MONEY Workplace

These 5 Myths Keep Women From Starting Small Businesses

woman working on jewelry in shop
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Never sabotage your own success.

Deborah Sweeney owns a small business that helps launch other small businesses. She’s noticed an interesting trend in the last five years: Her clientele has changed from 10% women to 25%.

It would be more, says Sweeney, whose MyCorporation.com helps entrepreneurs deal with paperwork and legal hurdles, except for what she says are misconceptions that keep women out of the small-business world.

Women playing a bigger role in small businesses is no longer big news, of course. In 2014, there were roughly 9 million women-owned businesses in the U.S., employing nearly 8 million workers and recording nearly $1.4 trillion in sales that year, according to data from the National Association of Women Business Owners.

But Sweeney thinks more women would give entrepreneurship a shot if not for these five major myths:

1. It’s impossible for a woman to succeed as an entrepreneur.

When she tells people that she runs her own small business, Sweeney says, they assume she’s talking about something, well, small. They don’t imagine her being at the helm of a company that posts nearly $9 million in annual revenue.

“Oh, are you doing that out of your garage?” is a common question she’s asked, she says.

Some people just assume that when you’re a female small-business owner, you’re “making beaded necklaces or making nursing products for children,” she tells NerdWallet.

In Sweeney’s case, the false assumptions can be comically sexist.

Her husband, Tor, is also a small-business owner, and she says it’s not unusual for people to ask “if we work together at my business.”

People “have this mindset that I would not run it alone,” she says, “that I am a business owner, in essence, because I married a man who is a business owner. It’s funny.”

Coincidentally, Tor Sweeney’s company is called Dresses.com. It’s a clothing manufacturer that makes prom dresses and wedding dresses.

And yes, she says, people often also ask if she owns that company, not MyCorporation.com.

2. Women just aren’t as entrepreneurial as men.

“Women have a difficult time conceptualizing for themselves what entrepreneurship is about,” Sweeney says.

That’s because they don’t have enough role models, she says. Sweeney has met young women who say they want to be entrepreneurs but eventually pivot to another career, working for a company.

Sweeney notes that many of the women coming to MyCorporation.com are venturing into entrepreneurship for the first time, whereas many of the men are serial entrepreneurs who have used her company’s services multiple times.

3. Women don’t achieve as much success as entrepreneurs as they do in the corporate world.

Facebook executive Sheryl Sandberg sparked a national discussion in 2013 on how women can reach their goals in corporate America with the release of her best-selling book, “Lean In.”

“Many women who ‘lean in’ can be successful,” Sweeney says. “That’s what they want. I wanted more. I wanted not to have to hire a nanny to be with my kids. The way I could do that was to run my own business.”

Besides, she says, she simply was not happy in the corporate world. “You can be extremely successful, but I was going crazy,” she says. “You can forge your own path as an entrepreneurial woman,” and “compete on your own playing field.”

“I always say ‘reach up’ instead of ‘lean in,’” she says.

4. Running a small business is more time consuming than working in the corporate world.

Most people assume running your own business means working outrageously long hours. For female entrepreneurs, that has typically meant added pressure, given the traditional, if outdated, roles they’re often expected to play in the home.

But outrageous hours are another misconception, Sweeney says. She quit a corporate job six years ago to become an entrepreneur and says it “actually presents a fabulous opportunity” for achieving a better work-life balance.

For one thing, she stresses, “you’re not mandated by corporate America to work certain hours.”

5. Your children and family will suffer because of your small business.

Her work certainly keeps her busy, and she admits “you never stop thinking about your business when you’re a business owner.”

There are certain things she’s not able to do with and for her two sons. “We don’t do play dates in the afternoon,” she says.

But being a small-business owner has made her a more effective parent, she says.

“Some say, ‘I can never be an entrepreneur as a mom.’ And I say, ‘It has given me flexibility.’ You can find the right balance when you’re the master of your own destiny.”

Yes, her schedule can get hectic. “At 2 p.m., I run and pick my kids up and take them to work with me,” she says.

But that’s been good for her children, she says. When they’re with their friends, she says, “I hear them talk, ‘There’s my mom’s office and she has 30 employees.’”

“There’s something about engaging your family in your career,” Sweeney says. “They see an example of work ethic and believe in it.”

