5 Myths that can destroy your business before starting.
Usually starting the business of our dreams is a decision that is not taken lightly, since, as we well know, starting a business today is not an easy thing and it is our duty as future entrepreneurs to be aware of all the challenges that this entails and not to be carried away by what seemingly may seem like “good ideas”, false concepts or “good advices” that we hear.
Here are some myths that can spoil the business of your dreams.
“Not having competition is a good thing”
This is a very common idea when starting your business, but it is completely false, just think it this way, it is very likely that if you do not have competition in that niche is because there is no market, there are millions of people on the planet and a large part of them offer a product or service, it is unlikely that a niche market is not already being served, so before making a decision find out well about the market niche you are thinking about, investigate your competitors and if there is not, investigate why there are not.
“With a good idea is more than enough“.
False, a good idea or a millionaire idea is not enough, a successful business needs a good plan and business model, a good operation, clear and concrete objectives, etc. Of course a good idea is not too many, but you can be sure that is not everything.
“A financial model assures me nothing“.
It is true that a financial model is not something accurate, nor does it assure you that the business will be a success, but it is very important to have a projection of the finances of your company, this allows you to have a more real and clear view of your investments and profits, is a lot of help for decision making because it gives you the certainty that what you are doing is going well, it also helps you a lot if you think about asking for a loan when starting your business.
“My opinion is the most important because I am the boss“.
Mmm … if you think this, maybe you should re-consider it. Always listen to your work team, everyone’s opinions are important, as an entrepreneur you should always be willing to learn and listen and always remember that the most important opinion of all is that of your clients.
“I have to have a lot of economic capital to start my business“.
Quiet, yes, you need capital to start your business, but you do not need exorbitant amounts, remember that as an entrepreneur you must be aware that starting a business requires your effort and your ability to think, try to analyze what you really need to start your business, and how you can optimize your expenses in the best way possible.
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