If you are thinking of starting your own business, you may be hesitant after researching entrepreneurship online. Any successful entrepreneur will share stories about the difficulty getting started in the beginning, the grit they used to succeed, and the obstacles that they faced along the way. While this is sure to be true and you can certainly expect challenges on the horizon, there are also common misconceptions thrown around about entrepreneurship. Made from assumptions rather than those who have actually found success in the industry, these entrepreneurship myths are not something to worry about when starting your business.
- Your pockets better be deep
It takes money to make money, right? That is only true to an extent. You certainly do need funding and resources to run a start-up, however, these resources do not need to come from venture capitalists or winning the lottery. In actuality, your biggest resource can be yourself. You can use your existing resources to help fund you in the beginning. The most valuable resource that you can utilize when starting your business is confidence in your ideas. There are also countless other opportunities to raise the funds needed to start your business, like loans, grants, or funding from friends and family via online social crowdfunding sites.
- You need to be an expert
Few people have experience in entrepreneurship when starting their first business, and hardly anyone is an expert on the subject since it contains so much variation. The key to being a successful entrepreneur is to be open to learning what you don’t know. Whether it ends up being a success or a failure, running a startup is a constant learning experience. The best entrepreneurs are zealous and not afraid to step far outside of their comfort zone in pursuit of success.
- Timing is everything
If you wait around for the right time to start your business, you will never start your business. Timing does carry weight for entrepreneurs but there is really never a “perfect time” to start. There will always be some set back to sway you from starting your journey. The most beneficial thing you can do is properly prepare and then just get started. You will not be successful right out of the gate, but you will not find any success in entrepreneurship by remaining stagnant. The sooner you start, the farther you will get.
The truth about entrepreneurship is that tenacity, hard work, dedication, and passion will drive you to succeed. Even the most profitable companies started from the ground up, and they all started with the same spark that is ignited within you now.