The Entrepreneurial Myth

  04/29/2021

Many times millionaires and empire owners tell aspiring entrepreneurs the benefits of entrepreneurship. But that's only a half-truth. On the flip side ~ especially in the first year ~ stress weighs heavily on many business owners. 

The success stories, Instagram posts and moments shared in your group chat are only 1% of someone's life. We never know someone's entire life story. In The E-Myth, Michael Gerber reveals the ugly side of starting a business. Many people view entrepreneurship as brave and admirable. But this is a myth.

Few realize that many entrepreneurs face exhaustion and stress, along with time and financial strain. That is, until they become one themselves. Since 80% of small businesses fail in the first year, this wastes resources, human capital and growth opportunities of economies.

In today's society, there has been an explosion of online entrepreneurship and learning. This modern occurrence helps stop the E-Myth from spreading among future generations because:

  1. More new businesses allow many people to experience the ugly side of entrepreneurship.
  2. Since many know the truth, there is no reason to share only the advantages of being your own boss.
  3. Knowledge, coaching and resources become more accessible. With these support systems in place, entrepreneurs get the help they need to grow past the first year.

If you're considering entrepreneurship, weigh the pros and cons of being self-employed. And when you do it, remember that several support systems exist outside of family and friends.

No aspiring entrepreneur should miss out. Grab a copy of Michael Gerber's The E-Myth Revisited.