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Myths About Entrepreneurship

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Myths About Entrepreneurship,Startup Stories,List of Successful Entrepreneurs,Most Common Entrepreneurship Myths,5 Myths of Entrepreneurship,Characteristics of Entrepreneurship,Motivation to Entrepreneurs,Entrepreneurship Ideas

With a long list of successful entrepreneurs from whom you can get inspiration, many people dream of starting their own business someday.  However, there are some myths and stereotypes which discourage people from taking the path of entrepreneurship. Let us look at some of these myths and analyse if there is any truth to them.

Myths about entrepreneurship

 

1) Entrepreneurs are born with the trait

The most common myth in the world of business is, in order to become a successful entrepreneur, one has to be born into a successful business family and carry the art of entrepreneurship in their genes.  This completely disregards the idea that one can learn the art of entrepreneurship and it takes a lot of hard work and determination to make your business successful. The only thing which should be in one’s genes to become a successful entrepreneur is motivation, passion and persistence.

 

2) Must invent something new

Another common myth everyone believes is one should have a new and unique invention or idea to start a successful business.  While one can always work on new inventions, it’s not a requirement to start a new business. Entrepreneurship is all about solving problems and providing an answer to a problem, which nobody knew was possible.

 

3) A good product means a successful business

It is not wise to solely rely on creating a good product to make your business successful.  A successful business also depends on how capable and good the entrepreneur is. Whether it is marketing the product, building business connections, managing people or budgeting, the success of a company depends on the entrepreneur’s hard work and motivation.

 

4) A lot of money is required to start a business

While it is impractical to think one can start a business with no money, it’s also not true that you need a huge amount of money to start your own business.  In fact, there are many companies which started their business with $ 1,000 or less and went on to become successful.

 

5) Age is a limit

There is a famous misconception—you have to be young and restless to become a successful entrepreneur.  However, there is a long list of successful people to prove this myth wrong. The founder of Kentucky Fried Chicken (KFC,) Harland David Sanders, started his now massively famous company at the age of 62, while Robert Noyce co founded Intel at the age of 41.  According to a Global Entrepreneurship Monitor report, more number of older adults are self employed, compared to younger people.  This definitely busts the myth of age being a limit to becoming an entrepreneur.

 

There are a lot of myths which surround the idea of entrepreneurship and scare away many ambitious and talented people from starting their own companies.  So, it is always important to debunk the myths and stereotypes in order to get a clear idea about how the world of business works.

 

If we missed mentioning any other myths about entrepreneurship, comment and let us know.

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Entrepreneur Stories

From Digital Wallet to Stock Market: MobiKwik Expands Its Horizons with New Brokerage Venture

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From Digital Wallet to Stock Market: MobiKwik Expands Its Horizons with New Brokerage Venture

MobiKwik is venturing into the stock broking sector with the launch of its subsidiary, MobiKwik Securities Broking Private Limited (MSBPL), following approval from the Ministry of Corporate Affairs on March 3, 2025. This move aims to diversify MobiKwik’s offerings beyond its core digital payments services and compete with established players like Zerodha and Groww.

MSBPL will provide a range of brokerage services, including trading in shares, securities, commodities, and derivatives. The subsidiary has an initial capital of Rs 1 lakh, with plans for an additional Rs 2 crore investment to support its operations.

As MobiKwik enters this competitive market, it brings a substantial user base of 172 million and a merchant network of 5 million. Despite recent financial challenges, including a reported loss of Rs 55.2 crore in Q3 FY25, the company aims to leverage its existing infrastructure and user engagement to capture a share of the growing investment technology market, projected to reach $74 billion by 2030.

This strategic expansion aligns with MobiKwik’s broader goals of enhancing its financial service

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Entrepreneur Stories

Strategic Shift: Nazara Sells Entire Stake in Sports Unity Amid Financial Challenges

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Strategic Shift: Nazara Sells Entire Stake in Sports Unity Amid Financial Challenges

Nazara Technologies has sold its entire 71.54% stake in Sports Unity Private Limited, the company behind the multiplayer quiz game ‘Qunami’, for INR 7.15 lakh. This divestment, effective March 25, 2025, signifies a strategic shift for Nazara, which had previously acquired a controlling interest in Sports Unity in 2019 for INR 7.5 crore.

The decision to offload the stake comes as Sports Unity has faced financial difficulties, reporting no active business operations and a negative net worth of INR 0.45 crore at the end of FY24. This move aligns with Nazara’s broader strategy to streamline its operations and concentrate on more profitable ventures within the gaming sector.

This sale follows Nazara’s recent divestment of a 94.85% stake in another subsidiary, Open Play, to Moonshine Technologies for INR 104.33 crore. Despite reporting record quarterly revenue of INR 544.7 crore in Q3 FY25, Nazara experienced a 53.5% decline in net profit year-over-year.

Nazara continues to focus on enhancing its portfolio through strategic acquisitions and investments in high-potential gaming platforms while navigating the competitive landscape of the gaming industry.

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Fractal Invests $20 Million in Asper.ai to Accelerate AI Solutions for Consumer Goods

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Fractal Invests $20 Million in Asper.ai to Accelerate AI Solutions for Consumer Goods

Fractal, a leading SaaS unicorn, has announced a strategic investment of $20 million in Asper.ai, an AI-driven platform focused on the consumer goods and manufacturing sectors. This funding, revealed on March 19, 2025, aims to accelerate Asper’s growth by enhancing product development and expanding its enterprise customer base.

Investment Highlights

Pranay Agrawal, Co-Founder and CEO of Fractal, expressed excitement about the partnership, noting Asper’s impressive growth over the past three years. He stated that this investment will unlock new opportunities for enterprise customers and drive further innovation within Asper.

Asper.ai’s Objectives

Mohit Agarwal, Co-Founder and CEO of Asper.ai, emphasized the need for consumer goods leaders to have a strategic ally that can adapt to their operations and transform data into actionable insights. The investment will support Asper in building its autonomous growth AI platform and attracting top talent.

Future Plans

Anuj Kaushik, Co-Founder and Chief Commercial Officer of Asper.ai, highlighted the positive market response to their offerings. With Fractal’s investment, Asper.ai plans to enhance its AI capabilities across key areas like demand forecasting and revenue growth management.

Conclusion

Fractal’s $20 million investment marks a significant step in advancing AI solutions within the consumer goods sector. The collaboration between Fractal and Asper.ai is set to redefine how businesses leverage AI for growth and efficiency in a competitive landscape.

 

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