4 Myths of Entrepreneurship

When starting a small business, several factors go into making it successful. Your hard work is what got it off its feet and going. Your determination keeps it going every month. There are a variety of reasons why some people feel that they wouldn’t cut it as an entrepreneur, some of which are valid, and some of which might be completely false. Here are the top myths associated with becoming an entrepreneur:

  • Luck has everything to do with it: If you talk to most small business owners, they will tell you that luck had absolutely nothing to do with the success of their business. They struggled through hard times to make it. There were likely times when they wanted to call it quits and give up when things weren’t going right. They will probably tell you that it was their hard work that kept them going and made their small business what it is today. In other words, they didn’t just “get lucky” and wind up with a successful business.

  • You need a lot of money: This couldn’t be farther from the truth. You don’t need large sums of money to start your small business. Many people start with what they have and make it work. Others use the income from their full-time job to make ends meet. Some types of small businesses are organic and don’t require large funds to create revenue. It starts with an idea and the follow-through to make it happen. The rest is up to you.

  • You can’t have another job: A lot of entrepreneurs start their small business while they are working a full-time job. They put in the hours when they are not working at their regular job, which allows them to stay afloat when they are starting out. Plus, it reduces the amount of risk they are taking because they still have a job. Entrepreneurs who want to make their small business work will find the time to make it happen, even if it’s early in the morning or late at night. They do whatever it takes.

  • You have to be the best: When you look at the marketplace, you probably find yourself thinking, “There is so much competition out there.” Not every small business is the top dog. It’s good to be good at one thing to differentiate yourself from your competition and give people a reason to visit you. There’s always room for more competition. If you see a niche where you can make a difference, give it a try. Just be good at what you do and sales will likely result.

Don’t let these myths sway you from becoming an entrepreneur, as they couldn’t be farther from the truth. If you have the willpower, you will find a way to make it work for you. Running a small business can be very rewarding, and with hard work, you can make your dream a reality. Just go for it. Don’t let luck, money, a job or being the best stop you from achieving your goal!

brianheadshotAbout Brian Rowland
Brian joined the BizIQ team as Director of Marketing and Education in January of 2016. He brings with him over 15 years experience in achievements in sales, marketing, and new business development through B2B and Consumer sales. Brian earned his MBA from Indiana Wesleyan University in 2008, and also served as an Adjunct Faculty Instructor for University of Phoenix.
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