Most people already have their mind made up about what constitutes a legitimate business.
Big office buildings, hundreds of employees, weekly conference calls… you get the picture.
The fact is, anything that involves making money can be considered a successful business.
If you’re someone who’s itching to get your business off the ground, but feel as if you’re in over your head, think again.
I guarantee that having a horse in the race and creating profit from the marketplace is more doable than what you currently have in mind.
Here are 3 of the most common misconceptions that hold potential entrepreneurs back from pursuing their dreams.
One of the more popular statistics that people bring up when ventures are on the table is the “fact” that 80% of businesses fail in their first year.
That’s not necessarily the case… In reality, the majority of businesses make it 5 years or more!
But how does this number get so misconstrued?
It’s simple. This percentage only factors in companies or brands that look big enough on paper.
So, if you’re running a one-man-band business operation, its success often goes unnoticed.
Another reason why entrepreneurs steer clear of starting their own business is because they believe it requires a huge upfront investment.
However, few trades require any capital expenditure at all.
Don’t stress over building a massive employee base or covering the costs that come along with renting out office space unless it’s completely necessary. Most startups are up and running just fine with no staff or company building to commute to.
Apart from that, people also like to use the I don’t have time excuse for making their business dreams a reality.
Whether it’s a sole proprietorship, partnership, corporation or LLC, there’s no getting out of all the paperwork involved with registering a business.
The thing is, filling out all these forms can now be completed online, which makes this step of the process easier than ever before.
Don’t let these common myths prevent you from giving business your best shot!
No, 80% of all businesses don’t fail.
No, it doesn’t cost an arm and leg to get everything in motion.
No, you don’t have to waste countless hours signing papers just to add your business to the record.
Keep this in mind and start making moves towards your next business endeavor today.