6 Myths of starting your Business now broken!
To start a business is not a simple thing! It needs a certain energy to build something profitable from scratch.
The concept of entrepreneurship becomes increasingly popular, even the number of myths attached to it also increases. They are almost always the only reason people do not commit to the idea of starting a business – they are just too afraid to start.
Let us share the six most common myths – now broken!
1. You should know your game before playing
Truth: You don’t! What you really need is curiosity and a belief that there is something grand out there – something that only you can pursue. Visionaries like Steve Jobs, Madame Curie – even Einstein – had achieved greatness even though they did not know where their road leads to. The idea that you need to know exactly what you’re doing before you even start is incorrect; trusting yourself to do great things does wonder.
2. You need to have a Business Plan fully laid out
Truth: It is always helpful to have a plan made before you kickstart your business – but you do not need something elaborate. Startups are unpredictable as they are, so a simple plan is more than enough – one that covers your mission, vision and marketing strategy.
3. Wait for the right time before lift-off
Truth: WRONG. There is always a right opportunity present – but you should take the initiative.
Microsoft was founded in 1975, just when the recession ended; later in 1981, it was re-incorporated – just when the recession of the 1980s commenced.
Even in such economically troubling times, Microsoft kept fighting through, and emerged as a booming, multi-billion dollar company!
So, the time is always right – you just need to fight the odds and grasp the chance.
4. Don’t even think of starting if you don’t have a lot of money!
Truth: That is wrong! You can kickstart your business by simply testing your product or service in small batches, just to start its growth incrementally. That is always advisable – a slow steady growth rate helps give your business stability before it begins to profit.
5. Your company won’t last unless it’s built on a revolutionary idea
Truth: This is false. In fact, building a business based on a unique idea is always risky, because it never has a predefined market. The best way to go about it is to question the obvious: what is the problem – and is there a simpler, better way to solve it?
6. Big Risks give Big Rewards
Truth: Always taking huge chances is not necessary for success. The only thing that confirms positive result is a good plan – and of course, dedicated hard work. Taking risks should always be a last resort – never an ideal concept!
There are countless risks that are tied close to starting your own business from the ground up – but it is always good to reflect on the wise words of Steve Jobs, founder of Apple:
“I’m convinced that about half of what separates successful entrepreneurs from the non-successful ones is pure perseverance.”
If you need any help in kick-starting your business, check out the Oscar POS