The Entrepreneur Myth: Five Lies Keeping You Stuck
Our outdated image of what it means to own a business is costing millions of North Americans the future they deserve.
Say the word “entrepreneur” and most North Americans picture the same person. Young. Tech-savvy. Risk-loving. Maybe a college dropout working out of a garage with venture capital money and a dream of becoming the next billionaire.
That image is decades out of date. And it’s doing real damage.
Across North America, millions of experienced professionals are sitting in jobs that no longer serve them—stuck, stressed, and unsure what comes next. Many have thought about business ownership. But they never take the next step because they don’t see themselves in the story we tell about entrepreneurs.
It’s time to challenge that story. Here are five common lies about entrepreneurship—and the truth that could change your career.
Lie #1: You Have to Be Young to Succeed
This might be the most stubborn myth in business. We celebrate stories of twenty-something founders and assume that youth equals innovation. But the research says the opposite.
A landmark North American study by MIT, the U.S. Census Bureau, and the National Bureau of Economic Research analyzed 2.7 million business founders. The result? The average age of the most successful entrepreneurs was 45. A 50-year-old founder was 1.8 times more likely to build a top-growth company than a 30-year-old. Founders in their early twenties had the lowest success rates of all (Azoulay, Jones, Kim, Miranda, “Age and High-Growth Entrepreneurship,” American Economic Review, 2020).
The trend holds true on both sides of the border. In Canada, the number of people aged 55 and older starting businesses nearly tripled between 2000 and 2018 (Statistics Canada). In the U.S., 19% of adults are actively engaged in starting or running a new business—matching record highs (Global Entrepreneurship Monitor, 2024/2025).
The TES Generational Career Confidence Survey found that 83% of North Americans believe owning a business is a viable alternative to a traditional career. That belief holds strongest among those with the most experience: Millennials (87%), Gen X (85%), and Boomers (84%) (TES/Harris Poll, October 2025).
Your experience isn’t a liability. It’s your greatest competitive advantage.
Lie #2: Entrepreneurs Are Born Risk-Takers
Hollywood loves the fearless founder who bets it all on a bold idea. In reality, most successful business owners aren’t gamblers. They’re planners.
Across North America, the number one reason people start a business isn’t some thrill-seeking impulse. It’s a desire to be their own boss (28%), followed by dissatisfaction with corporate life (22%) (Guidant Financial, 2025). In Canada, about 90% of entrepreneurs report being professionally satisfied—not because the work is easy, but because it’s theirs (Made in CA / Statistics Canada, 2024).
The TES Generational Career Confidence Survey confirms this pattern. Four in five North American employees (80%) say that owning a business would give them more control over their career. Among Millennials, that number jumps to 86% (TES/Harris Poll, October 2025). What drives most people toward business ownership isn’t a love of risk. It’s a desire for control, stability, and the freedom to build something on their own terms.
Lie #3: You Need a Fortune to Get Started
Many North Americans assume that starting a business means draining your savings, taking on massive debt, or finding wealthy investors. While some businesses do require large amounts of capital, the landscape has changed dramatically.
In the U.S., 64% of small businesses start with $10,000 or less, and 78% rely on personal savings rather than investors or business credit (U.S. Small Business Administration, 2024). In Canada, 73% of self-employed professionals fund their businesses the same way—with personal savings, not venture capital or bank loans (BDC, February 2026). Across North America, the era of needing a fortune to launch is fading.
The real barrier isn’t money. According to Intuit QuickBooks’ 2026 Entrepreneurship Trends Report—which surveyed 3,000 adults in the U.S. and 1,500 in Canada—what holds most aspiring entrepreneurs back is a lack of confidence and clarity about how to start (QuickBooks, 2026). They don’t know what they don’t know. And that’s a problem a good guide can solve.
Lie #4: Only “Entrepreneurial Types” Can Own a Business
Research from King’s College London found that 86% of people describe themselves as “slightly or not at all entrepreneurial.” At the same time, 69% said entrepreneurs are important to economic growth (King’s Entrepreneurship Institute / YouGov). There’s a disconnect. People value what entrepreneurs do but don’t see themselves as one.
The stereotypes—that entrepreneurs are self-interested, ruthless, or born with some special gene—stop good people from exploring a path that could transform their lives. In Canada, about 59% of adults are interested in running their own business (Made in CA, 2024). In the U.S., about 40% of traditionally employed adults say it’s “somewhat likely” they’ll work for themselves within two years (NorthOne / GEM, 2025). And across North America, 34% of adults have already owned a business at some point (TES/Harris Poll, October 2025).
