Business Ownership Myths

Each and every year people dream of having their own business. It is one of the dreams of nearly everyone at some point in their lives. When the unemployment rates go up the number of people interested in starting their own business also tends to go up. There are many beliefs about being a business owner that should be understood before a person begin chunking down cash and making commitments in to a business venture.

The belief that “If you do what you like then the business will be successful” is not realistic. While there is a better chance that you will be happy doing what you like it may not make good economic sense. Just because a person likes to plant flowers does not mean that there are enough people who are willing to pay someone else to plant flowers for them. This is where market research comes in. An aspiring business owner needs to be reasonably certain that there is enough demand for what they are offering.

“If you work for yourself then you will have more time for yourself” is another belief that does not stand up to scrutiny especially when first starting out. Expect to work long hours getting the business started. I have been a self employed home inspector for several years now and I can work well over 60 hours a week. There are a lot of tasks that need to get done when you are a solo entrepreneur. You may eventually be able to hire certain tasks to employees, however once again you need to make certain that it make economic sense to do so.

“All I need is to do is put up a website and the business will just come rolling in like crazy” We can dream it would happen like that. There are millions and millions of web sites out there on the internet. The difficult part is getting the website set up and designed so that when a potential client or customer of yours begins looking for what you are offering, that your website shows up on the first two pages on the web search. This takes knowledge and experience to get a website up quickly and optimized so that it ranks well on the search engines. A web site that does not rank well with the search engines is like having a sign out in the desert, not likely to be seen.

To increase your odds of having a successful business a person should find advise from an experienced business owner and learn how to market and to run a business. The advisor does not even have to be from the same type of business. Marketing is important for all businesses and the quicker it is learned the better.