Myths and rumors advising entrepreneurs on how to have the most successful business startup have been around for as long as small businesses have. Starting a business is no easy task; there are hours of demanding work and dedication to even begin the process. With family or friends giving you their beliefs on how the business should be started added in the mix, the whole endeavor may feel impossible. As you start your business journey you may fall prey to some bad or outdated advice – and you’re not alone. After all, they are called “myths” for a reason. They’re often repeated and often followed, despite potentially bad outcomes. Sometimes, however, they may become roadblocks not because they aren’t true, but because you think they are. So, it is important to familiarize yourself with the most common myths so you can prepare.
Business Startup Myth #1: Degrees Make Money
Your business — or you — won’t be successful because you do not have a degree… or so they say. Going to college can provide valuable tools and skills to be successful in certain industries but it’s not required. There are plenty of people who have successfully started businesses with no college education. Even though a college education can provide additional knowledge, it does not replace real-world experience. Most successful people without college education learn what works best by putting themselves out there
Business Startup Myth #2: Be a Business Plan Genius
According to Forbes, the second most common myth is, “You can’t be successful without a perfect business plan.” To provide context, a business plan is a written document that lays out the goals for the business. It also provides a time frame and methods to how those goals will be achieved by the business. Having a business plan is required, as it puts the business in motion and achieves the set goals. However, it does not need to be perfect. In fact, there is no such thing as a perfect business plan. If you believe your plan will be effective for your business, then stick to it. Besides, you can always revise your plan down the road. You may be wasting valuable time sitting around “perfecting” your business plan when you could be getting your ideas off the ground.
Business Startup Myth #3: The Early Bird (to the Market) Gets the Worm
Some people claim your startup will not be successful because your product or service is not first in the market. Many business owners give up before they even start because their product is already offered. Do not let this discourage you as a business owner! There are many related products and brands that are successful simply because they offer their unique twist on what’s already out there, whether it’s a lower price point, different ingredients, or a compelling business story. Being first may be important, but there are still plenty of opportunities after the first product or service of its kind hits the market. As a startup, find your niche market and focus all your work to creating your own path. Your product or service will reflect well if the work is put into it beforehand.
Let ProSe Legal Help Grow Your Small Business!
Here at ProSe Legal, we are not strangers when it comes to launching small businesses. We help small business owners across the Inland Empire kickstart their dreams! Our expert LDAs can help you by filling out all the necessary paperwork to get you plans moving. We even offer a full Business Package that will satisfy all your business startup needs!
today or call (909) 497-1349 to schedule your next appointment with our professional LDAs at any of our locations across the Inland Empire!
