3 Entrepreneurship Myths That Hold People Back from Success

Entrepreneurship is a concept that holds a special place in American culture.

It's one of those things that fits into a sort of cultural mythology, embodying values of individual self-determination and the American spirit.

But there are also “myths” surrounding entrepreneurship, in the other sense of the word: misconceptions.

This can trip up a lot of people who are new to business ownership, and it can be discouraging.

If you're going the entrepreneurial route, it's a good idea to understand the myths and facts about it before you begin.

In a recent podcast interview with Entrepreneur contributor Alan Taylor, consultant and author May McCarthy explains how these misconceptions set aspiring entrepreneurs back from achieving financial freedom.

She places an emphasis on the role of intuition in business processes.

Here are some of her biggest insights:

If You Build It, They May Not Come

It's not enough to offer an exceptional product or service; sales won't materialize if consumers don't know you exist.

From raising startup capital to differentiating yourself from the competition, McCarthy teaches us how to craft a winning marketing strategy and weather unexpected financial hardships.

[00:11:30] Creating Connections and Time Management

Moving full steam ahead, we bust three myths regarding business ownership.

We learn how to build a professional network comprised of mentors and contract workers, become a master of time management and create a corporate value system.

[00:18:21] Visualizing Success With Positive Projections

Our society places emphasis on the rational mind, always looking for data-driven answers and neglecting intuition.

McCarthy explains that while it's important to keep a level head, entrepreneurs must also learn to trust their gut.

Tap into your innate knowledge and make instinctual business projections.

You can read more about entrepreneurship myths, and check out the full podcast, over at Entrepreneur.