7 Things People Don’t Understand About Entrepreneurs

Entrepreneurship has been portrayed through the media a lot more in the last few years. Shows such as Shark Tank and Silicon Valley have caught the eyes of many people who aren’t entrepreneurs.

Through these shows, many people think they have a very good idea about what it’s like to be an entrepreneur. However, most people are really wrong about their misconceptions of entrepreneurs.

In this article, I discuss 7 things people don’t understand about entrepreneurs:

1. It’s Not All About The Money

I’ve talked to many entrepreneurs over the years and I’ve learned that money is important, but it’s usually never the primary reason why people start their own business. More often than not, people start their own business to follow their passions or to gain more freedom in their lives.

Media and many successful entrepreneurs show off the multimillion dollar mansions and luxury sports cars, but that’s not what all entrepreneurs are about. If I was a multimillionaire, I’d probably treat myself to those luxuries too. However, I am an entrepreneur because I get to do something I love.

2. They Have A Job & It’s Probably Better Than Yours

Many people think ‘entrepreneur’ is a label that others use when they are unemployed. In fact, it’s probably the opposite of what they think. Not only do they have a job, but it’s probably better than the job that you have.

Entrepreneurs are anything but unemployed. Working for yourself and pursuing a vision that you can only see is probably one of the most rewarding jobs on the planet. Not only do you get self satisfaction, but you have the potential to disrupt an industry forever.

3. They Create Opportunity Instead of Finding It

Many people think that entrepreneurs just find an amazing opportunity and capitalize on it. However, entrepreneurs are doing much more than finding an opportunity. In fact, they are creating an opportunity for themselves.

Finding an opportunity would be equivalent to finding an amazing job that will increase your salary by 25% yearly. Creating an opportunity is finding a niche, building a product for it and launching it to the market.

4. They Are More Frugal Than You Think

Entrepreneur’s celebrate and blow their money when they have a reason to do so. Most of the other times, they are actually extremely frugal with their money. Most entrepreneurs understand the concept of bootstrapping their business early on and spend as conservatively as they can.

Most of the entrepreneurs that I have met are extremely conscious about how they spend their money. They believe in a truly frugal lifestyle with a strong focus on investing until they reach a certain financial milestone. After that, they are a lot more loose with their spending especially since they deserve it.

5. They Are Constantly Feeling A Wave of Emotions

Great entrepreneurs look calm, cool and collective on the outside. You wouldn’t know from the face of a great leader if things were ever horribly going wrong. They are well composed and control any situation that is before them.

Most entrepreneurs will tell you how much of an emotional roller coaster running a business is. One day, you’ll be on the top of the world while the next day you’ll be at the bottom of the emotional hill. Entrepreneurship is tough, it requires a lot of mental courage to survive.

6. They Worked Their Ass Off To Get Where They Are Today

Many people think it’s really easy to get funded. I once went to a networking event and this delusional guy thought that anyone with an idea would get funded. That’s hardly the truth about entrepreneurship.

Before anyone will cut you a check for a single dollar, you have to put in a lot of hard work. Most investors are extremely disciplined and will ask you to build a minimum viable product and gain traction before investing a penny into your business. Most entrepreneurs have to struggle, sweat and push their way through the first few years to get where they are today.

7. It’s Not Easy At All

Many people from the sidelines think it’s extremely easy to be an entrepreneur. They think that just because you get to make your own hours and be your own boss, it’s a walk in the park. That’s hardly the truth.

Every time we watch a basketball game on television and we see Kevin Durant miss that jumper, we think we can make it. Remember, it’s always easier said than done. Entrepreneurship is one of the toughest challenges anyone can take on. Only the brave and mentally strong survive.

Conclusion

In this article, I shared 7 things people don’t understand about entrepreneurs. What are some other things you have found that people don’t understand about entrepreneurship?

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