Entrepreneur Myths (48 page)

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Myth 9:
Men are better entrepreneurs than women

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Myth 10:
Married couples should not entrepreneur together

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Myth 11:
Entrepreneurs have a balanced life

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Myth 12:
If you fail, you can try, try again

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Myth 13:
The journey is the reward

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Myth 14:
Ideas are a dime a dozen

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Myth 15:
All you need is a great idea in order to succeed

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Myth 16:
Make it and they will come

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Myth 17:
Ideas and ideation come through purpose or special intent

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Myth 18:
You must be first to market (differentiation is more important)

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Myth 19:
The business plan is critical

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Myth 20:
Sales projections are critical

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Myth 21:
You must have an office

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Myth 22:
You don’t need an attorney

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Myth 23:
In business, most people tell the truth

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Myth 24:
Competition is not important as long as you focus on your customer

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Myth 25:
Getting distribution is easy

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Myth 26:
The best exit strategy is an IPO

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Myth 27:
Raising capital is easy if you have a great idea

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Myth 28:
You have to dress for success when raising capital

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Myth 29:
You need capital to develop a product or service

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Myth 30:
Money grows on trees

Copyright Damir Perge | entrepreneurdex.com

Myth 31:
You can raise money overnight

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Myth 32:
Dumb money is bad money, and smart money is good money

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Myth 33:
Take the money, take the money and take the money

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Myth 34:
The check’s in the mail

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Myth 35:
Raising
big
money is harder than
small
money

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Myth 36:
Investor’s are easily found

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Myth 37:
OPM is the best way to fund your venture

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Myth 38:
Angels are angelic

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Myth 38:
Micro angels are wealthy enough

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Myth 38:
The wealthy devil angels

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Myth 39:
VCs are smarter than you

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Myth 40:
Venture capital is risk capital

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Myth 41:
Getting a venture capital meeting is easy because your idea is so great

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Myth 42:
You can trust a venture capitalist

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Myth 43:
Venture capital is the best way to fund your venture

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Myth 44:
Sweat equity is extremely valuable

Copyright Damir Perge | entrepreneurdex.com

Myth 45:
Valuation is based on numbers

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Myth 45:
Startup Valuation Analysis Table

Copyright Chiko StatChimp | entrepreneurdex.com

Myth 46:
Your employees understand your daily pressures

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Myth 47:
Your employees will work as hard as you do

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Myth 48:
Your employees are entrepreneurs too

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Myth 49:
Your friends and family will be honest about your idea

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Myth 50:
Family members make great employees

The Field Museum, Creative Commons, Flickr

Myth 51:
Your partners are willing to share the same risk as you

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Myth 52:
Equal partners do equal work

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Myth 52:
Radojevich Family Farm, Sremska Mitrovica, Serbia

Copyright Damir Perge | entrepreneurdex.com

Myth 53:
Good partners are easy to find

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Myth 54:
‘Til exit do partners part

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Myth 55:
Boards and advisory boards are critical to the success of your venture

Copyright Damir Perge | entrepreneurdex.com

Myth 56:
Venture capitalists are vultures

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Myth 57:
A power law works in your favor

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Myth 57:
Power law applied to exits: number of companies with > $100 million exits

Copyright Chiko StatChimp | entrepreneurdex.com

Myth 58:
You can’t build a billion dollar company overnight. (
Download for free.
)

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Myth 59:
Bubbleprenuer: It’s like 1999. (
Download for free.
)

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Myth 60:
Pets@office is not professional

Copyright Damir Perge | entrepreneurdex.com

Entrepreneur
Questionnaire

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Venture
Questionnaire

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Recommended
Book
List

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Moola
dex

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ABOUT THE
AUTHOR

Damir Perge, author of
Entrepreneur Myths
, is the founder of entrepreneurdex, a venturcelerator using complexity science to fund and launch startups in a variety of sectors.

An entrepreneur and investor, Perge's first venture was formed while he was a member of the Entrepreneur Club at Southern Methodist University (Dallas, Texas). With more than 20 years experience, he's worked with ventures in the technology, entertainment, energy, manufacturing and commodities sectors raising and investing more than $50 million into startup and emerging ventures.