6 Myths About Entrepreneurship. Myth 5/6 – “It’s only for rich white dudes.”

Jun 10, 2017

More myths about entrepreneurship…

Today’s myth dives a little deeper below the surface, “Entrepreneurship is only for rich white dudes.”

While it may not be outspoken directly (although often is), it can live under the surface of communities and in our minds as an old relic of colonialism.

It impacts our daily lives, the way we treat each other, care for each other and run our businesses.

And it impacts who can run businesses.

Fortunately, this study documented by Fortune Magazine in 2015 shows tremendous growth of non-white and non-male owned businesses (in traditional U.S. / white-person-originated business environments).

But if we pan our lense over to virtually any marginalized community on the planet, we find entrepreneurship as a long-standing way of life. We have much to learn from the hardy entrepreneurial spirit of many whose cultures precede the existence of the United States of America.

Breaking down this myth is exciting to me because it connects us to an ancient thread of entrepreneurship, which has everything to do with bravery, intelligence and community-vision.


As a “white dude” myself, and I encourage the same from my brothers and skin-color siblings, I’ve found it incredibly helpful for us to engage in difficult conversations and self-reflection about internalized racism, homophobia, genderism, transphobia, ableism and other forms of prejudice that we act on (especially in our businesses and communities).

We do a great service to the collective by engaging with, seeing through and helping dismantle this myth.

It’s always time.

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