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60 Second Business Tip: Myths of Entrepreneurship

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There’s a lot of great information out there about entrepreneurship, but some of the ideas out there aren’t quite right, says business development consultant and londonbusinessblog.com magazine writer Terry Rice. In the video above, Rice breaks down three common myths about entrepreneurship.

Myth 1: You must follow your passion.

Well, that sounds nice, but it’s not quite true. Instead of passion, focus on the goal. What is something you are good at that can help people and have a meaningful impact on your life?

Myth 2: You should try to make as much money as possible.

You could be happy making $60,000 a year as a solopreneur or totally miserable making $600,000 by managing a large workforce. You get to decide what success means to you, not to society.

Myth 3: You must have a unique idea.

The truth is that there have already been many good ideas. But your personality, experiences and character can allow you to put a unique spin on it and possibly find room for improvement.

Related: 60-Second Tip to Become More Productive

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