Busting the top 5 myths of entrepreneurship

In this week’s episode of ‘Now, that’s what I call business’, Ethique and Incrediballs founder Brianne West pulls back the curtain on the top five myths surrounding entrepreneurship.

Here’s a ChatGPT precis of her transcript for this week’s episode or listen here.  

Serial entrepreneur Brianne West, host of the podcast ‘Now, that's what I call business’, starts this week’s podcast by thanking her supporters, whom she affectionately calls “Ballers”. She shares updates on her latest venture, Incrediballs, which is moving forward with contracts signed and flavour options being explored, including blackcurrant and orange-pineapple.

One major development for Incrediballs is refining its branding to convey its multifaceted mission, which includes promoting fairtrade ingredients, reducing plastic waste and revolutionising the drinks industry. Brianne also discusses a slogan competition, where humorous and creative suggestions were made.

Brianne then shares her recent win at the Kea World Class New Zealand Awards, acknowledging that such awards represent a collective effort rather than individual success. She emphasises the importance of recognising the entire team's contribution.

She recounts attending the Icehouse Ventures Showcase, where entrepreneurs pitch their ideas to angel investors. She notes that successful pitches share three key elements: simplicity, passion and interactivity. These factors make investors more likely to support the venture.

Moving on to the top five entrepreneurship myths, Brianne debunks these misconceptions:

1. You need a lot of money to start a business: Brianne argues that many successful businesses start with minimal capital, suggesting alternative funding options like equity crowdfunding and small loans.
2. Entrepreneurship is a solo endeavour: She stresses the importance of building a team, having mentors, and maintaining a support network.
3. Overnight success is the norm: Brianne reminds listeners that hard work, grit and persistence are essential elements of entrepreneurship, and quick success is the exception, not the rule.
4. ‘Build it, and they will come’ mentality: She emphasises the need for understanding and catering to the customer, as well as effective marketing and customer acquisition strategies.
5. Failure is the end: Brianne encourages embracing failure as a learning opportunity rather than a reflection of one's worth. She believes that trying and failing is better than never trying at all.

In conclusion, Brianne shares her excitement for Incrediballs' future developments and invites her audience to be part of the journey. She reiterates the importance of feedback and community involvement. Despite the short episode, she hopes it provides entertainment, inspiration, or education, and promises to continue sharing the exciting journey of Incrediballs and her insights into entrepreneurship.

‍