3 Misconceptions About Starting A Business

Business

When people about to start a new business, they could feel motivated and energized, but can they also feel vulnerable and desperate at the same time. Some people could also have erroneous belief that they can earn a lot of money with very little effort. Family member and friends could suggest business models that can work and provide decent income. It is quite easy for us to get affected by so many misconceptions that can hamper the progress of our business or even harm it. Any businessperson would like to obtain loads of money and they are eager to quit their day job. Before making any drastic transition in our lives, it is important to uncover some misconceptions.

  1. We are our own boss: Not necessarily, we actually still work under others if we don’t create our own products and services. When we choose to work independently, it is important to be aware of at what extent we are being independent. Although we could gain profit by selling products, we could actually work for others by helping the real manufacturer to sell their products. Although we have a complete ownership of our own store, we still depend on others’ products. It is acceptable to be resellers, but we should make sure that we are working with trusted producers, especially major, international brands that won’t cause problems in the future. As long as we have good customers and producers deliver good quality products steadily, we should consider it acceptable to be a reseller.
  2. We have more time to spend with our family: When we have our own business, we may see our family members more, but there’s no guarantee. Actually, we often see businesspeople who can’t spend more quality time with their family. Because it’s their own business, they will need to do more works, compared to when they are just ordinary employees. Being around our family when working could sometimes work against us and reduce the quality of our work. There are some ground rules that we should establish initially. We should discuss all goals with our family to give them a clear understanding on how they should treat our new business.
  3. Our revenue will be bigger than current pay check: It is a common assumption among employees who feel dissatisfied with their salary. People who want to earn more, they could start thinking about starting a new business. They could think that it is possible to get more money by spending much less time. It is possible to earn more by having a small business, but it is important that we have a passion. We should have a belief our own products and we have one hundred percent love. Our motivation should be big enough that we can convince others to do the same. Our business can also be less stable than our current job, especially because we have just started it.

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