Debunking Entrepreneurial Myths | Davis Business Consultants

When it comes to business development, we’re diving into debunking entrepreneurial myths. We’ll take a close look at the world of e-myths and break them down to help you steer clear of falling into the e-myth trap.

First, what is an e-myth? An entrepreneurial myth, or e-myth, is an assumption that anyone can succeed at business with:

Desire
Some capital
Projected a targeted profit

This sounds great, but it just isn’t realistic. Think of starting a business as a marathon. Sure, everyone starts from the gate at record pace, but after a few miles people start slowing, and some drop out entirely. Building a successful business takes stamina and agility.

The reality is that there are many different facets to a successful business and none of them can be ignored if you plan to find success.

Let’s take a minute to talk about entrepreneurial seizure. Specifically, this term defines the roller coaster of emotions that comes with starting, nurturing, and possibly facing the potential failure of a business.

The emotions that occur, in order, are:

Exhilaration
Exhaustion
Despair
Sense of self-loss

Success is never a solo journey. The best entrepreneurs know when to seek help and surround themselves with experts to turn challenges into opportunities.

E-myths and assumptions are often the primary cause of this. Consequently, high hopes for instant success can easily send you into an emotional tailspin at the slightest lag. The stark realization that you can’t do it all and will need help in areas where you’re less knowledgeable also brings this on. That’s where successful entrepreneurs succeed – they surround themselves with experts in the areas that they’re not experts in.

Are You Aiding & Abetting E-Myths?

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