Biggest misconceptions about starting a business

[FourCrossedWands]

1) You need some kind of education/course to be able to start your own business

False! Schools and courses are mostly waste of time and money. All informations can be found for free.

2) You need to follow your biggest dream and start your business in a specific category, otherwise you will never be successful.

False! You need to find a category that you are interested in, but more importantly, there must be very high demand for the skill/product.

3) You need to diversify and have multiple skills/products to be successful.

False! You need to laser focus on one single skill/product to be as effective as possible, otherwise you will end up wasting your time and losing money.

4) You need to have a unique skill/product to beat your competition.

False! You can copy your competition but become better/adapt quicker.

5) You need a large team of people to have a successful business and grow bigger.

False! A single person/smaller group can actually be more effective in solving problems/making the right decisions.

[Yimpa]

Nice advice! Do you own a business?

[FourCrossedWands]

Thanks. Yes I have an online business.

Edited December 31, 2022 by FourCrossedWands