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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 January 13, 2020

Is It Time for a Career Change? (And How to Make the Change)

Is It Time for a Career Change? (And How to Make the Change)

Are you challenged at work? Do you regret career decisions? Are you happy? If the answer to the questions leads to a negative feeling, it is time to determine next steps.

Many people settle for a career that no longer brings satisfaction. Most will respond by stating, “I am surviving” if a colleague asks them “How’s work?”

Settling for a job to pay bills and maintain a lifestyle is stagnation. You can re-direct the journey of a career with confidence by taking control of future decisions. After all, you deserve to be live a happy life that will offer a work-life balance.

Let’s look at the reasons why you need a career change and how to choose a career for a more fulfilling life.

How to Know if You Need a Career Change?

The challenges of dissatisfaction in a career can have a negative impact on our mental health. As a result, our mental health can lead to the obvious appearance of stress, aging, weight gain and internal health issues.

You deserve a career that will fulfill the inner desire of true happiness. Here are common factors that it is time for you to change your career.

Physical Signs

Are you aging since you started your job? Do you have anxiety? What about work-related injuries?

It feels amazing to receive a pay cheque, but you deserve to work in an environment that brings out the best of you. If the work environment is hazardous, speak to your boss about alternative options.

In the case that colleagues or your boss take advantage of your kindness, feeling the anxiety of fear of losing your job because of a high-stress environment may not be right for you.

Mental Signs

One out of five Americans has mental health issues, according to Mental Health America.[1] In most cases, it is related to stress.

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I remember working at a job in a work environment where harassment was acceptable. I had to walk on eggshells to avoid crossing the line with colleagues. My friends started to notice the difference in that I seemed out of character. It was then that I knew that changing a career to freelancing was the right decision.

Here is a list of mental signs of workplace unhappiness:

  • The tension in your neck
  • Difficulties with sleeping
  • Unable to concentrate
  • High anxiety
  • Depression

If you start to feel your self-esteem is diminishing, it is time to consider if working in a high-stress industry is for you. The truth is, this negative energy will be transferred to people in your life like friends and family.

Are You Sure You’re Not Changing for the Wrong Reason?

Most people that feel they need a career are frustrated with their situation at work. Do you really understand your current situation at work?

The reason it is important to think about the work situation is some people decide to change career for factors that are insignificant. Factors that can potentially change if the person works in a different department or new organization.

Here is a list of unimportant factors to think about before you decide to make the transition:

Desire for an Increase of Salary

The desire for a higher income can persuade some to believe they are in the wrong career. The issue with this is more money requires more time in the office or taking on several positions at a time.

At times, pursuing a high-income role can be the complete opposite of what one is expected. It is what happens when a colleague leaves a company to a new one and returns several years later.

Overnight Decision

Let’s face it. We make overnight decisions when stressed out or disappointed with situations at work. The problem with a quick decision is the negative and positive points is overlooked.

Rejected for a Promotion

I have heard stories of managers that applied ten times for a position throughout a 5-year period. Yes, it sounds to be a lengthy process, but at times, a promotion requires time. Avoid changing a career if you do not see the results of a promotion currently.

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Bored at Work

Think deeply about this point. If you work a job that is repetitive, it is normal to feel bored. You can spice it up by changing the appearance of your desk, socializing with new employees in a different department, joining a leadership committee at work or coming to work with enthusiasm. Sometimes, all it takes is you to change jobs into a fun situation.

A career change can take time, networking, education and the job search process can be a journey. Here is a list of things to consider before making a final decision:

  • How long have you worked in your career?
  • What is the problem at work? Do you work well with the team?
  • Do you receive recognition?
  • Can you consider working in a new department?

If after reviewing your work situation and none of the above recommendations can help, then it’s time to make a career change.

How a Career Change Will Change Your Life

I have a friend that works in the medical industry. She was once a nurse working directly with patients in one of the top hospitals in her area. After five years, she started to internalize the issues with her patients to the point where she felt depressed after work hours. It impacted her relationship with her family and she almost lost herself.

One day, she decided to wake up and take control of her destiny. She started applying for new medical jobs in the office. It meant working on medical documentation of patients which is not an ideal career based on what society expects a medical professional to perform. But she started to feel happier.

It is a classic example of a person that was negatively impacted by issues at work, stayed in the same industry but changed careers.

A career change can fulfill a lifelong dream, increase one’s self-esteem or revive the excitement for one’s work.

