Myth: Entrepreneurs are risk-taking visionaries.
Truth: "Entrepreneurs are actually very good at avoiding risk rather than taking it on." ~Len Schlesinger / Babson College
Myth: The idea is more important than the details.
Truth: "A well-executed, decent idea is better than a poorly-executed, excellent idea." ~Gerald Shreiber / J&J Snack Foods
Myth: You should ramp up fast.
Truth: "You should hire slowly and carefully." ~Joe Kraus / Google, Excite.com
Myth: You need to jump at every opportunity as it comes up.
Truth: "Not all revenue is created equal. Rather than tackle each opportunity as it comes, learn to triage." ~Joe Kraus / Google, Excite.com
Myth: Being first wins the race.
Truth: "It's better to be a trend spotter than a trendsetter." ~Joe Kraus / Google, Excite.com
Myth: Jealously guard your idea, lest someone else steal it.
Truth: "While you don't want to put your entire business plan on the Internet, entrepreneurs who do their homework look to a relatively large but select number of people to talk through their ideas." ~Reid Hoffman / LinkedIn
Myth: Your business plan must be rock solid from the get-go.
Truth: "Building a company is an iterative process, and entrepreneurs must be willing to adapt to changes in customer demand or the competitive landscape. It's not like chess where you have a pre-formulated, deterministic strategy and must get all the moves in exactly the right sequence. No battle plan survives impact with the enemy." ~Reid Hoffman / LinkedIn
Myth: Passion will get you there.
Truth: "The most effective entrepreneurs learn to modulate their emotions." ~Rich Gelfond / IMAX
Myth: You can do it all yourself.
Truth: "People always think you can multitask your way to millions, but you cannot. It's the reason many businesses don't grow." ~Nell Merlino / Count Me In
Myth: You can set your own schedule.
Truth: "You have to be the first man in and last man out on any given day." ~Mike Zaya / Printrunner
Myth: There's glory in it.
Truth: "Entrepreneurs need internal motivation and reassurance because it rarely comes from outside." ~Amir Korangy / Real Deal
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