Why "Freelance" doesn't mean unemployed + 9 other myths about entrepreneurship
When I first set off to start my own marketing consulting company, I had no idea what to call myself. I ran through titles like it was my job--except it was my job.
From "owner" to "freelancer," I tried them all. And, somewhere along the way, I met a lovely--albeit misguided-- woman who told me this: "Oh, you're a freelancer. In corporate speak we just call that unemployed."
Her words hit me like a bag of bricks. I was NOT unemployed. I was hustling my life away to fight for my dream! How dare she compare my WILLFUL exit from corporate America and successful entrance into entrepreneurship to being unemployed!
But then, I got to thinking. If "corporate America" thinks freelancing means unemployed, what else do they think about my entrepreneurial mindset and accompanying lifestyle? And so I began to ask clients, friends, the Internet--you name it.
And, boy did they have a lot to say.
Which led me here, to the top 10 myths you shouldn't believe about entrepreneurship:
1. Freelance= Unemployed.
Though you likely already see where this is going, I feel the need to clarify a few points, and maybe even offer some insight to expand your horizon. Freelancers work. They work hard. Whether hustling for clients, catering to needs on a whim, or working on deadlines--the struggle is real.
But beyond that, freelancers are all unique. There is no one "type" of freelancer. Some may choose the entrepreneurial lifestyle right from the beginning, while others may brave the corporate waters for years before taking the "leap."
So, no. Most freelancers don't freelance because they can't work, or can't find work, but rather because they are passionate about their freedom. They dream big dreams and work hard to make those a reality.
2. Entrepreneurs lack the work ethic to be diligent and see a "real job"through.
I think this misnomer comes from an apparent trend among entrepreneurs who suffer from a chronic inability to "last" in a corporate position. But, after many chats with other entrepreneurs and creatives a like, I have come to the conclusion that this is not the case, but simply a misplaced perception of an inability to accept a lack of freedom.
Entrepreneurs are driven by passion. Passion for what they do, who they are and what they want to accomplish. When placed in situations where that passion is questioned, suffocated and threatened we flee. It isn't a matter of seeing a position "through," but a matter of respecting the desires of our heart, and protecting the passion that fuels us.
3. You have to be passionate about sales to be a successful entrepreneur.
I know I have talked a lot about passion already, but I think that it is fitting to address this point next. Nearly all of the "corporate" friends that I spoke with brought up this point: "Do all entrepreneurs need to be passionate about sales in order to succeed?"
The answer is no--though they do all have to partake in the practice. Whether you are pitching a new client or pitching investors, every entrepreneur will face a "sales"-type interaction at some point or another.
There is a misconception in most business circles that aggressive, passionate entrepreneurs are like used car salesmen. Always hustling, enticing and pressuring those around them to buy-in to their new idea. Though those types of entrepreneurs do exist, those aren't the majority by a long shot.
4. Entrepreneurs are just nomads with a fancy title.
Nomads with a case of wanderlust--don't we wish! Being an entrepreneur requires more work, struggle, insecurity, time and energy than most full-time careers. There may be a higher concentration of hikers, bikers, surfers and creatives among us, but no nomads in our camp.
What drives this myth is often a jealous observation of freedom. When you build your own schedule, work on your own time and set your own pace you have more flexibility to make room for the things that keep you engaged.
5. To be an entrepreneur, you have to be willing to work 100+ hours a week.
It is a common fear among aspiring entrepreneurs that in order to succeed you have to sell your soul, time and passions just to make it through the first year. But, studies show that we work more effectively and efficiently when we are well rested and rejuvenated.
In order to succeed as an entrepreneur, you need to be able to balance the hustle and bustle of creating your future and taking time to enjoy your newfound freedom. For most, this looks like 30-40 hours a week of effective work, and plenty of rest and relaxation.
6. There are too many complicated pieces of business, no one "normal" can do it themselves.
I was guilty of believing this myth before jumping into full-time entrepreneurship. From taxes to structure--I had no idea where to begin. I felt lost, confused and terribly inadequate. But then I did it, and I realized that, like anything in life, the things that make entrepreneurship so intimidating are just unknown, not impossible.
Being an entrepreneur means pushing past your self-built boundaries and insecurities to embrace a fuller version of passion, freedom and success.
7. 90% of entrepreneurs fail.
It is true that 9 out of 10 startups fail. But, let's not confuse the company with the entrepreneur. This "90 percent of entrepreneurs fail," is a myth because in reality 100 percent of entrepreneurs fail--they just keep moving.
Someone once told me that before I took the leap into entrepreneurship I should have at least five good ideas that I wanted to pursue further as businesses. At the time, I though she was crazy. I mean, why did I need five when I had one great idea that I was passionate about? Well, about six months later when I couldn't even get my food blog-based business started--I understood.
Being an entrepreneur means being comfortable with failure. But more than that, it means always being willing to go back and start again. Like I said, the hustle is real.
8. There is no such thing as balance when you are an entrepreneur.
Balance is the key to success. A common misconception among non-entrepreneurs is that we never turn "off." Always selling, pushing, dreaming and never taking time to step away from our "jobs." But, this is not true. There is a balance. There is rest--it just doesn't look like what you are expecting.
Balance as an entrepreneur means taking time, or making time, to do what we love to do. I like to refer to this time as my "passion projects." For me, I make time to work on something completely unrelated to my business, but equally as fulfilling.
9. All entrepreneurs spend all their money trying to make their business work.
"I got my mind on my money and my money on my money," Snoop Dog (yes, that just happened). One of the most commonly cited misnomers regarding entrepreneurship is that it will run you dry financially. And, in some cases, it absolutely will--but not always.
Every type of entrepreneurship requires investment. Whether your time, money or energy (or a combination of all three), you will have to invest in order to make your business succeed. However, it doesn't always have to run you dry.
Depending on your business, structure and objectives, you may be able to successfully start a business as an entrepreneur without ever needing a business loan. From Angel Investors to low-overhead conceptualizations, not all entrepreneurs spend all of their money trying to make their business work.
10. I could never be an entrepreneur.
This point could easily be removed from the list. In fact, if you are thinking this right now, you may be right. Not everyone can succeed as an entrepreneur. The time, devotion and perseverance it takes is outside of the scope of what some are willing to invest.
However, I firmly believe that if you have an idea or passion that drives you, you can be an entrepreneur--in fact, you already are.
Being an entrepreneur is not an employment status. It is a way of life, an outlook or worldview. It isn't for everyone, but it just might be for you.
Ashley McAlpin, owner of McAlpin Creative