More From NerdWallet:

MONEY Kids and Money

Shark Tank for Kids: This Game Delivers the American Dream

A cattleman from Peoria, IL gets a second chance to show the Sharks what he's learned about his gourmet meat business since his Season 4 visit to the Tank.
Kelsey McNeal—ABC

Educators are using reality TV as a model for teaching kids about money. Here's why it works.

As part of his middle school history and civics classes, James Kindle incorporates a segment on money. He calls it Shark Tank after the popular TV show, and while the idea is to introduce personal financial concepts and entrepreneurship what Kindle believes he really teaches is how to achieve the American dream.

Just like the competitors in the TV show, Kindle’s students must come up with a business idea, write a proposal, and pitch the concept to teacher “investors.” He’s a pretty good pitchman himself. Bringing financial education alive through his Shark Tank program at Sullivan Community School in Minneapolis, Minn., earned Kindle first place in the PwC Financial Literacy Innovation Challenge and a $50,000 prize for his school.

“I want to give my students a taste of this dream, while teaching persuasive language, entrepreneurship, and financial literacy skills,” Kindle wrote in a request for funding. In an email, he added “while it might be awhile before my students are meeting with investors and venture capitalists to fund their business ideas, it won’t be long until they are presenting at science and history fairs, competing in speech and debate, or meeting with college admissions officers.” So his program teaches presentation skills, too.

As one of the judges in the PwC Charitable Foundation contest, I can say that what resonates in Kindle’s program is the game-based approach to a difficult subject, along with the infusion of popular culture to make the experience relevant. These were common traits of all top finishers. The results suggest to both parents and educators that they would do well to keep the principles of fun, hands-on, and timely instruction in mind when trying to teach young people about money.

Second place went to a history and civics class at Lawrence County High School in Moulton, Ala., where they play Biggest Loser, also modeled after a popular TV show. Students visit “exercise stations” where they choose a loan or credit card or make some other decision to help them lose “weight” (debt). Who knew reality TV could serve a purpose? Other finalist programs were organized around things like how much various careers pay, and everyday saving and spending decisions.

“Mr. Kindle’s Shark Tank lesson bases financial literacy around core values and behaviors versus facts and figures in order to teach skills like persuasion, negotiation and ownership,” says Shannon Schuyler, PwC corporate responsibility leader. “The idea was contagious, authentic and, most importantly, fun.”

Interestingly, this contest’s winners are taking bows even as educators around the country wrestle with the role of play in learning. With today’s focus on formal education, kids are being asked at earlier and earlier ages to put away the blocks and listen to their teachers lecture. Yet some researchers say this “head start” may backfire. Rebecca Marcon, a psychology professor at the University of North Florida, found that pre-school students allowed to learn through play earned significantly higher grades in the third and fourth grade. With financial education, especially, most experts agree that a game-based approach works best.

One study found that when good instruction is paired with high-quality digital games there is a 12% jump in cognitive learning outcomes. The game-oriented H&R Block Budget Challenge has produced evidence that this type of learning significantly improves financial know-how. Says Kindle: “Using games always increases student engagement. An activity that seems mind-numbingly boring, when slightly twisted into a game, suddenly becomes thrilling.”

Relevance and timeliness are also important. Modeling programs after Shark Tank and Biggest Loser gave students an instant touchstone. At home, parents trying to make a financial point might choose an opportune moment—perhaps when their teen is getting an iPhone upgrade, which means more to them than the incremental cost of your adjustable-rate mortgage as bond yields tick higher.

Understanding personal finance isn’t just a way to make ends meet. As the enterprising middle school teacher from Minneapolis might say, it’s how you achieve the American dream.

Read next: Kids and Money: The Search for What Really Works

TIME Startups

These Are the Best Cities to Launch a Business in the U.S.

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From Memphis to Tulsa

When you think of the prime place to start a business, what springs to mind? If it has the word “Silicon” in front of it, the findings of a new study from Washington, D.C.-based personal finance platform WalletHub may surprise you.

The survey took a look at the 150 biggest cities in the United States to figure out where new companies were most likely to succeed and where they were most likely to fail. The city of Shreveport, La., came out on top, while Newark, N.J., came in at the bottom.

