7 Myths About Running Your Own Business

7 Myths About Running Your Own Business

Let's face it, ditching the traditional 9-5 job and running your own online business is quickly becoming the norm. And for good reason! When you work for yourself you don't have to worry about pleasing your boss, having very limited vacation time, or working hard so someone else can be successful. You are working for your dream and the only limits you have are the ones you put on yourself. That is an amazing feeling!

With all that being said, there are a lot of misconceptions out there about running your own business. Let's look at a few of those myths and why they are bogus.

1) You have to know what you are doing.

Ok, so you need to at least have some idea of what you are doing but you don’t need to know everything to get started. The beautiful part about our world today is that everything you need to know is right at your fingertips. There are numerous entrepreneurs out there who have been where you are. Learn from them! Reach out to someone who is successful in what you are trying to do and ask for their advice.

2) You have to start at the right time.

This one is totally wrong! If you waited for the perfect time to start your business, you would never start. So many entrepreneurs have started their businesses at the worst possible time in history or their personal lives and they were wildly successful. The perfect time to start your business is right now.

Think a pandemic is a crazy time to start a business? Read this article to find out why it’s actually the perfect time!

3) You have to have a lot of money to start.

There are a ton of ways to kick-start your business without a bunch of money.

Sometimes a slow and steady business growth will lead to a more stable business and help you learn the ropes while your profit margins grow.

4) You have to hire staff.

Hiring staff is an overhead cost that will be too much for your business, especially in the beginning. It’s important to delegate and outsource as much as possible. Hiring an agency or freelancers to handle some aspects of your business is a wise decision. Let them handle the not-so-fun business parts while you spend your time on the part of the business you do best (and the reason you started your business in the first place).

5) You have to work 24/7.

Yes, in the startup phase you will work long hours most days. To get your business off the ground, it’s just part of it. But be careful; if you grind yourself into the ground you’re going to get sick and that’s going to affect the success of your business. Try to find a healthy balance. Once your business stabilizes you will be able to take a breath again. Running your own business is hard but it’s supposed to be enjoyable too!

6) You have to do it all.

This kind of ties into number four. If you want to keep your sanity, you have to learn to delegate. If you don’t, you will burn yourself out. Hire an agency or a freelancer to take the heavy load off of yourself. You and your business will benefit from it.

7) You will make so much money!

Ok, so this one is kinda true- but not right away. You can totally make a lot of money running your own business but your success is going to depend on you. Imagine your business as a plant. You don’t see the plant grow right after you plant the seed. It takes time and nurturing for the seed to pop out of the soil and produce. Your business is the same way! Don’t give up just because you don’t see the fruits of your labor right away. Keep pushing, keep showing up, the progress will come.

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