This article might be a bit controversial for all self-starters out there and self-made entrepreneurs, and it might bruise an ego or two. But fair warning, no entrepreneur really did it all by themselves. The title “self-made entrepreneur” is a myth, and I will tell you why.
The self-made title is a badge of honor for most entrepreneurs. Many see it as the mark of success. Against all odds, you’ve created a service or product that distinguishes you from your competition. Now is the time to give yourself a pat on the back. After all, you did it by yourself, or did you?
The tag of being self-made is a myth. Nevertheless, this is not to say you haven’t put in tremendous work to actualize your entrepreneurship goals. But entrepreneurship success is dependent on experiences, opportunities, guidance, interacting with other people, and so on. I will be presenting some reasons why the self-made entrepreneur is a myth.
As an entrepreneur, you are either rendering a service or offering a product. In as much as you singlehandedly came up with the idea for your service or product, without any input from people, you would still require an avenue to share service or products with people that are willing to pay for it. Such avenues could be as little as having someone point you in the direction of decision-makers or mentioning your name to an investor. Whether that avenue came by chance or was paid for, someone took a chance with you.
Knowledge is power. Getting the right information or insight can make or mar your entrepreneurial dreams even before you get started. This is the reason why successful entrepreneurs have teachers, coaches, and mentors they turn to at different parts of their journey. Education is diverse, and it takes different shapes and forms. From traditional classroom methods to one-on-one mentoring experience, each form of education is a path to knowledge. What education means is that you are dependent on someone else’s knowledge and experience in order to know the what, when, how, and why of your given endeavor.
Relationships are a key part of any entrepreneurial success story. The difference between making progress or remaining stagnant could be as little as having an acquaintance. Remember mentioned that someone mentions your business to an investor. But here is the catch. The one thing that would propel that person to mention your name in the first place is the relationship you build with them. Relationships are the foundation of entrepreneurial success. Relationships happen everywhere; with clients, staff, investors, friends, family, and so on. The relationships you build can help you both in the short and long run.
Investors either help you start your business or scale-up. The major challenge most entrepreneurs face is investing. Without the right investment, you will have to bear the bill for all aspects of your business. Unless you are wealthy, you would have to rely on the funds of others to get your business to the desired level.
The success of a business is measured by its revenue and profits. Put simply, customers bring the money. One of the reasons why you are an entrepreneur is because of the customers. No business can exist without customers. Even if you’ve been able to build yourself up singlehandedly, you will need customers to reach a level of success. The success of your venture is directly proportional to the number of people who purchase and trust your product or service.
The idea of a self-made entrepreneur is a myth because success is not an island. You will depend on people one way or the other.