4 Myths You Should Know Before Going Solo

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By Ana Margarita Olar | Executive Chronicles

So you want to be “the boss”. Creating a business may not be as good as it sounds. But, starting one can give you unexpected circumstances that you may not be prepared to deal with. Here the myths that you should learn to debunk before going solo:

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Myth # 1: Customers will eventually come

Fact: Going solo is a hustle

If you think that opening a store or services is enough to make customers come; you have to stop believing this myth. You need to work on your business, strategize your business plan, and market your services all out. Send cold calls and Email, learn to expand your network, and invite people to try your services.

You need to hustle. Building a business is a tough job; making the business work is tougher. So get ready because you got a lot of works to do.

Myth # 2: You need a lot of money to start

Fact: Yes you need money, but not as much as you think

So, how much money do you really need to start a business and go solo?

It depends on the type and model of business that you want. Robert Kiyosaki, Author of the “Rich Dad, Poor Dad” said that you can make money out of an idea. An example of this is selling a product from a nearby store and earning a commission is a great way to start a business without a capital. There are books and seminars that can give you several ideas on how to start a business with small capital. You can check the Lean Startup by Eric Reis.

Myth # 3: You have to quit your job and go 24/7

Fact: Don’t burn bridges, build more instead

Many start-up entrepreneurs find it exciting to quit their job, only to find themselves hunting for another job. If you have your current job, you don’t need to quit at once. Resigning from your job to start a business needs planning. This is so especially if you have a family to support.

You don’t have to hate your boss or co-worker. Instead, you have to build more connections at work. Why? Because the people next to your cubicle maybe your first customer. They can help you spread and market your business.

Myth # 4 You need a big business plan

Fact: You need an actionable plan 

Many entrepreneurs are bogged down thinking that they need this big, complex business plan before starting. In most cases, you don’t have to. What you need are comprehensive, simple plan that you can start at once. Action leads to clarity. The more you act, the more you will know how thing work.