Sunday, 22 January 2012

Startup Business Urban Myths Exposed


Starting a business is the most exciting venture for every aspiring entrepreneur. Dreaming of being a boss, and thinking how wonderful it is to get paid for doing something they love, is what makes this venture attractive. For the entrepreneur, starting a business allows one to enjoy the rewards of being an owner. Unfortunately, when it is time to act, many make excuses not to start a business. Most excuses are myths that prevent them from taking the leap. This article will debunk several myths that discourage the aspiring entrepreneur from starting a business.
Myth 1: A great idea is necessary
Many entrepreneurs waste time chasing a great idea before they start their business. The reality is those who are successful begin with a simple idea. What matters most is how to execute the idea.
Myth 2: Starting a business is too risky
Those who have failed in their past ventures perpetuate this myth. Today, a prospective entrepreneur has access to more information and resources. All this helps to reduce risks in starting a business. Additionally, the budding entrepreneur has realistic expectations, and this is reflected in their projected budgets.
Myth 3: Business plan details
A detailed business plan is necessary to obtain a loan from a bank or a venture capitalist. If you are just starting out, write a simple business plan, and concentrate more on developing your product and marketing them as soon as possible.
Myth 4: A website will bring customers
Today, having a website is not enough to bring customers. An aspiring entrepreneur needs to be proactive and meet their target customers in places where they congregate, such as on Facebook, Twitter or on forums. The social media networks are perfect promotional tools.
Myth 5: Owning a business gives me freedom
Starting a business is the most critical part of being an entrepreneur. By necessity, the owner wears many hats. Only when the business is well established and making a profit, will the owner be able to hire employees and delegate tasks.
Myth 6: You need an MBA
A business degree is not a guarantee for success. Additionally, getting a business degree will give the entrepreneur more options to work with companies at a lucrative salary.
Myth 7: Starting a business is a lonely activity
Today's business is based on interacting with customers through blogs and social media. Additionally, an aspiring entrepreneur is also able to connect to other business owners globally through online forums.
All these myths are false alarms to discourage an aspiring entrepreneur from starting a business. Now that these myths have been debunked, they should not be seen as obstacles or excuses from starting a business - start your business and good luck!
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