Common Misconceptions Nigerians Have About Entrepreneurship

Nigerians respect entrepreneurs especially when they share their success stories. But, due to the way the society regard entrepreneurs and celebrate them, many people come up with misconceptions about entrepreneurs. The most common one is that entrepreneurs are like superhumans, they never sleep.

As a result of these misconceptions, some people choose not to be an entrepreneur. Here are five common misconceptions about entrepreneurs that Nigerians should know.

Entrepreneurs are meant to be successful

Many Nigerians believe that entrepreneurs must be successful in their field and every businessman should be prosperous in their respective industries. But the reality is something else. Many entrepreneurs have failed because the business world is filled with a whole bucket of challenges. Only persistent and tough-skin entrepreneurs can survive.

They have solutions for every problem

Entrepreneurs are not gods and they do not have the solution to every problem. Yes, they are experienced and knowledgeable but it goes overboard to consider them as having all the solution for each and every issue beyond their area of interest. Jumia, Nigeria’s no 1 shopping destination is known all over Africa as the go-to platform when it comes to eCommerce. It has introduced convenience to the homes of many Africans. This is a problem that Africans needed a solution for and for the past 6 years Jumia has been offering innovative solutions. What did the founders do? They identified a problem and provided innovative and creative solutions by leveraging on technology and the internet.

Quit your 9-5 to become an entrepreneur

Except your business has gained a lot of traction, it is advisable not to quit your 9-5 job. This is because you will be cash-strapped and have no money to finance your business. As an entrepreneur, the success of the business becomes part of your identity and you bring that with you wherever you go. The responsibility is massive, which is something many people are not prepared for.

You need to go to Business School

Business schools definitely will help you on your journey to becoming an entrepreneur. But it doesn’t make or break you. There are many entrepreneurs that did not go to business school but have excelled in business. This just goes to show that really anybody can succeed at being an entrepreneur with a lot of hard work. College and higher education are commonly seen as the only way to success. This is not the case. In today’s society, especially with the internet, with the right attitude and a lot of hard work, you can build anything that you want to.

You set your own hours

A lot of people believe being an entrepreneur means that their work schedule will be flexible. Instead, they get exactly the opposite. If you’re a committed entrepreneur, your business takes over your life, whether you like it or not. You’ll be working from the moment you wake up, to the time that you go to bed.