Every Small Business Entrepreneur Has Heard These Fallacies

When you started your business, everyone wanted to give you advice, right? You heard everything from “you’re a genius1 You can’t fail!” to “You never follow through with anything, you can’t possibly succeed,” and every comment in-between. People who aren’t small business owners themselves are always full of ridiculous advice for their friends that are taking the plunge into the business world.

For the sake of those currently trying to set up a small business, let’s examine some of these fallacies and put them to rest:

“All you need is confidence.” If only life were so simple! Rest assured that you also need a good education, plenty of capital, and a business mentor.

“You have always been successful before, so you’ll be fine.” Starting your own business is nothing like anything you’ve ever done before. It requires you to play many different roles and seek new business constantly. Previous success in the business world is no guarantee of success as an entrepreneur.

“You can always go back to what you did before.” If only. After trying to start a business and failing, you will be a different person. You may no longer be satisfied with your previous type of employment. In fact, you may have been out of that industry long enough that you are no longer qualified for your old work.

Don’t be fooled! Starting a small business is a wonderful endeavor, but it entails a great deal of risk, so be prepared.

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