123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Business >> View Article

If Starting Your Own Business, Here Are Ten Myths

Profile Picture
By Author: Chris Brown
Total Articles: 1124
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Many solo entrepreneurs believe certain things about starting their own business that are just not true. Continuing to believe in these myths can lead you down the path to destruction. Here are some of them:


Since I'm just working for me, there is no need for a business plan. Would you go on a trip without a plan? Would you get married without a plan? Plans are good. They will help you get focused and stay that way. A good business plan will help you to think through all the aspects of your business and see you on your way to success.

I'll have to invest in expensive software to get a good business plan. Nope. Software may help, but you don't need it. How do you think all those businessmen succeeded before the invention of the computer?

Then I'll need to hire a consultant to write my business plan for me. You are the one who knows what you are going to do. If not, then all the consultants in the world can't help you. Try a coach or mentor to guide you, rather than do things for you.

I should get one of those business plan templates that sound really complicated. Complicated is good, right? ...
... Wrong! Simple is better.

I need to have everything perfect before I start. If you wait that long you may never start. Fix it as you go. Just make sure the major points are as good as they can be.

If I don't do everything my business plan says I'm a failure. Sometimes detours or changes can be beneficial to your long-distance plan. Don't sweat the small stuff.

My business plan must be typed, at least 50 pages long with a professional looking cover. You can write it in hieroglyphics on the wall - so long as you can understand it and access it when you need to.

I only need a business plan if I'm getting a loan. Would you invest in any business without seeing a prospectus? You'll be investing in this one! Just do a budget and run it by your accountant.

If I have a business plan in my head - that will do. But can you remember it? Can your friends give you advice by reading your mind? Can your accountant?

Friends and family are all I'll need to give me advice. Could a city man tell a farmer how to run his farm? Only if your family are accountants and market research experts will they be qualified to give the right advice.

Total Views: 230Word Count: 425See All articles From Author

Add Comment

Business Articles

1. Catering Services In Noida For Every Occasion
Author: Catering Services in Noida

2. Leading The Way In Business Continuity Management System (bcms) In Uae And Dubai
Author: kohan

3. Manila Rope: A Versatile Solution For Various Industries In The Uae
Author: yasirsheikh1891

4. Exploring Asian Clothes Online: A Guide For Uk Shoppers
Author: Dazzle and Bloom

5. Maximizing Your Email Marketing Roi: A Comprehensive Guide
Author: tim seifert

6. Spray Paint: The Ultimate Solution For Versatile And Efficient Painting
Author: yakubali7842

7. High-quality Thrust Needle Roller Bearings: Essential For Reliable Performance
Author: psbearings

8. Web Design Company In Coimbatore
Author: cp

9. Top Needle Roller Bearing Manufacturer: Quality You Can Rely On
Author: psbearings

10. Discover The Best Rfid Tags For Your Industry Needs At Id Tech Solutions
Author: Shivam Kumar

11. Translation Company In India
Author: Lingosolution

12. Why Perlau Gwyn Dental Care Is The Top Choice For Dentists In Cardiff And Teeth Whitening Services
Author: Rebecca Brown

13. Hybrid Inverters & Their Diverse Applications
Author: blogswalaindia

14. The Role Of Solar Panels In Sustainable Living
Author: blogswalaindia

15. Solar Energy And Battery Storage: What You Need To Know
Author: blogswalaindia

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: