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4 Big Myths About Starting Your Own Company

4 Big Myths About Starting Your Own Company
Photograph by Gallery Stock

Entrepreneurship has become faddish of late, and business school students are not immune to the fervor. I have devoted more than 30 years to the study and practice of, and investment in, entrepreneurship, and here’s my advice: take a gimlet-eyed look at what the entrepreneurial life entails before you take the leap.

Entrepreneurship is almost never about working in flip-flops in an incubator; it is tough work that requires extraordinary effort. It is super full-time and super risky. In today’s tough job market, “doing a startup” may sound better than “unemployed,” “getting my third master’s degree,” or “staying with my folks awhile.” But entrepreneurship is for those who are laser-focused on building a company that will scale; it is a marathon, not a sprint, usually requiring a decade or longer of commitment.