Series: From Employee to Entrepreneur : Part 2: The Myths That Stop You from Starting Why Most Employees Never Become Entrepreneurs

Series: From Employee to Entrepreneur

Part 2

The Myths That Stop You from Starting

Why Most Employees Never Become Entrepreneurs

Hanif Lakdawala | For Business Magazine –

“Most businesses don’t fail at launch.
They fail in the mind—long before anyone even starts.”

Every year, millions of employees fantasize about becoming entrepreneurs. But most never take the leap. Not because they lack ideas. Not because they lack skills. But because they are held back by invisible chains: myths.

These myths are so deeply rooted in our culture, family systems, and workplace environments that they feel like facts. But once challenged, they collapse—and in their place, a new entrepreneurial mindset can emerge.

This feature exposes the most dangerous myths that stop talented professionals from turning their start-up dreams into reality—and replaces each with facts, data, and real-world wisdom.

Myth. 1: "You Need a Lot of Money to Start a Business"

Many people assume entrepreneurship requires a big bank balance or funding from investors. This belief kills ideas before they begin. In reality, the majority of businesses—especially in the digital and services space—can start lean and small.

Reality Check:

• According to the Startup India Initiative (2022), 42% of Indian start-ups launched with under ₹1 lakh.

· With lean start-up methods, MVPs (Minimum Viable Products), and digital-first business models, you can test ideas with little to no upfront investment. Think freelance consulting, digital products, drop shipping, or service-based offerings.

Key Insight: Today, knowledge, execution, and creativity matter more than capital.

Myth. 2: "You Must Quit Your Job First"

One of the most persistent myths is the "all or nothing" approach: the idea that you must resign from your job to be taken seriously as an entrepreneur.

Reality Check:

• A Harvard Business School study (2020) found that entrepreneurs who kept their job while launching were 33% less likely to fail than those who quit immediately.

• Many of India’s successful startups—like Zoho, Razorpay, and YourStory—were side hustles before they scaled.

Start small. Start smart. Don’t start unemployed.

Myth. 3: "You Need an MBA or Business Background"

The myth of the "qualified founder" still dominates corporate culture. But in truth, the startup world rewards doers, not degree holders.

Reality Check:

• A TiE-Zinnov Report (2021) found that 65% of Indian start-up founders had no formal business education.

• Examples:

  • Bhavish Aggarwal (Ola) – Computer Science background

  • Kunal Shah (CRED) – B.A Philosophy

  • Ghazal Alagh (Mamaearth) – BCA, Punjab University, not MBA

Myth. 4: "The Market Is Already Saturated"

Many would-be entrepreneurs get discouraged by competition. They believe “everything is already being done.” But competition often signals demand.

Reality Check:

• According to Statista (2024), India will have over 900 million internet users by 2025.

• E-commerce penetration is still below 10% of total retail—meaning huge headroom still exists in digital-first businesses.

• Niches and micro-brands (perfumes, ethnic jewellery, regional food) are thriving because they serve specific audiences, not everyone.

It’s not about being the only one. It’s about being the only one who serves a specific customer well.

Myth. 5: "Failure Is Too Risky to Try"

Fear of failure stops more people than failure itself ever will. The imagined cost of failing—losing money, losing respect, or disappointing others—feels unbearable.

Reality Check:

• A LinkedIn India Survey (2023) revealed that 71% of Indian professionals dream of starting a business, but fear of financial instability and failure hold them back.

• Yet, most successful entrepreneurs failed in early attempts—and learned more from failures than successes.

• Even if a venture fails, the experience builds transferable skills—marketing, budgeting, negotiation—that increase employability and confidence.

Failure in entrepreneurship isn’t a dead end. It’s a detour with better views.

Myth. 6: I Don’t Have the Right Personality for Business

You don’t need to be loud, extroverted, or a “born leader” to succeed. Businesses today thrive on authenticity, execution, and trust-building—skills anyone can develop. Whether you're analytical, creative, empathetic, or introverted, there is a business model suited for your strengths.

A 2019 University of California study found no correlation between personality type and start-up success—but a high correlation with consistency and problem-solving ability.

Why These Myths Exist

These myths survive because:

• We are conditioned to seek safety over growth

• Our schools teach us to obey, not create

• Society often glorifies jobs over innovation

• Media showcases only the overnight success stories—not the years of slow building

Breaking these myths starts with exposure to a new narrative—one backed by facts, real journeys, and data.

Conclusion: Myths are Mental Blocks—Not Real Barriers

If you’re an employee dreaming of entrepreneurship, it’s time to stop waiting and start questioning the story you’ve been told. You don’t need to jump off a cliff. You need to take the first step with clarity.

Every myth is a story dressed as logic. And stories can be rewritten.

This article is your invitation to stop letting these myths run your mental narrative. In the next part of our series, we’ll showcase real stories of individuals who broke free from jobs and built businesses—without money, degrees, or perfect timing.

Remember:
You don’t have to be ready. You have to be willing.