The cities were ranked based on their business environment and access to resources. WalletHub and 13 professors of business from colleges and universities across the country used a methodology system of 13 points, which included the cost of office space, employee availability, annual income, taxes, cost of living, the education level of the population and the number of small businesses per capita, among others.

If you’re looking for the least expensive office space, you might want to look into Toledo, Ohio. Meanwhile, Salt Lake City was found to have the most accessible financing and you’ll find the highest employee availability (the number of open positions minus the number of out of work residents) in Fresno, Calif.

For more information, check out the full list over at WalletHub.

Best Cities to Start a Business Worst Cities to Start a Business
1. Shreveport, LA
2. Tulsa, OK
3. Springfield, MO
4. Chattanooga, TN
5. Jackson, MS
6. Sioux Falls, SD
7. Memphis, TN
8. Augusta, GA
9. Greensboro, NC
10. Columbus, GA
141. Anaheim, CA
142. San Jose, CA
143. Santa Ana, CA
144. Oakland, CA
145. Ontario, CA
146. Fremont, CA
147. Yonkers, NY
148. Garden Grove, CA
149. Jersey City, NJ
150. Newark, NJ

This article originally appeared on Entrepreneur.com.

More from Entrepreneur.com:

TIME Careers & Workplace

7 Things You Can Do to Impress Your Boss

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Propose solutions

Working at a startup is worlds different from a corporate job. As your team navigates the uncharted waters of industry disruption in a bootstrapped-vessel, with big dreams and a small bank account, the expectations of your supervisor has may seem unrealistic at times. Structures of support might not yet be in place, and resources scarce. And yet, you face higher scrutiny because the stakes are higher.

Most of these pressures aren’t solved by possessing a single technical skill. In fact, much of what separates a good startup employee and a great one comes down to emotional intelligence. Here are seven ways to impress your boss at a startup:

Make them irrelevant

As the company grows, even the broadest role will become more specialized in time. Your manager wants to see you own responsibilities and run with them. This frees up their time to think about the bigger picture while advancing you professionally. What are you doing to take on more and see your skills point upward?

Manage up

Your boss might not be the most experienced manager, or their management cycles may be diluted by having to execute themselves. Be allies in your growth. Share in the responsibility of managing you by communicating what you need. Do you want to discuss your performance, or future with the company? Initiate the conversation yourself.

Propose solutions

No one likes it when someone drops a problem in their lap, expecting them to do the work. The counterexample to this is the person who won’t address challenges until they become catastrophes. Make sure you are neither of these people.

Grow yourself and others

Working at a startup, your learning curve is bound to be formidable, and the needs of the company constantly in flux. At Startup Institute, this one is a must—commit to your own growth and catalyze this in others.

Adapt easily to change

The concept of wearing multiple hats doesn’t always mean doing so concurrently. Over time, changes in team, product roadmap, or external circumstances will change your role. Your ability to adapt and remain high-impact through different organizational structures and industry landscapes will have a direct correlation with how long you last at a startup.

Be optimistic and audacious

On the roller coaster ride of startups, do you clench your eyes shut and beg it to end safely, or do you throw your hands up in the air, channelling the fear into courage? Startup work is challenging and risky, and often an uphill climb. Maintaining your positivity and can-do attitude is key to culture and success.

Fight nice

Growth only occurs under stress, and the interpersonal version of stress is conflict. It’s unavoidable in startups, but how well you embrace and harness conflict to resolution and greater outcomes make all the difference.

Startup work is not for the faint-of-heart. It takes true dedication, initiative, and passion to meet the expectations that your company leadership has of you. But then again, if you really are cut-out for it, these are probably not far-off from the expectations you have of yourself.

This article originally appeared on Startup Institute.

TIME Careers & Workplace

Why You Should Start More Than One Business

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Because one company is not enough

There are two types of entrepreneurs: Those who start one company and those who start lots of companies.

Those who start lots of companies like to describe themselves as “serial entrepreneurs,” which may or may not be slightly fatuous. Those who start just one company may think of themselves as “business owners” once the thrill of the entrepreneurial journey has ebbed.

If you’ve started one company, you can do it again. And you probably should. One company is not enough.

I will explain why.

Starting multiple businesses guarantees that life will never be boring.

