6 Myths That Stop Simple Business Ideas From Becoming Reality

 Do you dream of starting a business, but somehow, some way you found a way to talk yourself out of it?

Maybe you came up with a few simple business ideas – great ideas but others told you that it can’t be done because it’s too risky, or the idea won’t work. Maybe you are starting to listen to them.

Before you decide to walk away from those simple business ideas of yours, lets put to rest some of those things you are hearing or might have heard out there.

These are statements, old wives tales, stuff that have been around for a long time, things that sound true but are not. Nonetheless, these are things that keep people from pushing forward with starting a business. Things that almost kept me from starting.

In his book, Start Late Finish Rich, David Bach mentioned six myths that people hear about starting a business.

Myth 1 – You need a lot of money. The reality is that most people don’t have a lot of this. I did some research and it’s amazing how little you need to start a business. For me, I was looking for a business I was passionate about and did not require a huge investment upfront on my part.

Myth 2 – You need to have experience. If most people are like me, most of those things I have experience in would be hard to translate into a business, or into something I was passionate about doing as a business. So for some, it may just be a matter of finding a business that you would really enjoy or something you can easily learn how to do.

Myth 3 – You need a lot of time. It seems time is something everyone is having a hard time finding these days. I guess what David meant is the fear around being told that once you start a business, it is going to require a lot of your time.

Time away from family, friends, loved ones. You all have heard it. Every waking minute is going to be spent in or on the business. I guess for some people this may be true.

But it doesn’t have to be. There are many businesses that you can start part-time. Then as the business becomes successful, you can decide to remain part-time or go full-time.

You may also discover that as the business becomes successful you will have more time to do the things you always wanted to do like travel, volunteer, or spend more time with friends and love ones.

Myth 4 – Nine out of Ten businesses fail. I cannot tell you the number of times I have heard or read this. If I had a dollar for every time I heard it, I would not have to start a business because I would already have enough to retire rich. This myth may be the single biggest reason why many simple business ideas never get off the ground.

Thanks David for quoting this statistic: “According to the Small Business Administration, two-thirds of all new businesses survive at least two years, and about half survive at least four.” Thank goodness.

Another myth laid to rest. Another excuse to keep from getting started shot down.

Myth 5 – You need a lot of stuff to get started. Not really.

More and more people today are finding ways to start small businesses with little to no money. There a hundreds if not thousands of simple business ideas you can start today on a shoestring and people from all walks of life are doing every day.What’s also amazing is that most of the businesses do not require a lot of equipment or inventory to get started.

Today with a few simple business ideas, passion and commitment you can start a business. Just look on the internet with all the successful online businesses. The opportunities are greater today than they have ever been.

Myth 6 – You have to be passionate about the particular business you choose. Thanks again David for putting another myth to rest. Like before, I cannot tell you the number of times I heard you have to be passionate about what you are selling, passionate about the company.

As David pointed out, this is not necessarily true. What if you like the product but not love it, but the product has an excellent marketing system, training, support, customer service, etc.

And what if you are more passionate about “WHY” you are starting a business more than the product itself? Is your passion for the “WHY” enough to make you successful? Some may disagree, but something to think about.

It still amazes me that I am living in a time where now more than ever it is easier to start a business. This is fact, not fiction. Don’t take my word for it. Check it out for yourself.

What do you think? What is keeping you from getting started? What are some things you have heard that might have made you second guess about starting a business?