Entrepreneur is someone who initiates and actively operates an entrepreneurial venture. Inherent in this definition is the idea that the entrepreneur is not just the person who identifies the opportunities that are the basis for pursuing and initiating the entrepreneurial venture, but is also that person who operates the entrepreneurial venture. The entrepreneur “does” the venture as well as “dreams” it up. Every thinker defines the term entrepreneur with different view and angle. Because of this only there are different myths about entrepreneur. Some of them are true and some of them are baseless. The objective of this paper is to focus on the myths about entrepreneur.