Let’s face it. Entrepreneurship is a rush. Whereas most people get into business to make a living, I find that a life worth living includes starting businesses.

After having started a few, I want to start more. Running a business is exciting in its own right, and I continue to do so on a daily basis. Starting them, however, has a set of unique challenges and thrills.

Keep starting companies and you’ll never live another boring day in your life.

Multiple businesses can provide financial security.

If excitement isn’t your thing, then maybe financial security is more palatable.

According to CrunchBase, the average successful U.S. startup raises $41 million and exits with $242 million. Notice, however, that is only successful startups. For every one successful startup, there are as many as nine unsuccessful startups. Angel.co puts the average valuation of their startup list (not all successful) at $4.3 million.

Not every startup turns out like Apple ($590 billion valuation), Facebook ($200 billion valuation), Airbnb or Uber. Those companies are the rare exceptions, not the general rule. If you want to sit on a future mountain of cash, you may have to start more than one company.

Starting multiple businesses allows you to stay fresh.

Every time you start a new company, you learn something new.

In my entrepreneurial pursuits, I’ve launched businesses in industries that I knew nothing about going into. Learning is half the fun of doing, and keeps your mind sharp and your skills fresh.

Not starting another business is a waste of your personal experience.

One of the worst things that you can do with your experience is to let it waste away. Experience is meant to be used, shared and acted upon — not stifled.

When you have the experience of starting a successful company (or an unsuccessful company, for that matter), you can turn around and use that experience to do it again. Or, you can use that experience to teach others how to do it.

Experience is one of the most valuable takeaways from founding a company.

Starting a business creates a valuable network that makes it easier to start another company.

Another valuable entrepreneurial asset is your personal network. When you start a company, you meet investors, advisors, other entrepreneurs, vendors, service providers and other people who help to grow a business.

These relationships are highly valuable. They enrich you personally and they allow you to create the platform upon which to build more companies.

Starting a network from scratch is tough. The game of who-do-you-know-that-I-can-meet gets old fast. Owning such a network, however, has value that goes way beyond money.

Starting more businesses gives you exponentially more influence.

Revenue isn’t the only thing that grows bigger with more businesses. Your influence grows, too.

Serial entrepreneurs don’t remain out of the limelight long. Because of their experience, they are called upon to share their experience, speak at conferences, participate in panels, provide interviews, and write blogs.

Such influence can be exhausting, but it’s also rewarding. Influence is part of your personal brand, which you can then leverage to earn even more.

The more businesses you start, the better you become.

The first time you do anything, you’re barely hanging on. The second time you do it, you get a little bit better. The third time, you’re starting to develop confidence. The fourth and fifth time, you feel like you’re getting the hang of it.

This is true for starting businesses, too. With every new business, you’re building on knowledge, brand visibility, marketing experience, and other resources, creating a business that is even better than the one before.

Why would you do it only once when you can get better with each successive attempt?

You can build every successive business faster than the one before.

Everything about building a business takes time — funding, marketing, development, research, strategizing, etc.

These time-consuming activities become easier and quicker every time you do it. You can spend less time finding VCs, writing proposals, searching for vendors, hiring developers, developing a marketing plan or researching your target market.

Each new attempt goes quicker, meaning that you can launch a successful business in just a fraction of the time. Starting only one seems like a definite lack of strategy.

Some warnings on serial entrepreneurship.

Starting lots of businesses is every bit as exciting as I’ve indicated. That being said, you need to keep in mind that there are risks, disappointments and stressors. Let me provide a few disclaimers.

  • Beware when starting any business. To be an entrepreneur is to take risk. To live life in general is to have risk. Based on my experience and disposition, I tend to think that to be an entrepreneur is to take less risk than, say, giving your life and livelihood to work for someone else’s company. Entrepreneurship has its own sets of risks.
  • You don’t have to break up with your old business. When you start a business, you become deeply invested in its success and future. When you start a new company, you aren’t neglecting the old one. You can still run it, coach it, advise it and profit from it.
  • Take a break between businesses. Even though starting businesses is fun, you’ll benefit more if you unplug now and then. I suggest taking a nice, long break between business ventures. You’ve earned it.

