Before we begin, the BIGGEST myth of them all is that… entrepreneurship does NOT mean you own a business!
Entrepreneurship is simply “exploiting opportunities (to serve) without regard to resources currently controlled.” We make this distinction in all our teachings- and the only place Harvard and i differ (but its huge) are those two words I put in parentheses. If you want to start a business that will last, if you want financial freedom: SOLVE. A. Problem. Your only job security is to make yourself irreplaceable. The easiest way to become successful is to make yourself valuable.
1. To Be A Successful Entrepreneur You Must Invent Something Truly Novel. Wrong, but I doubt facts will stop achievement-obsessed upper-class parents from building “replica garages” for their kids’ play dates, to instill in them whatever made Hewlett & Packard and Jobs & Wozniak do what they did. Big Error! Why? Ask yourself what Sir Richard Branson invented, then remind yourself that Ted Turner didn’t invent TV news, all he did was perfect it and disseminate it (via CNN) brilliantly.
Entrepreneurs who build better mousetraps are the exception, not the rule. Most business builders look at the world, see things that can be improved upon, break the mold, and add value. They prod, poke, and push paradigms, infinitely more often than they cause cataclysmic shifts. Take the crème-filled cookie, now 100 years old: Everyone thinks that Oreo invented it because it dominates the market niche. Nope, it was Hydrox. Oreo was a Johnnie-come-lately to the game – but owing to better marketing and, some claim, a better recipe, Oreo now owns the space.