Five Facts About Starting a Business

Posted: October 27, 2014

[caption id="attachment_12080" align="alignright" width="374"] Image from dumblittleman.com[/caption] The idea of starting a business can be scary. There are many myths out there about what can go wrong, and that can discourage anyone. Put an end to the myths in order to achieve your dream of owning a business. Lauren Lambie, writer for Dumb Little Man, shares the common myths regarding starting your own business.

Five Myth-busting Facts About Starting Your Own Business

There was an interesting statistic recently on inc.com. It suggested that almost two-thirds of people under the age of 30 wanted to start their own business. Many people see business ownership as the best route to financial and career freedom, so it’s no surprise that the number is so high. However, only a small portion of that number will ever succeed in making their dream a reality. Why is that? Well, many people equate starting a business with risk, complexity and potential financial ruin. In other words: it’s too scary. So here are five common myths about starting a new business, and the reality. Myth one: You need to sell your heirlooms and re-mortgage your home just to cover the start-up costs The reality: You can start a business for less than $100 The reason would-be entrepreneurs think a start-up is going to be expensive is because they often have a grand vision about what their business will look like. A strong vision for a company is a fantastic thing, but to succeed in starting you don’t have to realize that vision on day 1. Instead, why not narrow down your ideas into a simple, easy format that you can start on a limited budget, and grow it from there? You might be embarrassed to launch something so simple and unexciting, but it’s going to help you build a loyal customer base and it will help you to grow. Read the entire article Five Myth-Busting Facts About Starting Your Own Business on Dumb Little Man.