Before You Start a Business, Forget These 4 Myths

Starting a business is hard enough. Don’t make it harder by believing things that simply aren’t true. Based on my experience interviewing dozens of successful entrepreneurs and business leaders, here are four myths that trip people up before they even get their businesses started (and why you should ignore them): 

MYTH #1: You need a ton of money to launch.

No, you don’t. You need resourcefulness. Some of the most successful entrepreneurs started small and stayed scrappy. It’s called bootstrapping. The lower your overhead, the more control you keep.

MYTH #2: Your idea has to be totally original.

Quite the contrary. In fact, many times it’s actually better to jump on a well-beaten path instead of trying to carve out a brand new niche. Think of it this way: you’re trying to solve a problem in a way your audience values. That could mean doing something better, faster, or with more care than the next person. Don’t overcomplicate it.

MYTH #3: You’ll have to work 24/7.

I mean, you can if you want to. A business will take up as much time as you give it, but that doesn’t mean you have to burn out. Set boundaries. Take breaks. You’re in this for the long haul.

MYTH #4: You have to quit your day job first.

As many entrepreneurs who came before you have already proven, you can build a business while you’re still employed. Then when the business is stable, you make your move.

The bottom line here is not to let fear disguised as “conventional wisdom” slow your roll. Most people giving advice aren’t in the arena with you. Listen selectively, trust your gut and get moving.

Want more practical strategies like this? My new book Your First Business Blueprint is packed with them. It’ll help you cut through the noise, focus on what’s important and build a business that lasts.

Now available on Amazon → Your First Business Blueprint: How to Plan, Launch and Grow a Profitable Small Business