BUDAYA KEUSAHAWANAN (PPI3012)

SEMESTER 1 SESI 2021/2022

10 MYTHS ABOUT ENTREPRENEURS

NAME : NUR WANI BINTI AMRAN

MATRIC NUMBER : D20211099342
GROUP :Y
LECTURE’S NAME : DR RAJA NAZIM BIN RAJA ABDULLAH
10 MYTHS ABOUT INTREPRENEURS

1. Entrepreneurs are born, not made

I reject this myth because anyone can become an entrepreneur if they can learn the
necessary skills. Entrepreneurial ability is largely determined by a person's inborn
characteristics

2. Entrepreneurs are doers, not thinkers

I reject this myth because entrepreneur will think to make careful and strategy plan.
Entrepreneur will try to come out with alternative action towards a solution.
3. Entrepreneurs are always inventors

I reject this myth because as we know not all inventors are entrepreneurs. Many
successful entrepreneurs are not inventors, but rather use creative ideas in doing
something. They will modify and innovate to suit the market demand and become
popular.

4. Entrepreneurs are academic and social misfits

There are people who have started successful enterprises after dropping out of school or
quitting a job. The entrepreneur is now viewed as a highly educated professional, who is
well versed and sociable with excellent communication skills, and strives in economic
development of the community & the country
5. Entrepreneurs must fit the “profile”

I reject this myth because anyone can become entrepreneur as long as they have spirit to
become successful entrepreneurs. There are checklists of characteristic of the successful
entrepreneur that presented in many books and articles. But not all the characteristics
must have in the individual. Only do some of that to become a successful entrepreneurs.

6. Entrepreneurs need is money

I reject this myth. It is true that we can see large number of business failures occur
because of lack of financing. But if they have money but lack of business marketing and
poor services, their business also can fail. So money is not the objective to become
entrepreneurs.
7. All entrepreneurs need is luck

I reject this myth because entrepreneurs don’t need luck. Being in the right place at the
right time is always an advantage that entrepreneurs can get. Luck happens when
preparation meets opportunity.

8. Ignorance is bliss for an entrepreneur

The myth that too much planning and evaluating will give rise to problems. In the
competitive world of business, which demanded detailed planning & preparation,
entrepreneur should be equipped with solid knowledge and strategies, which would be
keys to success.
9. Entrepreneurs seek success but experience high failure rates

I accept this myth because many entrepreneurs will suffer a number of failures before they
are successful. This is because failure can teach many lessons towards the person who are
willing to learn and failure often. So this will lead to success in the future.

10. Entrepreneurs are extreme risks takers (gambler)

I accept this myth because the concept of risk is a major element in the entrepreneurship
process. While it may appear that an entrepreneur is “gambling” on a wild chance. The fact
is that the entrepreneur is usually working on a moderate or “calculated” risk. Most
successful entrepreneurs work hard through planning and preparation to minimize the risk
involved.