development? Instead of crying that you can’t program, ask this instead: “do I bring something of value to the table?” For example, are you an expert in your domain? Are you a proven sales / marketing / business development person? If you have that value, you’re on the right track.

The founders of Foursquare, Box.com, and Pandora, for example, were not technical people. Go find some people to help you program (or perhaps be willing to join their venture), and don’t sell out and go “learn to code.”

As a side note, I’m not saying you shouldn’t know about programming or you should never learn it—I’m just saying that you should focus on building and displaying your own value, rather than just pretending to be good at something you’re not.

Myth #4:  90% of businesses will fail within X years, so that means the odds are bad for your startup too.

Businesses fail for a reason, not for a statistic.

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You know that feeling you sometimes get when you walk into a new restaurant?  The “I don’t think this place is going to be around much longer…” feeling, and it fails 2 months later? Do you think that’s an accident? Alternatively, is it because you intuitively sense that there’s something missing?

Along these lines, read this great article about one person’s failure of starting a coffee shop in NYC that proves my point perfectly. Note how they followed their romantic vision of a “cute, quaint” coffee shop without caring about learning how to successfully execute a coffee shop business: it wasn’t by chance that they failed.

You’ll make mistakes, and failure will be a part of the equation. It was for me. But where I was different, was that I was smart enough to know how clueless I was, so I took smart risks, learned, and improved from there.

Rather than worrying about failure, read startup literature, learn, and though that, minimize your chances of failure and bolster your case for success.

So, Stop Making Excuses, and Start Executing!

Featured photo credit:  Businessman sitting at desk via Shutterstock

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Last Updated on June 19, 2019

8 Life-Changing Skills You Can Learn in Less Than 6 Months

8 Life-Changing Skills You Can Learn in Less Than 6 Months

Everyone has the ability to learn a life-changing skill not just this year, but in the next 6 months.

By life-changing, I mean something that can have a positive impact in your life moving forward, even if it’s something you can’t envision today. Certain skills we can immediately reap the benefits of, while others will be life-changing when we least expect it.

In this article, we’ll share 8 life-changing skills you can learn in 6 months, where you can learn them, and how you can get started today.

1. Speed reading

Bill Gates has been known to state that if he had one superpower, it would be the ability to read faster. What Bill and the rest of the mega-successful understand is that knowledge is power. The ability to process information faster from books, articles, and reports is what will help us learn faster, and therefore improve each aspect of our life faster as well.

Where you can start learning: Speed reading courses are becoming more popular, as more people realize how important it is with the limited time we have. You can check out free courses like Read Speeder or you can start learning how to use Spritzlet, which allows you to speed read articles online with a browser extension.

2. Public speaking

Research shows that people fear public speaking more than death itself. There’s something terrifying about being in front of dozens or hundreds of people, and exposing yourself completely. It’s when you’re most vulnerable, but learning how to public speak is a life-changer.

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Warren Buffett has given advice to recent graduates that the number one skill you can have to succeed is public speaking skills. Everything from communication, confidence, and sales is developed when you develop your public speaking skills.

Where you can start learning: Luckily, there are great communities out there like Toastmasters that organize local meetups all around the world. You’ll find amazing public speakers that are looking to get to the next level to beginners that are just getting started. Check out Toastmasters’ website here.

3. Spanish

As the third most spoken language in the world, the ability to speak Spanish will allow you to reach over 500M people around the world. No matter where you live, knowing how to speak Spanish is becoming increasingly more important, with the Hispanic population and economy spreading quickly worldwide. If you’re living in the US, this is even more important, with over 30% of the population being Hispanic.

Spanish is also on this list, because it’s one of the easiest languages to learn. Sure, Mandarin is an important language to learn, but it’s an incredibly difficult one to learn. If we were to measure the level of importance and the time to learn for all the languages available, Spanish would make it to the top of the list.

One of the biggest reasons why people never reach fluency in any foreign language is: using the wrong method, and lack of time.

It turns out that humans retain only 5% of what we learn from lectures, 20% of what we learn from apps (visual cues), and 90% of what we learn from immediate immersion. Yet, how do 90% of learn a new foreign language? Language schools (lectures), books, Duolingo (apps), etc that don’t provide the real-life immersion required for our brains to learn faster.

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Where to get started: If you want the most effective way to learn a language, learning from real-life interactions is the best way to do it. There are great websites like Rype, which offers Spanish coaching for busy people, solving the issue of lack of time and bringing real-life immersion to your screen. With Rype, you can book as many lessons as you want, at any time of the day, any day of the week, allowing you to fit it into your schedule, no matter how busy you are.

4. Accounting

If you’re looking to get into business, accounting is one of the core fundamentals you’ll need to succeed. While you don’t need to be an expert, you definitely should understand the basics.

This skill can also be used to manage your personal finances, to meet your financial goals, and having more control over your life.

Where to get started learning: If you didn’t learn accounting in school, no worries. You can either teach yourself using books, or check out free accounting courses online.

5. Microsoft Excel

Most people reading this probably have a basic understanding of Microsoft Excel Spreadsheet. While this is a good start, there are so many powerful functionalities that are hidden, which could make your life a lot easier.

Excel is also a great asset to have whenever you’re looking for a job, as many corporations rely on Excel to organize and manage multiple parts of the business.

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Where to get started learning: With the popularity of Excel, you can find tons of free resources and videos online to learn. Check out Excel Exposure, Lynda, and Excel with Business.

6. Blogging/Vlogging

Blogging is a powerful tool if you want to spread your ideas, build your brand, or grow your business. Since it was introduced, blogging has taken on a life of its own, and today there are ~2M blog posts being written on a daily basis.

Where to get started learning: Anyone can start blogging today. All you need is a content-management system like WordPress, which is completely free. Personally, I think the best way to start learning how to blog is to just start writing. There are techniques you can learn on how to promote your blog, but the best way to grow your blog is to write great content.

7. Weight training

Yes, weight training is a skill. It’s not as advanced as learning how to code, nor will it take as long as learning a new language, if you just want to learn the basics.

We’re not promising that you’ll get a body like Arnold Schwarzenegger, but you will see much faster results for whatever goal you have, just by understanding how to workout properly. And of course, when you’re dealing with an activity that involves physical strain, you’ll always want to caution yourself.

Where to get started learning: There are amazing body builders that are sharing all of their secrets for free on Youtube. You can check out Bodybuilding.com’s Youtube channel to get started.

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8. Photo and video editing

In the digital world that we live in, from Youtube, Instagram, and Facebook, there is no avoiding photos and videos. In fact, social media has increasingly gone away from text sharing and almost everything to photo and video editing.

Where to get started learning: For photo editing, you can use Photoshop. For video editing, you can use iMovie or Final Cut Pro. Keep in mind, there are dozens of editing software tools for video and photo editing, but what’s more important are your editing skills, not the tool itself.

Check out education websites like CreativeLIVE or Skillshare, where you can learn from experts themselves on how to best use design and software tools.

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