Business Myths to Be Aware Of

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Have you ever dreamed of starting and running your own business?  What’s stopping you?  Dig deep when you ask yourself that question.  Is it finances?  Time?  Lack of confidence?  While those all may be valid reasons to question, they shouldn’t be reasons that hold you back.  There can always be a way to find financing.  There can always be more time allocated to your needs…and you can always find ways to boost up that confidence.

business myths

If your passion lies in wanting to be your own boss, you can make it happen.  Don’t believe everything that you hear about starting your own business.  There are many untruthful statements that seem to give starting your own business a bad stigma.  Think positive about your possible new venture and be aware of these myths that you may face when wanting to start your own business.

Myths about Starting Your Own Business

  • The market is over saturated.  While there may be competitors in your same field, they aren’t you.  They won’t talk like you, think like you, or have your exact skill sets.  There can always be room for a great business.  Always.
  • You need to wait until the timing is perfect.  Is it important to be prepared?  Yes.  Does every little detail have to be perfectly planned before starting your own business?  Not necessarily. Make certain you have all your legal aspects covered, a plan in place and have faith in your abilities.  If you wait, there may never be a perfect time.
  • Having more money means more power.  Wrong.  While it may mean that it gives you options, it doesn’t mean that it needs to hold you back from starting your own business.
  • Being your own boss is simple.  Tread lightly on this one.  Being your own business is awesome, but it’s also demanding.  Don’t kid yourself into thinking that you can be hands-off and let your business run itself.  It doesn’t work like that.  A successful company is only as successful as it’s owner and boss makes it. It’s hard work and takes commitment.
  • If you own your own business, you’ll be working constantly.  This is actually entirely up to you.  You can decide if you want to have operating hours that you work, and then hours that you are closed.  No one is making you work long hours but sometimes they do happen. Set Goals and Boundaries to help you achieve your ideal work day.
  • Being a one-person show is stressful.  Who says that you have to be a one-man show?  Ask for help, research how to be more efficient and find ways that you can incorporate the help of others into making your business a success. There is a lot of free and paid professional help out there, find what works for you.
  • Starting your own business means that you can spend the majority of your time vacationing while earning passive income.  Wouldn’t that be nice if that was an instant thing?  I’m not saying it can’t ever happen, but it takes a ton of work to get to that point where your business is automated.
  • It’s not necessary to register your business with the state.  Pump the brakes on this one a bit and do your research.  Contact your local agencies to find out your requirements when starting your business.  From Day 1, you want to ensure that you are in compliance!
  • You can’t start your business this late in your life.  Say what?!  There is no age limit or time-frame for being able to start your business.  You can be young, old, male, female, educated with a college degree or not…there are no rules when it comes to starting and owning a business.
  • Your business idea needs to really be “out-there” to stand out.  Not true.  The success of many businesses is just the plain fact that they provide a great product with awesome customer service.  Simple.  Be True to You! That’s unique in itself, don’t you think?

Starting your own business is an exciting thought.  If you find that you are truly interested in moving forward with your business dreams, don’t let the myths of the world stand in your way.  There will always be those out there who try to side-track others from success.  Each time you are hit with a negative, respond with a positive.  You have the ability to start your own business.  You have the knowledge to make it happen.  You can become a business owner if you truly put your mind to it.  Those myths don’t hold a candle to your future business success.

Looking for some uplifting people to learn to save and oh yes, earn with? join us over in Barefoot Budgeting on Facebook or follow all our great pins on Pinterest!   Don’t forget, check out some ways to earn for inspirations!

I believe in you, now your turn to believe in yourself!  Time to take a deep breath and go for it! 


business myths

Hannah R

Hi, my name is Hannah and I'm the founder of Barefoot Budgeting. This site is dedicated to one thing... helping you! Whether it is making a budget, saving money using DIY projects, or even saving by helping you with my favorite recipes I will cover it all! If it helps you save money in your life I want to help!

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