15 First-Time Entrepreneur Misconceptions

David Cummings on Startups

Entrepreneurs are a unique bunch. So much ambition, optimism, and blissful ignorance all wrapped in a desire to change the world. First-time entrepreneurs are especially exciting as they don’t know what they don’t know, making for even more limitless possibilities.

Here are 15 misconceptions for first-time entrepreneurs:

1. The destination is more fun than the journey
2. The initial product idea will be successful
3. All money is created equal
4. Things happen fast
5. Great products sell themselves
6. If you build it, they will come
7. Failure to raise money is due to a lack of investors that get it
8. Culture is one of many items that can be controlled
9. Timing a market is easy
10. It’s lonely at the top
11. Work/life blend isn’t possible
12. Scaling a business takes the same skills as starting one
13. No competition is a good thing
14. Business plans are required
15. The company with the most funding wins

Often, you have to experience something first-hand to…

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