Conclusion

The more you start, the better you get. Launching a single business is only the start of a promising and successful future as a serial entrepreneur.

If you’ve started one business, good for you. Now, go and do it again.

This article originally appeared on Entrepreneur.com.

More from Entrepreneur.com:

Read next: The Amazingly Simple Way to Be More Productive at Work

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TIME Careers & Workplace

10 Networking Tips for Entrepreneurs in Between Jobs

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Making a positive impression at networking events is all in how you position yourself

startupcollective

Question: I am an entrepreneur in between companies. How can I succinctly explain this in networking situations?

Explain a Positive Past, Optimistic Future

“In one sentence, explain a positive portrayal of your past experience. Transition to one sentence on what you look forward to doing in the future or what opportunities you’re seeking. It’s always important to keep it light and positive.” — Darrah Brustein, Network Under 40 / Finance Whiz Kids

Appear Goal-Oriented

“Even if you haven’t solidified your next move yet, prepare a few concrete business or personal development goals that you can rattle off when attending networking events. Basically, you want to sound like you know what you’re doing. The last thing you want is to appear like you are simply drifting from one company to the next.” — Alexandra Levit, Inspiration at Work

Say You’re Looking for Your Next Venture

“The phrase “looking for your next venture” implies a previous venture and also implies an amount of choosiness (as opposed to desperation) while getting across the fact that you are not currently working on a project.” — Brennan White, Cortex

Own It

“Rare are those with a clear career path or the entrepreneurs who have not seen deals fall through. Partnerships fail or simply decide to do something different. If you can articulate with intelligence what brought you to this transition point and where you are trying to go next, then maybe your conversation is about to get interesting.” — Henry Glucroft, Henry’s / Airdrop

Give Your Elevator Pitch

“In any networking situation, you should present yourself in an assured, positive way. You knew how to give the elevator pitch for your last venture, so what’s the pitch for where you are now? What did you learn from your last experience? What is your next goal? Thinking through these things ahead of time will help you network with confidence.” — Heather Schwarz-Lopes, EarlyShares

Be Real

“Every entrepreneur has been in your situation. Whether your past business is boring you or just went bust, networking is all about connecting for new opportunities. Be genuine about your past experience. Others will be grateful if you share something they can learn from or may offer feedback to help your situation. My best advice has been given to me when I needed it most.” — Robert De Los Santos, Sky High Party Rentals

Be Yourself and Listen

“Be yourself, and when in networking situations, make sure you listen and make eye contact. Feel out the person or group you’re talking to. Find ways to present your past experiences when they fit into the conversation. Be positive. There is always something that people can relate to in most conversations. Listen and learn what that is, and you will be fine.” — Jason Grill, JGrill Media | Sock 101

Explain That You’ve Structured Your Startup

“It is important to put the emphasis on your entrepreneurial spirit. Explain that you have already structured your startup and established a team that is running the business as if you are present with minimal supervision, and you are now ready for your next passion/challenge.” — Evrim Oralkan, Travertine Mart

Say Just That

“People understand that entrepreneurs sometimes switch projects. To say that you’re an entrepreneur in between companies makes people think that you’re still working just as hard as when you are at a company and inspires confidence that you’ll be an entrepreneur at a new company soon. When networking, remember that it’s more about the other person and how you make him feel than it is about you.” — Mike Seiman, CPXi

Be Proud

“Be proud of your situation. Embrace the lessons learned from each venture and articulate how it helped shape your current view or developing view. At the end of the day, it is about telling the evolution of you as a brand. Don’t be short, hide it or shut down. Most people are afraid of starting and failing in business; you have a powerful story to tell.” — Ilya Bodner, The Shipyard

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, YEC recently launched StartupCollective, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses.

This article was originally published on StartupCollective.

MONEY workplace etiquette

The Phrase You Should Never Use In Your Office Voicemail Message

office phone
Johnny Greig—Alamy

"Not available" conveys to the caller that you're not interested in their business. Here's what to say instead.

How many times a day when you make a phone call do you get someone’s voicemail and hear, “I’m not available?”

What exactly does that mean?

The person could be powdering their nose for two minutes, gone to a client meeting for two hours, on maternity leave for six months—or, have been transferred to the mailroom in Beijing! You have no idea.

