Unpacking Unhelpful Myths When Starting a Business

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More than ever, folks are rejecting the 9-5 employee life and jettisoning themselves into the adventure of business ownership. It’s pretty exciting, with new ideas and products popping up faster than you can get through them! 

However, if there’s one thing that always bothered me about launching a new venture, it was the deluge of strange information that came my way when I started out. Now, don’t get me wrong, there’s plenty of great information out there, and it’s always worth listening to free advice, but there are also a lot of misconceptions about how things are going to go.

In today’s blog, I’ll look at some of the most unhelpful myths in business and what you need to know when starting your venture. If you’re taking your first steps into entrepreneurship, then this blog entry could be pretty valuable. 

Read on! 

Failure is an Option

You read a lot about folks making unsuccessful attempts at their business. Some people even use past failures as a derogatory way to talk about their peers. It feeds into a strange belief by many that starting a business is all about succeeding on the first go. 

The reality is pretty different. Failure is constantly on the horizon, and many of the world’s most successful entrepreneurs have defined themselves by their spectacular failures instead of their incredible successes. Why? Because failure is as much a part of business and entrepreneurship as anything else. Rising above failure is what sets the success story from the forgotten tale. 

Grind Culture 

Being able to hustle and grind aren’t bad qualities for a business owner. In fact, showing a certain level of dedication to your business is pretty much required to succeed. 

However, pushing yourself to the max day in and day out will not make things happen any faster. In fact, doing that is just going to make you burn out quicker. 

So whether it’s you, or your team, it’s worth it to slow down from time to time and remember that everybody is a human being – not a machine. 

Lack of Capital

Having money to start your business is always great. However, sometimes that simply isn’t feasible at the very start. I see a lot of folks put off their dreams because they think they can’t do it due to a lack of capital. 

The reality is that plenty of businesses fail even when they have a large base of money to start from. Even worse, the rate of failure for a large startup, compared to a smaller startup, is about the same, so getting started in whatever small way you can is worth it. 

You Are Not Unique

If you think business is about figuring out a unique angle or product to sell, then you’d be wrong. Your business idea doesn’t need to be the first, or last, of its kind. If that were the case, then we’d never see another Italian or Chinese restaurant again! 

Doing something well in business is far more important than being the only one around. If you can find a little gap in the market, or just believe you can do better than the next guy, then don’t let the fact that you’re not unique deter you. 

Be creative, trust your instincts and stick to a vision of what you want to create. So what if it’s not wholly original? Sometimes people don’t want something new; they just want something with a tweak or done in a better way – and that’s enough for most success stories to occur. 

That’s it for today’s entry! Check out my other blogs for more thoughts on the latest development in the digital industry and the challenges of entrepreneurship in the online world. 

Until then, see ya later! 

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