So many people call themselves entrepreneurs these days that you hear a lot of different stories about what it takes to get a business off the ground and up and running. As with any other industry, a lot of myths get spread about entrepreneurship that simply aren’t true. In this article, we break down some rumors about the entrepreneurial world that have gained steam, and we’ll tell you why they’re plain false.
Myth #1: Failure is a Bad Sign
No entrepreneur on the face of the planet experienced only smooth sailing on his or her path to becoming a business owner. You should cock an eyebrow at anyone who claims this. Failure is something that is to be expected and welcomed when pursuing any large goal. It’s an excellent opportunity to learn and improve, and in the entrepreneurial world, it’s something that happens regularly. Making a few big mistakes in your business by no means ensures its failure. If someone tries to convince you that your business mistakes mean your business is doomed to fail, ignore them, and keep working at it.
Myth #2: You Should Follow in the Footsteps of Other Startup Founders
While you should absolutely heed the words of wisdom of people you admire who have walked a similar path before you, don’t fall victim to the belief that all entrepreneurial journeys look the same. There is no one-size-fits-all solution for turning a startup business into a Fortune 500 company.
Instead of believing that someone else’s success also determines yours, try to take ideas from all sources. Films, books, podcasts, and other entrepreneurs can all offer great insight into what makes a business great. Take the words of wisdom that resonate with you, and channel them into building your own unique company.
Myth #3: Only Hire People Who Can Take Orders Well
Your employees shouldn’t be like a group of minions who mindlessly complete tasks simply because you said so. You want employees who are passionate go-getters and enthusiastic self-starters. Hire someone you could imagine being in your own shoes, or even being your boss! These are people who have the creative vision and positive energy to secure a position in your company. Choose these individuals, and then create an environment in which they can make their own decisions and channel their creativity in a positive way.
Myth #4: Culture Isn’t as Important as the Bottom Line
Wrong again. Company culture has a direct impact on your bottom line. No matter how big or successful your business gets, never lose sight of that startup environment filled with excitement and positivity.
To maintain this culture, organize team-building activities like a company retreat or a day of volunteer work. Keep those positive working relationships going strong. Don’t forget to build up your employees by noticing their achievements and encouraging them to keep striving for higher goals.
Don’t fall for small-business myths that people pass around without any real understanding of the entrepreneurial world and lifestyle. For more guidance on achieving your small business goals, visit www.biz2credit.com.