When starting out in any new industry, it is always wise to seek out the help and advice of experts or leaders in that industry prior to getting going.

10 Common Myths Surrounding Start-Up Companies

However, along with some wisdom, a lot of people can get the wrong ideas and gather incorrect information when doing this. When it comes to entrepreneurship and start-up companies, there can be a lot of misinformation out there.

To avoid making silly mistakes when starting out, keep your eye out for these common myths.

Myth #1: All You Need Is an Idea and Motivation!

Although this is probably the most innocently created myth that would be lovely to believe, it is absolutely not the case. Being an entrepreneur is not necessarily all about a good idea and some great determination.

You also need connections and capital; two things that cannot be mustered no matter how hard you try.

Myth #2 – You Need to Be Mega-rich

Although start-up capital always gives a helping hand; it is not to say that you need to have money growing on trees to become an entrepreneur.

Although most ideas cannot get off the ground without some sort of funding, many normal people with a little bit of money on the side can give starting up a try.

Myth #3 – You Need to Become a Workaholic

A lot of people steer away from the idea of starting a business or working on an idea because they don’t want to become workaholics.

There is a myth floating around the atmosphere that in order to make an idea successful, you need to work on it non-stop and never have a break. That is absolutely not the case.

Myth #4 – You Have to Be Multi-Skilled (At Everything)

Now this one comes with an element of truth. Being multi-skilled as an entrepreneur is very helpful, as it will save you money when it comes to outsourcing certain activities.

However, you simply cannot do everything yourself; and you do not need to! Having a team to share the load is a sign of strength, not weakness.

Myth #5 – Your Product Will Just Sell Itself

This is such a silly myth to believe. Products do not sell themselves. Marketing is needed, demand has to be created, and you need to make people see why they need your product.

Believing your product will sell itself is the step before failure for your start-up company.

Myth #6 – You Need to Do It All on Your Own

Like I mentioned before, many people think that they need to be skilled at everything and have all the knowledge in the world in order to prove themselves as an entrepreneur.

Myth #7 – You Need to Hire Permanent Staff

Permanent staff is not a cheap expense, especially when you are starting out. Although it is a good idea to have a team to support you, don’t feel like you need to employ an entire team straight away.

Often the best idea is to outsource work at the beginning.

Myth #8 – You Need to Have Everything Worked Out at the Beginning

Although it is definitely a good idea to have a vague business plan or an idea of the direction you’re headed in before you get started; many entrepreneurs end up figuring things out as they go, and that is normal.

Myth #9 – It’s Easy!

Some people think that starting out as an entrepreneur is a piece of cake and that there will never be hard times or the need for hard work, and that is not the case. You need to be determined to push through some difficult times in order to see your idea become a reality.

Myth #10 – You Need to Wait for the ‘Right Time

Nope! Absolutely not. The best time is now, straight away.

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