IT Entrepreneurs line up the world of today. With the advancements in technologies such as Artificial Intelligence, Machine Learning, Blockchain, and the Internet of Things, entrepreneurs in the tech space are gearing up to leverage these for creating disruptive solutions for businesses in various industries.
All entrepreneurs have a dream- the same dream- of building an empire for themselves through their groundbreaking solutions. However, there are some hurdles that come in the way of entrepreneurs and their dreams. These obstacles prevent the passionate business owners from realizing their objectives.
Some of these limiting agents are myths. Entrepreneurship is a boat in which only the daring ones want to get in and not many people dare to enter. But, somehow a lot of myths have entered into our minds regarding what entrepreneurship is and what it is not for the businesses in the IT domain. Here, we debunk some of these-
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An Effective Sleep Routine – Most entrepreneurs are advised to sleep early and wake up earlier. While waking up early as proven advantages, some people witness productivity boosts late into the night. Does this mean it is still the need of the hour to wake up before the Sun is out? Definitely not. For entrepreneurs trying to get their business up and running, especially in the technology and software development outsourcing domain, they may need the quiet of the night to code their hours away!
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Investors – Investors are not critical to a software business’ success. This is a myth that needs to be crashed and deleted from our minds. Bootstrapping your startup allows you to maintain complete control over your processes and your team. However, that is not the case when you are playing with someone else’s money. The road to success does not need an investor.
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Flexibility and Fun – It is a myth that entrepreneurs have no life! People think entrepreneurs are this rare breed who only work 24/7. This is not true. Since entrepreneurs are their own bosses, they get to choose when they want to work and when not. To some extent, they can decide when they want to take time off their work and when they want to dive back into it. For all we know, the person who is creating their dreams does not need anything else, because building a dream business from the ground up is in itself an adventure and a fun task.
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Loving Money – It is a falsity to presume that since you are starting a business, you need to earn huge amounts of money. Money is what follows you when you work to better your craft and deliver value to your customers. As an entrepreneur in the IT space, you need to not make money the center of what you do, rather focus your energy in delivering great products and services.
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Starting Young – There is no statistic that shows all entrepreneurs start young and die rich. According to research and studies around the same, the average age of a successful entrepreneur happens to be 39. Needless to say, there is no need for rushing into things and creating a mess. Entrepreneurship takes time and wisdom. As an IT business owner, you need to realize that your current aim is not to become successful, but to keep on consistently deliver value.
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Standing Out – Entrepreneurs don’t always need to stand apart from the crowd in terms of the ideas they are working on. Even the most routine and general services and products can be made better by tweaking just one of their aspects. Disruptive ideas can fail easily.
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A Business Plan – It is completely wrong to believe that all successful businesses were once a business plan. You just need to be clear on your objective on your inside. Then, it is not imperative to put the plan to paper.
Some of the biggest myths of being an entrepreneur have been busted. Entrepreneurs just do things differently and don’t budge once they have set on their path.