If you’re having a bad time at work, perhaps the boss is being difficult, being your own boss can really appeal. However, until you’ve been there, you don’t really know what running your own enterprise is like. Here are some small business myths, exploded for you to see the reality behind them.
You need money to start a business
This is quite simply not true. Providing you have enough to survive for at least six months without income, you have a chance. There are plenty of businesses you can start with little or no capital. When your business reaches the point where investment is needed, you go and find an investor.
Get it wrong and you lose your house
You only lose your house if you secure a business loan against it and don’t keep up the repayments. Re-possessing people’s homes get the banks bad press so even when they’re entitled to do it, they only do it when there’s no alternative.
No one would employ me again if I worked on my own
There is not one employer in the world that cannot benefit from employing entrepreneurial people. A spell of self employment can be a positive career move, demonstrating courage, resourcefulness and vision.
To succeed you have to think of something completely new
No! All the best businesses are those that set out to do something that’s already being done, but in a better or more effective way. Leave those quantum technological leaps to the corporations; find something you understand and do it better than everyone else.
I’m not sure if I have the skills I need
Nobody knows everything. Successful entrepreneurs hire in the skills they don’t have. They recruit the right people, use specialist providers or buy themselves some training.