You have probably heard some crazy advice from someone when you tell them you are going to start a small business. The following are common business startup myths that can help you advert trouble when beginning a small business.
Myth 1: You must have a business plan to start your business.
False. I do recommend writing a business plan to give your business goals and direction. The only time you must have a business plan is when you are seeking business loans or investors.
Myth 2: You need a lot of money to start a business.
False. You can start a service business that doesn't need a large inventory of products. Also, you can work from home after your current job until you put together a business that pays your bills and is self sustaining.
Myth 3: Don't borrow or partner with family or friends.
True. This can be the end of a friendship if the business goes bad. Also, family members have higher expectations than an average employee. It is not mandatory but I don't advise it.
These are some myths that people hear about for small businesses. Some true and some false. If you think about it, you can do anything you want to it just might take a little bit more time or money.
Thursday, March 5, 2009
Subscribe to:
Post Comments (Atom)
1 comments:
Great blog!
If the economics don't work, recycling efforts won't either.
Http://LivePaths.com blogs about innovative entrepreneurs that make money selling recycled orreused items, provide green services or help us reduce our dependency on non renewable resources. These includes some very cool Green small businesses and investments opportunities.
Post a Comment