Every one of us is dreaming of becoming our own boss these days. Some of us want to become an entrepreneur while some want to become a freelancer. In one of the recent reports, it was represented that around 86.5 million people will be working as a freelancer in the United States by 2027 which simply means that almost 50% of the total U.S. workforce will opt for freelancing. 

While other Statista reports represent that more than 774,725 businesses in the United States were having a life span of less than one year, which simply means they are just in the startup phase. Many people these days are looking forward to establishing their own brand to become one boss, but there are certain myths and misconceptions about freelancing and entrepreneurship in mind that most of the people need to be avoided, this can help them to make a more perfect decision about their future.

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Some of the Common Myths Which Need to Be Avoided 

In today’s Gig economy, it’s quite important for all of us to earn some extra income for our livelihood. We can adopt various ways to become earn some extra penny. We can even start working as a freelancer or can start our side business by opting in various ways. The Internet has opened various opportunities for us, thus almost 55% of a freelancer and other 30% of people are preparing themselves for the future by preparing themselves by accessing important information they want to explore. (Source)

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In this internet era, it’s sure that the number of freelance workers will be higher than the traditional salaried employees. A recent study by UpWork represents that more than 57 million Americans performed some sort of freelancing during 2017 to earn an extra penny for their livelihood. And it comes to becoming a business owner then there are certain phenomena which need to be considered, these phenomena can include understanding employee’s needs, managing a resource, and much more. 

Even though freelancing and Entrepreneurship are soaring in popularity, there are numerous myths surrounding this kind of work even today. Both types of working are eclipsing the employment norm; however, some of the myths which are surrounding it are so skeptical. So, whether it comes to freelancing or entrepreneurship, there are the top seven myths that aren’t true. Thus explore the below list to know which are those ones. 

Myth 1: You Can Have Freedom in the Schedule in Freelancing and Entrepreneurship 

When you just start as a freelancer or as a business entrepreneur, it’s sure that you need to put some extra to grab the work and earn extra profit from the same. But when you get enough work or your business is established perfectly then, you can get normal and can have some relaxation. 

When your own boss, then it’s sure that you get the freedom to work some more hours than that which any of the individual salaried employees get. But you need to learn to manage all the work and stand on the deadlines, if as a freelancer or business entrepreneurs if you fail to meet the deadlines, then it’s sure that you will fail badly in your chosen field. 

Myth 2: Entrepreneurship is Quite Risky Then Freelancing Work 

There is a big myth that entrepreneurship is a risk, and freelancing is not, but everyone has to understand that there is an equal risk in both. Most of the time, there is a huge chance of fraud when it comes to freelancing, some of the freelancers had experienced frauds even when they gave their best and work efficiently for the particular person. While entrepreneurs take a huge risk by investing a huge penny in the market without analyzing it properly. 

But this risk can be reduced, entrepreneurs need to make sure that they invest in a particular field only after analyzing the market perfectly. While freelancers need to take work only from the trust sources, they must avoid taking work from those ones who are unknown to them, they can use some of the well-known websites such as Upwork, freelancer, pay per hour, or any other to find the work. 

Myth 3: You Need Huge Funding to Becomes Your Own Boss 

Many believe that they need huge funding to start their own business, but they need to understand that they can even start with little funding. Any of the individuals who want to start their business can go online by developing a mobile app and can manage their whole business from one place, even they can expand their business online in no time by investing in advance app solutions they want. And when it comes to freelancing, then it’s sure that not a single penny needs to invest, just the freelancer needs to find the best source to get the work and earn an extra penny. 

Myth 4: Freelancer or Entrepreneur Needs to Be Smart Enough 

Any of the entrepreneurs or freelancers cannot be picture-perfect. But many of people think that if they want to become their own boss, then they need to possess expertise in all senses. But they need to understand that not a single successful business entrepreneur is not a rocket scientist all are individual people like us and me. 

They also have started as a small business and then have expanded their business to a large extent, they always kept learning attitude and learned from their mistakes and bagged the massive success in their field. Thus if you are thinking of becoming your own boss, then it will be advisable for you to come up from the myth that you need to be smart enough to become an entrepreneur or freelancer. 

Myth 5: It’s Hard to Become a Freelancer or Business Entrepreneur

Becoming a freelancer or business entrepreneur is surely a time-consuming task, but it is not hard as predicted. Efforts done in the right direction or in the right way can help to leverage fruit of success in the desired field. Thus make sure that you make the right efforts to grab the desired outcomes after being your own boss. 

Remember that there is no way for the tedium. Once you establish your business on a small scale, then you can start hiring other people and can distribute tasks among them. But at the initial level, you need to do all the grunting, it might sound time-consuming and boring when you start working, but once you get adapted to it, then it’s sure that you can achieve the result you want. 

Myth 6: Freelancer or Entrepreneurs Get Motivated by the Money  

There is no doubt that entrepreneurs start their business to make a profit from it, but it’s completely wrong that they get motivated by the money. Freelancers, as well as entrepreneurs, do not get motivated by money, they get motivated when they get the control and flexibility of doing their work as they prefer to do all the work as per their convenience. 

More than 75% of employees feel that their bosses don’t keep the team motivated, thus they aim to become their own boss. And when they become their own boss then they will not only get the flexibility to perform any of the work as per their convenience but you will also get a legacy which plays a very important role when it comes to motivation. 

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Myth 7: Need to Have a Unique Idea to Start Business

Some people may fail to start their own business because they think that they must have a unique idea to rush into the business market. But they need to understand that there is nothing wrong with using someone else’s idea to make money. They can use any existing business idea, and with little twist and turns can use it to start their business. For example: if any of the individuals want to start a ride-hailing business, then they can develop an app like uber and can start providing their service to the riders whenever they demand. 

Ending Note

We have entered a completely new generation world where each and every individual wants to become their own boss. If you ask any of the people in the present era what they want to do, then they will surely reply that they want to be ‘self-employed’ or want to become the owner of ‘small business’. Developing and running a business is no doubt, a brilliant aspiration. But it will be better for you to explore all the options before finalizing which business to start. 

You can opt for entrepreneurship or freelancing to become your own boss. But before choosing any of the profession, make sure that you explore all the advantages and disadvantages of the same. Never struck yourself in any of the myths, clear all your doubts before moving to any of the decisions about your life.