These are teachers, accountants, engineers, healthcare workers, and managers. They’re regular professionals who decided they wanted more from their careers. You need the right information, the right support, and the clarity to make a confident decision.
Lie #5: You Have to Figure It Out Alone
This may be the costliest lie of all. Most North Americans who think about Career Ownership never take the first step—not because the opportunity isn’t there, but because they don’t know where to begin. They search the internet, feel overwhelmed, and go back to the job that’s slowly burning them out.
They don’t need more information. They need a guide.
That’s exactly what a Career Ownership Coach® from The Entrepreneur’s Source® provides. Career Ownership Coaching
is a free, confidential process that helps you understand your goals, explore your options, and match your skills and lifestyle to business models that make sense for you. There is no sales pitch. No pressure. Just honest discovery with someone who has helped thousands of professionals across North America navigate this exact crossroads.
The TES Generational Career Confidence Survey found that 70% of North Americans believe business ownership provides more opportunities—including career stability and financial growth—than traditional jobs. Among Millennials, 79% feel this way. And 61% believe owning a business is the best protection against AI making their career obsolete.
These aren’t just statistics. These are millions of North Americans ready for something different. What they need is someone to walk beside them.
The Real Entrepreneur Looks a Lot Like You
The real entrepreneur in 2026 isn’t a twenty-year-old tech prodigy. It’s a 45-year-old professional with two decades of industry knowledge. It’s a parent who wants stability and flexibility. It’s someone who’s been passed over, burned out, or boxed in—and who’s ready to bet on themselves instead of a broken system.
Among business owners surveyed in the TES Generational Career Confidence Survey, 41% said starting their own business improved their confidence. For Gen X owners, that number was 54%. And nearly a third (32%) said a toxic work environment motivated them to start their business in the first place.
For more than 40 years, The Entrepreneur’s Source® has helped tens of thousands of North Americans see past the myths and find a career path they control. Not by pushing them toward a decision—but by helping them see what’s possible.
If you’ve ever thought, “I’m not the entrepreneur type,” it might be time to challenge that story.
Start your free, confidential Career Ownership Coaching conversation today.
#YourCareerRevolution #CareerOwnershipCoach #CareerOwnership
Sources
- Azoulay, P., Jones, B.F., Kim, J.D., Miranda, J. “Age and High-Growth Entrepreneurship.” American Economic Review, 2020. Based on U.S. Census Bureau data analyzing 2.7 million founders (2007–2014). Also reported in Harvard Business Review, July 2018.
- The Entrepreneur’s Source® / The Harris Poll, TES Generational Career Confidence Survey, October 8–10, 2025 (national online survey of 2,087 U.S. adults).
- Business Development Bank of Canada (BDC), “The Entrepreneurial Spark of Canada’s Self-Employed,” February 2026 (survey of 851 self-employed workers and 654 micro-business owners).
- Global Entrepreneurship Monitor (GEM), 2024/2025 Global Report.
- Made in CA / Statistics Canada, “Entrepreneur Statistics in Canada,” 2024.
- Guidant Financial, “Small Business Trends” Survey, 2025.
- U.S. Bureau of Labor Statistics, Business Employment Dynamics, 2024.
- U.S. Small Business Administration, Small Business Profiles, 2024.
- Innovation, Science and Economic Development Canada, Key Small Business Statistics, 2025.
- King’s College London / YouGov, King’s Entrepreneurship Institute Survey on Entrepreneur Stereotypes, 2020.
- Intuit QuickBooks, “2026 Entrepreneurship Trends: Business Intent, Money Barriers & AI Tools,” December 2025 (survey of 3,000 U.S. adults and 1,500 adults each in Canada, UK, and Australia).
- NorthOne / Global Entrepreneurship Monitor, Entrepreneur Statistics, 2025.
About Your Career Revolution
Our mission is to help individuals explore self-sufficiency as an alternative career.
We help them define their Income, Lifestyle, Wealth, and Equity goals and provide education on the best ways to achieve them. We don’t sell franchises – we help people achieve their dreams of self-sufficiency through business ownership. The approach is different, the experience is different. And it works.
Order on AMAZON
Learn More About Career Ownership Coaching
If you are considering a career change, invest in yourself to discover your options, possibilities, and dreams. Chat with one of our coaches to begin your career revolution. To learn more about Career Ownership Coaching, visit www.entrepreneursource.com or check out our guidebook, “Your Career Revolution: Reimagine and Reclaim the Life of Your Dreams.”
Watch Episodes on YouTube or Listen as a Podcast and more!
The post “Not the entrepreneur type”? first appeared on The Entrepreneur’s Source.
