What is the most MISCONCEIVED part of entrepreneurship?

[ZF Lee]

Define "top spot". I have a director of golf/general manager. He is the top in command as far as the customers see. We have a staff meeting every week with the GM, Superintendent, my wife and I. We are the ones that make the major decisions. Our staff is the face of the company.

What would you look for when picking a Director or CEO?

Would you prefer to promote a senior up the rank, or get one from your outside network?

 

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[Rabelo]

i'd say the most misconceived part of entrepreneurship is failure, most people spend most the time trying to avoid failure and disappointments, it is not entrepreneurship that builds walls to stop us out, but the socially constructed beliefs of how entrepreneurship ought to be,and our expectations around that.like the pic Mj once posted showing how social media portrays entrepreneurship (spending the whole day with your laptop at the beach while sipping Dom Perignon) when in reality,one has to be out there and take the ''swing on the wild side''
I have came to understand that failure is part of the ingredients in 'entrepreneurship'.so by failing it doesn't mean you are out of the game & you must be willing to fail "until echo".
in summary : Fail,cry,come back and fail again

 

[Mr.Brandtastic]

Some people have already hinted at it on here. But what I see is....

LEGENDARY IDEA THEORY: A theory that average people have that in order to truly create a successful new business, you must have a brand new legendary idea. A good idea with a great execution does not enter his mind. We can talk about the millions of businesses that have failed but it is drop in the bucket compared to the trillions of businesses that have never been pursued.

Great is the enemy of the good. Ultimately a mom-and-pop shop on mainstreet could net you a ton of money. Allow you to franchise. But they don't see it. What they see are legendary inventors and CEOs making big bucks with brand new products. They think that if they can't make something new, then there is no point. And since average people are of average intelligence, they don't come up with many legendary ideas (maybe one a decade). A good idea with great execution can make millions even billions in many cases.

Secondarily, I would say that the idea of "luck" pervades the average person's mind. "Oh that business got lucky" or "Oh that person got rich because he blah blah blah made up excuses blah blah." Since he can't conceive that anyone could be rich because they make a product that millions want, it must be luck or some kind of evil trickery. Reality is of course, the opposite. These people serve and help millions. It is a skilled plan and organization that gets success, not throwing darts on a dartboard.

 

[TreyAllDay]

Some people have already hinted at it on here. But what I see is....

LEGENDARY IDEA THEORY: A theory that average people have that in order to truly create a successful new business, you must have a brand new legendary idea. A good idea with a great execution does not enter his mind. We can talk about the millions of businesses that have failed but it is drop in the bucket compared to the trillions of businesses that have never been pursued.

Great is the enemy of the good. Ultimately a mom-and-pop shop on mainstream could net you a ton of money. Allow you to franchise. But they don't see it. What they see are legendary inventors and CEOs making big bucks with brand new products. They think that if they can't make something new, then there is no point. And since average people are of average intelligence, they don't come up with many legendary ideas (maybe one a decade). A good idea with great execution can make millions even billions in many cases.

Secondarily, I would say that the idea of "luck" pervades the average person's mind. "Oh that business got lucky" or "Oh that person got rich because he blah blah blah made up excuses blah blah." Since he can't conceive that anyone could be rich because they make a product that millions want, it must be luck or some kind of evil trickery. Reality is of course, the opposite. These people serve and help millions. It is a skilled plan and organization that gets success, not throwing darts on a dartboard.

Honestly this one hits home for me, and I'm surprised I didn't mention it. I used to have straight up IDEA SESSIONS with 2 or 3 entrepreneurial buddies just scribbling ideas on a whiteboard and that was "working the business" to me. It was all about the idea, honestly I think my strongest belief was that I needed to have some sort of epiphany, and once I had it I would be super successful. Any idea I did have: if I googled it and saw one other person doing it, it was on to the next.

 

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[RogueInnovation]

A lot of great stuff in this thread
Unfortunately I can't add more than I already did

Damn lack of experience past that point

Elon Musk is superhuman. He is one in billions. I read his biography and almost everyone around him acknowledges he is somewhere on the spectrum. Definitely a savant he can do rocket science calculations in his head. In His Head! He has this ability to hyperfocus so well he goes into a trance state. I say this because although reading his biography filled me with awe for his accomplishments, the surprising thing is for the first time I wasn't diminished in comparison.

He is really relateable
And pretty much one of the only reasons I have decided to keep going with business
I mean, his purpose for what he does is of the breathtaking kind
I saw this interview where he was helping Australians with electricity problems
Some people live in total poverty cuz the bills are just so high and they are forced to skip meals...
And he tears up, after hearing it and says "I didn't know that, we will try harder"

Just such a good guy, and tbh I feel like we are living in a generation that gets to witness true greatness. I mean, I don't think I've ever heard of anyone quite as astounding. It is remarkable.
Compared to him I truly am zero.
But it inspires me somehow.
That guy...

If anyone I want to be more like, it is him. That is the REAL sh*t right there. That is the dream. Its about mankind pushing forward, and he knew it, and knows it and is doooooooooing it!!! OMG. The sheer power of that

Yes!
Thankyou ELON!!!