You had phoned for a reason: to get information, to place an order, to extend an invitation to meet, to do business. But now you hang up in disgust, your mission thwarted.

Now you have to invest time figuring out your next, hopefully productive, step. Do you check the web for their corporate number, another branch number, or simply find another “source” altogether, giving your business to a competitor? Perhaps with your time constraint you are forced to simply table your project.

If this were your business, you’d have just lost a customer.

Now it’s time to check your own voicemail.

With all of the competition out there and access to information at one’s fingertips on the web, people have untold choices when they need a real estate attorney, a construction engineer, an investment advisor, a party planner, a temp agency… or whatever it is you do.

If you want to build your business, you need to build relationships, and this requires showing respect for your caller’s time and energy.

“Not available” is simply dismissive. It communicates to the person that their need is not that important to you.

And it either causes your potential customer to hang up, or to get stuck going through an obstacle course in which they get the main switchboard and are given the third degree: “What’s your name? What’s your affiliation? Why are you calling? Whom do you want to speak with?

The alternative is simple: Provide in your voice message a phone number and refer the caller to an assistant, a colleague, a cell number—any way of expediting their quest. Help your caller to reach someone who can, in your absence, be helpful and succeed in keeping the business.

And remember to update your voicemail message when appropriate. Recently I called an office and heard: “I’ll be back February 1st.” It happened to be March 17th!

Investing a mere 60 seconds can keep a client and their business while enhancing your reputation.

Arlene B. Isaacs is an executive coach in New York City.

MONEY Odd Spending

How Much Do Street Musicians Make? More Than You Think

Brass band, Jackson Square, French Quarter
Kylie McLaughlin—Getty Images/Lonely Planet Image Brass band, Jackson Square, French Quarter

A San Francisco duo earns over $21 an hour busking on the street. But it's not quite as good a business as that number makes it seem.

Ever wonder how much people playing music on the street pull in? Speculate no longer.

Over at Priceonomics, Mark Sandusky, one half of the music duo The Dirty Little Blondes, has made his financials public. During 12.5 hours of performing, the pair made a total of $532, which works out to $21.22 per hour each.

Assuming a 40-hour work week, that’s an annual salary of $44,137. But before you quit your day job, know that even the pros can’t hit the streets and pull in that much cash every day. (And as the Sandusky notes, you’re not going to make any money if your music isn’t good.)

Sandusky has learned to pick his spots, performing on the streets of San Francisco, where the band is based, almost exclusively on Friday through Sunday and generally in the evening. The above revenue came over the course of an entire month, meaning any aspiring 9-to-5ers hoping for similar results are probably out of luck.

“It’s also not as if I can walk out on the street and make $21.22 an hour whenever I want,” the guitarist writes. “The big numbers all came between the hours of 5pm and 10pm on days before weekends or holidays. Even out of those 10 prime hours, we could only comfortably play 6 of them (3 a day) before our voices, fingers, and general energy level started to break down.”

How important is good timing? On their least lucrative Friday night, the Blondes made $98 in two hours. On their worst Monday afternoon, the group made just $3 in the same time period.

Sandusky recommends picking areas where your type of music is going to get the best reception, and cycling through multiple spots to make sure you don’t overstay your welcome. He’s not the only performer to discover the importance of location. Joshua Bell, the renowned violin soloist and conductor, tried busking in a busy Washington Metro station and was rewarded with only $32.

The Blondes‘ preferred venue? Next to a crosswalk, which grants at least 20 seconds of a captive audience.

Check out Sandusky’s entire post here.

TIME Careers & Workplace

How to Tell the Difference Between a Fakepreneur and an Entrepreneur

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Are you seeking to select a title or solve a problem?

With entrepreneurship being the sexiest profession going these days, a lot of people are wanting to get into the club. Saying you’re an entrepreneur has as much social cachet as mentioning you attend med school has.

Beyond the esteem, there’s a similarity in the fact that no one actually knows if you will become a successful entrepreneur — just as no one knows if you will graduate and become a doctor. But few people go around spreading doubt that a med student will graduate.

Yet most people doubt the success of an entrepreneur.

There’s almost no way to fake your way into med school but there are plenty of fakepreneurs.

