As more people aspire to become entrepreneurs, it is important to dispel many of the misperceptions about this species. Here are six big ones that even some entrepreneurs believe:
1. They are the smartest and most high achieving people in the room: They certainly weren’t growing up. It is highly unlikely they were the valedictorians of their classes in college. As one successful entrepreneur recently said to me, “If I had a 4.0 at graduation, it stood for the number of parties I went to the night before rather than my GPA.” Entrepreneurs don’t typically try to please other people; rather, they find something that deeply fascinates them and then hyper-focus on that particular opportunity. Hence, the high dropout rates. Case study: Steve Jobs
2. Entrepreneurs are individualists: The research on this one is clear from people like Professor Ed Roberts of the Martin Trust Center for MIT Entrepreneurship who found that the more people you have on the founding team, the better your odds of achieving success. When you peer behind the curtain of most success stories, you will find a diversified team of founders who made it happen, even if a subsequent public relations team creates a success story of a Horatio Alger type pulling him or herself up by the bootstraps. The reality is that entrepreneurship is a team sport rather than an individual sport.
Read the full post at Forbes.
Bill Aulet is a Senior Lecturer and Managing Director in the Martin Trust Center for MIT Entrepreneurship at the MIT Sloan School of Management.