Myths & Misconceptions about startups! [Building a successful company takes far longer than one night.]

The growth of entrepreneurship is a sign the economy is doing well. But the more new businesses there are, the more old, often untrue ideas about startups propagate. Starting from lifestyle and innovation to fame and fortune, myths are found across the spectrum of startup culture. Staying real, and separating fact from fiction can help entrepreneurs navigate the challenges of starting a new business while staying grounded.

“You are never too old to set another goal or to dream a new dream.”

Myth 1: Follow your bliss, and success will follow..

The world is always going to have problems. While having a passion for something is great, having solutions for those problems is often a much more practical way to sink the teeth into a new business venture.

“What is now proved was once only imagined.”

Myth 2: Innovation is King!

Being first isn’t necessarily the ticket to success. In fact, according to me followings in the footsteps of others is often the best way to go. A challenge that some entrepreneurs don’t consider is that innovative, never-before-seen products and services often stand alone. Products that improve on existing solutions can leverage customer’s awareness and contrast themselves against what came before them. Innovation is important, but as companies like Apple have proven repeatedly, iteration is just as valuable.

Myth 3: Investors will flock and ensure success..

The highway of new ventures is littered with the remnants of businesses that started with tons of seed money but ran out with little to show for it. Doing more with less and being careful to take on investors when it makes sense allows to grow and mature at a more sustainable rate.

“Social media is not just a spoke on the wheel of marketing but also becoming the way entire bicycles are built.”

Myth 4: Massive reach on social media!

A great way to engage those interested customers in the wild west of social media is by reaching them through micro-influencers. Unlike celebrity influencers with their hundreds of thousands of followers, micro-influencers have a couple hundred to a few thousand followers. Even though they have less popularity and aren’t as well known, they have a considerable advantage. By taking advantage of a micro influencer’s more niche audience, one can target product precisely to desired audience.

Don’t stop Dreaming ever!

Myth 5: The dream of overnight success!

The dream of overnight success is just that — a dream. Most successful startups took years to grow into the businesses. Companies and products like Twitter, Dropbox, WordPress, Airbnb, Starbucks, Instagram, Facebook, and TechCrunch are all great examples of massively successful companies who took the slow and steady approach to success. Many of the most successful startups understood that the startup path is about the journey, not the destination and they took the scenic route.

Now lets Wrap Up, I will not make it a boring one!

It’s not that overnight success isn’t possible, or that one shouldn’t be passionate about business, but one must be equipped with the reality of starting own business: it takes time, hard work, and a healthy dose of grit. If there is right mindset and reasonable expectations, there’s no reason that one can’t get started on chasing business dream today!

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