Here’s how to tell the difference between a fakepreneur and an entrepreneur:

Related: The Real Person’s Guide to Finding Your Passion and Loving What You Do

You might think it has to do with how much is in the bank: You’re wrong.

Being an entrepreneur is about being someone who organizes and operates a business or businesses, taking on greater than normal financial risk to do so.

Almost all successful entrepreneurs will tell you a story of when they had no money in the bank. Success is a function of a moment in time. Some have claimed that success is not final and failure not fatal but it’s courage that’s crucial.

You might be thinking that true entrepreneurship has to do with how much staff someone has. Wrong again.

There’s the starting of Facebook. Probably most people would agree that Mark Zuckerberg was an entrepreneur before he hired a member of staff.

You might think you can discern the truth in a stunning paperweight filled with business cards, the square footage of an office or the dazzle of a corporate website. Again, incorrect.

All these things are part of a show that can be bought by anyone. They do not give clarity to the differentiation between fakepreneur and real entrepreneur.

Related: 5 Ways Entrepreneurs Learn to Manage Risk

Some might even say that if you have a day job, you’re not a real entrepreneur and I disagree with this, too. Risk is relative and paying rent is responsible. To me, someone with bills to pay and mouths to feed who keeps a day job while hustling to create a new venture on the side is as much an entrepreneur as the next guy. He or she just likely has some responsibilities or a different risk profile.

The real difference is the effort and the integrity of the intention to start something, adapt, sell, succeed, fail, pivot, get knocked down and rise up. The difference lies in the why behind the actions.

Are you seeking to select a title or solve a problem?

The truth in being an entrepreneur lies in the actions and problem solving a person does.

Related: With Social Media, Fakes Are a Real Problem for Your Business

This article originally appeared on Entrepreneur.com.

TIME Careers & Workplace

How a 15-Year-Old Started a Booming Babysitting Business

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The New York City native's business now services 190 clients in the tri-state area

Growing up, 15-year-old Noa Mintz was always nonplussed by the cadre of babysitters her parents had hired to look after her, who stood off to the sidelines on playgrounds, fumbling with their cell phones.

“At seven, I would tell my mom, ‘You need to get more bang for your buck,’” the Manhattan native told the New York Post. “It would drive me insane!”

And so three years ago, Mintz, then 12, decided to take matters into her own hands. She formed Nannies by Noa over her summer break from middle school, a company that seeks to pair families with highly engaged caretakers.

Related: Teen Crafts Low-Cost Braille Printer Out of Lego Kit, Receives Investment From Intel

Initially, Mintz drafted nannies and babysitters from her own social circle and recruited others at SoulCycle to build up a network of sorts, according to the Post, charging a few hundred dollars to each family who found a match.

Helped by word of mouth and guidance from her dad, who works in private equity, Nannies by Noa eventually grew into a full-fledged enterprise, now servicing 190 clients in the tri-state area with a network of 25 full-time nannies and 50 total babysitters.

Today, the company charges 15 percent of each nanny’s initial gross salary (typically $50,000 to $80,000, Mintz told the Post) and a flat fee of $5 for each babysitting job. With reported revenues of $375,000 thus far, Mintz says she hasn’t drawn a salary just yet, but isn’t ruling one out in the future.

Related: How This Savvy 10-Year-Old Launched a Budding Cookie Business

In fact, business has been so explosive that, during a recent SoulCycle session, it dawned on Mintz — who is now in high school — that she should hire a CEO. Last July, she tapped 26-year-old social worker Allison Johnson, who had initially applied to become a nanny, to lead the company’s day-to-day affairs.

Johnson, who admits it was initially prickly taking orders from a tween, says that the two have now found their groove. “We’re in touch every day — phone and email,” Johnson told the Post. “She’ll get back to me during study hall. She can’t shut off.”

It’s a tireless work ethic that has paid off in spades. At the ripe age of 15, Mintz is already looking back on her accomplishments with a wide-eyed pride, knowing it’s just the beginning. “It’s crazy to look back and see that I gave people jobs. It’s amazing to see what I’m capable of,” she told the Post. “I always say, ‘Don’t let my age get in the way.’”

Related: This 13-Year-Old Entrepreneur Just Debuted Her Clothing Line at NY Fashion Week

This article originally appeared on Entrepreneur.com.

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