Busting Business Myths – 5 Common Myths About Starting a Business from Home | Do you want to start a home-based business that lets you enjoy more freedom and work on your own terms doing something you’re passionate about?
Many entrepreneurs take too long to start their business or never feel confident enough to start, and it’s usually due to the following misconceptions:
- You Must Commit to Your Business 24/7
Entrepreneurs often find themselves drowning in their business. It’s easy to slip into this state if you’re working from home because there’s no separation between your personal life and business activity.
That’s why it’s a good idea to consider working out of serviced offices from time to time. They create a sense of separation that is key to establishing a healthy work-life balance and the prevention of burnout.
You need a rounded life to become successful, and you don’t need to subscribe to the idea of hustle culture.
- You’ll Need to Push Products onto Your Friends and Family
One of the most common myths about starting a business from home is that you’re going to become one of those creepy salespeople that are constantly pushing products onto your family.
The truth is that if your plan is to create a successful business, the main thing you need to do is build trust and relationships. Thankfully, pushing products onto your family and friends is not a part of that.
Just be authentic, and you’ll naturally attract the people that need your product or service.
- You Need a Large Online Following
Most people assume that you need a massive online following in order to create a successful home-based business. However, that’s not true. Even the most successful businesses with millions of followers started from zero.
It’s all about providing value, and value never has to be forced on people. The beauty of starting a business from home is that you get to do it your way.
Social media is about storytelling, so instead of pushing, simply share stories that matter and that relate to the value you offer. It may take some time, but your following will grow organically.
- You Need an Elaborate Business Plan
You don’t need a detailed business plan to start your business. A simple outline can help you organize your thoughts and attract investors without wasting unnecessary time writing a 100-page manifesto.
Successful entrepreneurs are decisive, so don’t waste months writing a business plan that you’ll only end up changing after you’ve launched.
No matter how detailed your business plan is, you can’t account for every possibility. As long as you’re able to adapt to new environments and situations, you can start with a simple outline.
- You Need a Lot of Money
While businesses do need capital, this doesn’t mean every new business needs to raise millions of dollars.
The most important thing is to do what it takes with what you have in order to make it. As long as you’re willing to invest the time, money, and effort it takes to find success, you’ve got as good a chance as anyone.
Pro Tip: You don’t need a lot of experience to start a business. Experience is just one little piece of the puzzle that can improve your chances of success, and the best way to get it is to dive in and start.
There is no one way to “correctly” start a business. So, if you have a great new idea, don’t wait – start now, and don’t let anything hold you back.