Myths About Starting a Business

Getting a business off the ground is one of the most rewarding things a person can do. While, in those early days, it can feel like a mountain to climb, there's no reason why you can't one day find yourself at the very top.

Yes, it's going to be a lot of work, but it's worth shutting out those voices that say it simply can't be done. Countless businesses find their rhythm each and every year, and yours could be one of them.

So, to give you the boost you need, here are some of the most common myths about starting a business, and why they're not worth listening to. Take a look below.

You can't do it without a business degree

Don't get us wrong – a business degree certainly helps, but only because it offers a foundational understanding of the key factors any entrepreneur will need to consider as they go from idea to reality.

Nobody is going to ask to check your credentials as an entrepreneur – and, if they do, you can happily ignore them.

Instead of scrambling to book yourself into business school, consult a corporate solicitor as soon as possible. Forming this relationship early on will mean that you've always got someone to turn to – someone who can complement your creativity and passion with a comprehensive understanding of the key issues any new, growing, or thriving business will inevitably face.

Their expert advice will prove pivotal now, and long into the future.

It's a young person's game

The ideal entrepreneur is someone with a head full of ideas, and the energy and drive to see them through. Age, gender, qualifications – none of it matters. With age comes great experience, and that can be a major string to your bow as you get your business going.

You'll have to wait years to see a profit

Some businesses are slow burners, and need to be cultivated over the months and years before the cash starts flowing. Others, however, find it a lot easier to break ground and start turning a profit. Don't let generalisations convince you otherwise.

You need a lot of cash to get off the ground

It's true that new businesses need to see a fair amount of investment into stock, building a workforce, and obtaining premises and any relevant licences, but there are always ways new businesses can save money.

Your idea has to be totally unique

No idea is 100% original. Stepping into markets that already feel saturated can be daunting, but originality doesn't need to define your entire business model. Customers will come to you if you can stand out, and offer something slightly different.

You'll have to do everything

The idea that entrepreneurs have to play a 'jack of all trades' role couldn't be more wrong. True, before you have a strong workforce you'll need to take on plenty of the heavy lifting yourself, but there are always options for outsourcing tasks to experts. Most businesses outsource certain tasks, even when they've been operating for decades, and there's no reason why you shouldn't either.