3 Myths About Entrepreneurs You Need to Ignore
The road to successful entrepreneurship can be difficult. Persistence, luck and an effective business plan can go a long way in creating a successful business, but there are a few myths that hold back many entrepreneurs. Learn why these three entrepreneur myths should be ignored as you grow your business.
One of the biggest myths surrounding startups is the need to be constantly connected. Whether you’re selling products online or starting a storefront in your local community, you’ll be warned that you must be active on every single social media network in order to succeed. The myth stresses that not only should you have an account on these sites, but you should also communicate constantly with your audience and send out multiple messages.
For most entrepreneurs, a small, effective base of social media accounts is far more effective than a wide range of channels. Your business should think about depth, not breadth. Work hard to create a lasting impression on a few channels, connect in meaningful ways and spend time wisely in order to leave yourself enough time to focus on your business.
Another myth states that you need to start with a healthy amount of cash or be independently wealthy in order to succeed as an entrepreneur. This myth uses arguments about costly startup plans, long-term marketing strategies, and even points to examples of wealthy business owners who couldn’t be where they are without prior wealth.
This is another obviously false myth. While it may be more difficult to bootstrap and create your wealth without a healthy amount of financial assistance, it’s still possible. Look for ways to start making money from day one and create a business plan that allows you to grow your business while still earning enough to pay your bills.
Finally, watch out for entrepreneurs who try to sell you overly expensive and ineffective strategies. There is a wide range of individuals who claim that their patented system is the only way to start your business. The irony is that many of them never used their own startup model. Don’t let a tempting offer and a baseless promise cause you to build your business on a flimsy foundation.
A wise entrepreneur will avoid these three myths. With dedication, hard work and some business savvy, you don’t need a particular system, large amounts of wealth or dozens of social media profiles to create a successful business, startup or career in entrepreneurship.