We attended the REDI Entrepreneurial Summit in Columbia, Missouri, where we realized that common knowledge about tech entrepreneurship can vary greatly depending on location and industry, leading to misconceptions about what's important when starting a tech company. IP plays a relatively small role in most tech startups, business plans are often unnecessary and can hinder agility, finding tech help requires convincing developers to take risks, and funding is typically sought from investors who want to invest in proven products with customers. Instead of focusing on these aspects, first-time entrepreneurs should focus on building a product and acquiring customers.