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Small Business Myths You Need to Debunk As an Entrepreneur

Small business myths - cfamedia

The outstanding number of small business owners, who believe in different myths, regarding the running of small scale business, is alarming; oftentimes, they let these myths limit them, from achieving great results, in their endeavors.

Holding on to myths is as dangerous as, holding on to a blade. It cuts deep and when it is done, it may take a while to repair the damage caused.

Most myths appear to be true when looked at, but on a closer look, it is easier to realise that it is a falsehood.

Here are some major, small business myths, that have been proved to be false:

Starting A Small Business Is Usually For The Money

Many people believe that the sole reason why entrepreneurs turn their small ideas, into companies, or, into major businesses, is that, they want to make money; this may seem true, but it is false.

Money is a product of consistency and hard work when it comes to business.

If the reason, one engages in a business venture, is to make money alone, chances are, that, the business would fail.

Most entrepreneurs engage in small businesses because of the passion they have for such a business.

Truth is that, initially, business yields little, or, no gain, for most young entrepreneurs, but passion keeps them, not money.

Small Scale Business, Will Create More Time For The Owner

Most entrepreneurs go into business, with the mindset of becoming a boss of themselves and this will make them have more time, to do other things; this is not exactly the case.

Owning a business will make you busier, than working for someone else because you want the business they turn out well.

Adequate time is to be given, for the success of every business and because it is your business and you will not want to see it operated anyhow.

Starting A Small Business Is Expensive

People often believe that it will cost you a fortune, to embark on a business idea, whereas, this is not always, the case.

The little you have for a business is enough, to make a start. It may not be enough to sustain it, but starting will help you to gather profits from it, to sustain the business in the long run.

Small Businesses Take Too Long To Make Profit

This is not totally true. If you know how to play your cards well, you will be making a profit.

Passion is good to run a business, but skills, are also important in running a business.

If you know some tricks and you know how to utilise what you have well, you will be making a profit, in no time.

It is obvious, therefore, to note that, businesses, whether big or small, are run, based on a number of principles, in order to make profits and not based on some myths that are not proven.

Are there other small business myths that need to get debunked, let us know in the comment section below.


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