Entrepreneurship is a strange subject that has never been fully uncovered. Every entrepreneur travels a separate and unique path, some to great success, other to moderate success, and the majority to failure. While there is never a shortage of people willing to share their entrepreneurial journey there is also a good number of startup myths that every entrepreneur needs to debunk to see entrepreneurship for what it is, the challenges and opportunities. What are some of these myths?

Money equals success

A good number of budding entrepreneurs falsely believe that having adequate will automatically translates to a successful venture. But capital is a means to an end. It is supposed to facilitate the business run operations. A viable idea coupled with a sound financial plan is more important than being flush with cash. A sound business plan will always get a venture the capital needed.

A great product is all that is needed

A great product is probably the most important thing to a venture. However, even a great product cannot sell itself. It must be packaged and shown to have a place in the market. Investors must see that there is a demand for the product.

All startups become famous

While famous startups like Microsoft, Facebook, and HP went on to become giants with billions in profits, the truth is that the average startup will turn into a moderately performing business just like millions of other Small and Micro Enterprises that make up the bulk of businesses in the UK and around the world. However, with the right strategy, any venture can become a world-famous brand earning the founders superstar status.

If you sell they will buy

While optimism is important in keeping the faith in a startup, false bravery can lead to crushing disappointment. Simply putting the product on the market does not mean that the market will jump for it in their millions. Achieving good sales requires a sound marketing plan which involves generating leads, nurturing those leads and convincing them to buy. The hard truth is that   there is competition to contend with.

Entrepreneurs work 84 hours

While building a venture certainly does require work, hard work does not translate to smart work. Entrepreneurs do not have to break their backs for successful ventures. What a venture needs is a smart business plan that spells out what needs to be done, when it needs to be done and who is responsible for it.

Social media likes translate into money

Anyone can get a 100,000 likes. Translating these likes into real success is the real work.