If you’ve decided that it’s time to start a small business of your very own, then you’ll know how exciting it all is. Unfortunately, you’ll also know how terrifying it can be. A business, regardless of the size or shape, is a huge responsibility, and it’s stressful to know that any one of your decisions could have catastrophic consequences. What makes the situation even more difficult is the high number of small business myths that you have to separate from the facts. To make your life a little easier, here are four common myths you can ignore right away.

1.You Must Rent A Building

One of the most expensive small business myths is that you always need to buy or rent a building to work out of. Of course, this is the case for some businesses, like a yoga business or yoga studio, for example, but for most, it’s completely unnecessary. More often than not, your home will suffice as a workspace, at least until you need the extra room a building provides. If your house doesn’t work, then consider working out of a coffee shop, cafe, library, or coworking space.

2. A Great Product Equals Success

You may have all of the ingredients of a great product or service, like a clean, and calm environment for a yoga class, or E Leather for bus seats, but that doesn’t mean that it’s going to sell itself. If you want to get your brand noticed and beat the competition, then you also need to invest time and money into your marketing. Unfortunately, great marketing won’t save a bad product either, so you need to find a balance between the two.

3. The Owner Should Do Everything

Your business is your business, but that doesn’t mean that you have to personally complete every single job possible. You’ve probably thought about bringing on help in the future, but don’t think that you can’t delegate some work in the beginning too. There’s no point in burning yourself out completing schedules and market research when there are more important things to do, so consider what you could start outsourcing and give yourself a break.

4. Winging It Is An Option

Running a small business means that you have to take risks, but that doesn’t mean that you should take these risks without thinking them through properly. If you think that you can wing every decision you make, then you’re wrong, because it will come back to bite you. You need a plan for almost everything you do in business, so make sure that you’ve got one before you jeopardize everything you’ve spent all this time and hard work building up.  

As all entrepreneurs know, starting and running a small business is never a simple job. However, that doesn’t mean that it has to be quite so difficult. To make your life a little easier and help you to avoid you making any major mistakes, make sure that you remember the small business myths above, and be on the lookout for anything else that doesn’t seem quite right.

Featured Image Source: From Pxhere

*This post contains affiliate links.