Busting Startup Business Myths

Daydreaming about entrepreneurship is a common pastime for many. If you’re reading this, you are likely included, but perhaps have some hesitations. Take heart. Now is an exciting time to launch a startup business, and there are plenty of people making a go of it and busting prohibitive myths that they once allowed to stand in their way. You can, too.

In this world of overnight Web sensations and seat-of-the-pants business ventures, there has never been a better time to dip your toes in entrepreneurial waters. No, you don’t need an MBA to be considered a worthy startup candidate. Myth. In fact, many exciting ventures are coming from people of hugely diverse experience and educational backgrounds. What you do need is a good idea, tips to get you started and perseverance as you make the leap to launch.

Did you flinch? Sound too risky? Always thought you had to have a plan set in stone in order to succeed? If so, you have fallen victim to another myth and may have put yourself in a box of your own making by limiting your dream to one venture and one way of achieving it.

Remember, now is the time of flux and adaptability in the business world. That can sound scary, but only if your approach is uncompromising. Instead, be open to exploring your options and continue to be watchful and fluid. Launch one idea, but be open to pivoting to fill a more pressing need, should opportunity arise; for example, don’t sacrifice the growth potential of a courier service because you first committed to delivering flowers.

The belief that all organizational ducks must be in a row is another startup business myth. To best allow for that flexibility, start your business small and align your promotional investment accordingly. Initiate a few basic elements, but consider holding back on full-blown branding. Wait for a full launch until your company finds its footing, establishes its niche and is ready to take on a customer base, creditors and the world. Being frugal while savvy and organizationally fluid will save you dollars and stress in both the short and long-term.

The well-established network necessary for business launch is another myth you would do well to ignore. Networks can and should be built, but they can be nurtured thoughtfully through value-added relationships better than happy-hour mixers. More than a few entrepreneurs will tell you that offering your services where you see the need, with no strings attached, is one sure way of not only establishing a valuable network, but also building your company’s reputation and client goodwill. Your helping hand will be a refreshing surprise, and likely to garner you actual clients and positive word-of-mouth.

Be assured; the work is out there, and you are worthy and capable of succeeding in your startup business if you are watchful, proactive and fluid. Put to rest any belief in the myths that once held you back and start taking action to make your entrepreneurial dream a reality.