You know a career change can be the right decision to make if you experience one or all of these:

  • Working in a negative workplace: Don’t be discouraged. A negative workplace can be changed by working at a new organization.
  • Working with a difficult boss: The challenges of working with a difficult boss can be stressful. All it takes is communication. You can address the issue directly with a manager professionally and respectfully.
  • Feeling lost about what you do: Most people stay at their jobs and settle for mediocrity because of the fear of failure or the unknown. The rise to success often comes with working a tedious role or stepping outside of one’s comfort zone. If you fear the idea of being involved in activities that are new, remember that life is short. Mediocrity will only continue to make you feel as if life is passing you by.

How to Make a Career Change Successfully

The ultimate key to success is to go through a career transition step by step to avoid making the wrong decision.

1. Write a Career Plan

A career plan has a dead line for action steps that includes taking new courses, learning a new language, networking or improving issues at work.[2] A career plan should be kept in your wallet because it will motivate you to keep pursuing the role.

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You can learn how to set your career plan here.

2. Weigh Your Options

If you have a degree in Accounting, write down five positions in this industry of interest. The good news is diplomas and degrees can be used to a variety of roles to choose.

You don’t have to stick to what society holds a top job. In the end, choosing the right role that will make you happy is priceless.

3. Be Real About the Pros and Cons

It is time to be honest about strengths, weaknesses, opportunities and threats in the job market that are impacting the current situation.

A SWOT Analysis of a career can include:[3]

  • Economic factors
  • Direct competition: Is this role in high demand?
  • Location: Do you need to move? If the goal is to work in tech and living in Cincinnati is not realistic, consider moving to San Francisco.
  • Achievements: To stand out from the competition achievements like awards, committee involvement, freelance work or volunteering is a recipe for success.
  • Education: Do you need to go back to school? Education can be expensive. However, online courses, webinars or self-study is an option.

    A career blueprint is the first step to creating realistic goals. A person without goals will be disappointed without a clear direction of what to do next.

    4. Find a Mentor or Career Coach

    A mentor or a career coach that works in the desired position can share the pros and cons of working in the role. Here is a list of questions to ask a mentor:

    • What is required to be successful in the role?
    • What certification or educational development is needed?
    • What are the challenges of the role?
    • Is there potential for career advancement?

    A chat at a coffee shop with a mentor can change your mind about the desire for a career change.

    Find out how to pick a good mentor for yourself in this article: How to Find a Mentor That Will Help You Succeed

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    5. Research Salary

    Some people decide to change careers for a role that pays less or perks like benefits to make up for the difference in previous to potential salary.

    It can reveal the cities throughout the country that offer a higher salary for those that have an interest in relocating for work.

    6. Be Realistic

    If your goal is to move up into an executive position, it is time to be honest about where you are in your career.

    For example, if boardroom meetings, high-level discussions about financials or attending weekly networking events are boring, an executive role may not be right for you. If you are an introvert and working with people every day is nerve wrecking, you need to reconsider a job in sales.

    Ask yourself if you can work in this role for the next five years of your life. If other benefits that come with the role are enticing, other roles are fit that will make you happy.

    7. Volunteer First

    A person that wants to become a manager should take on volunteer opportunities to experience the reality of the position.

    Becoming a committee member to pursue a presidential opportunity can provide a perspective on leadership, maintaining a budget and public speaking.

    Volunteer in a role until you are certain that it is the right opportunity.

    8. Prepare Your Career Tools

    I recommend asking a boss, colleague or mentor for career tools. If you prefer professional assistance, you can seek out resume writing assistance. Here is a list of things to consider when preparing career tools:

    • Online search: Search your name online to see what shows up. I recommend searching images that are on Facebook, Twitter, Snapchat or other sites on a personal account. The last thing you want to realize is the job search is unsuccessful because there is unprofessional content you posted online.
    • Be LinkedIn ready: Recruiters conduct a LinkedIn search to see if the work experience is the same on a resume. Remember to change the wording on LinkedIn from the resume, or it will appear there was no effort put into creating the profile.
    • Portfolio: A portfolio of work is recommended for people that work in the arts, writing, graphic design and other fields. I recommend a portfolio online and one that is available in hand when attending job interviews or networking meetups.
    • Cover letter: A good cover writer will always impress your potential employers. Here’s how to write a killer cover letter that stands out from others.

    Bottom Line

    It takes time to move towards a new career. Pay attention to the physical and mental signs to maintain your health. You deserve to work in happiness and come home stress-free. If you avoid the common mistakes people make, you will find a job and discover the role in a career field that is the best fit with your skillsets.

    Master these action steps and changing career paths will be on your terms to make the best decision for your future.

    More About Career Change

    Featured photo credit: Pexels via pexels.com

    Reference

    [1] Mental Health America: The State of Mental Health in America
    [2] MIT Global Education & Career Development: Make a Career Plan
    [3] Creately: Personal SWOT Analysis to Assess and Improve Yourself

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