Qualities of entrepreneurs

1. Entrepreneurs are doers and thinkers
   Entrepreneurs are typically both action-oriented (doers) and strategic (thinkers).
2. Entrepreneurs are not born but made
   This is a truth, widely accepted in entrepreneurship theory. It emphasizes that entrepreneurial traits can be learned and developed.

Myths made by entrepreneurs

1. Entrepreneurs are academics and social misfits
   ✅ Myth – This stereotype suggests entrepreneurs are outliers in society or academia. In reality, entrepreneurs come from diverse social and academic backgrounds and are often well-networked individuals.
2. Entrepreneurs must fit into an ideal profile
   ✅ Myth – There’s no one-size-fits-all personality or background for successful entrepreneurs. Innovation and success come from a wide variety of personal traits and experiences.
3. All Entrepreneurs need is money
   ✅ Myth – While funding is important, it’s not sufficient. Vision, persistence, planning, and execution are just as critical.

Good Practice made by entrepreneurs

1. To anticipate roadblocks
   ✅ This is actually a good practice. Successful entrepreneurs are expected to anticipate and plan for roadblocks.
2. Proposing market niche (Segment)
   ✅ Identifying and targeting a niche market is generally considered a strength in entrepreneurship, not a mistake.

Most common errors made by entrepreneurs

1. No commitment or dedication
   ✅ Common error – Lack of personal commitment and dedication is a frequent reason for entrepreneurial failure. Passion and persistence are critical for success.
2. Lack of demonstrated experience
   ✅ Common error – Entrepreneurs often start ventures without sufficient experience in the industry or management, which can lead to poor decision-making.
3. No realistic goals
   ✅ Common error – Setting vague or unrealistic goals often leads to confusion, misaligned efforts, and failure to achieve targets.