A rising number of people are abandoning the 9 to 5 for the self-managed life of an entrepreneur.
Some of these people get their idea off the ground and go great guns but there is a growing number of wantrepreneurs, that despite best intentions, never seem to get moving. The desire to start a business demonstrates a passion and drive for freedom and creation but often the implementation of the dream is hampered by 5 common misconceptions about starting a business.
Misconception 1: You need to plot your journey to success
The first big mistake people make is believing they need to know every step ahead of time. You don’t need to. If you think of success as a staircase, you only need three fundamental basics: to know where you want your staircase to lead you, to plan your next step, and to remember that your staircase goes up and comes down.
In fact, trying to plot out your entire route from the first step can cause you to become fixated on a certain expected outcome. Allowing each step to lead to a new and unexpected result keeps you open to great possibilities.
The anxiety that goes with plotting out your entire success story before you have even started often leads to analysis paralysis – you start anticipating problems that don’t exist yet. Who wouldn’t find that intimidating? Instead, anticipate only your next move and work at preparing yourself to succeed at it.
Misconception 2: You need a groundbreaking discovery or concept
Entrepreneurs don’t need a brilliant idea that has never been done before to make them successful.
Instead, they find a way to do what is already being done. The innovation is about finding a way to do it differently, or better. Much like a game of scrabble, success is about building on someone else’s start. Elon Musk isn’t the pioneer of rocket-building industries, he found a way to do, what the Russians and Chinese have been doing for ages, cheaper.
He wasn’t the first person to create mobile banking by creating PayPal, he just revolutionised a pre-existing system by allowing people to bank via their email addresses. An existing structure that offers improved user-friendly features, and that is cheaper, or simplified.
Wantrepreneurs expect a world-changing idea to hit them. Instead, find an alternative approach to an old concept to bring something fresh to the market. Revolutionize something people already use.
Misconception 3: It’s lonely at the top
Entrepreneurs know they can’t do it alone. A successful endeavour is about finding the core concept.
Don’t limit a business idea to what you can do yourself.
Be prepared to outsource the aspects that are not your strengths. Entrepreneurship is about identifying your strengths, acknowledging your limitations, and coming up with ways to enlist the help you need.
Managing a business is like steering a ship – the entrepreneur is the captain. The captain understands the importance of a strong crew, each member has his own important role which plays to his strengths.
Misconception 4: Network marketing will harness your success
The negative impact brought on by some network marketing groups has a ripple effect in today’s society – dating all the way back to the 80s.
The promises given by network marketing groups create false expectations that the group will build your success. The reality is: network marketing makes one per cent of its members rich (those at the top), it makes five per cent successful (still in the upper tier), while 94% of members do the work or drop out altogether.
In effect with network marketing, you’re a salesman, not running a business.
You’re working to make someone else rich, which is counterproductive to your desire to work for yourself.
Misconception 5: Misreading universal signs
People misread universal answers to questions around starting a business. People often think that challenges or things going wrong is a sign that it’s not meant to be. In fact, this is a major misconception.
The universe gives us hurdles, and for good reason. It is important to remember that the universe has no say in what is or is not, meant to be. We are the ones who manifest what we want as our life experience. The universe is there to respond to our requests. Hurdles are the universe’s way of asking how determined you are. How sure are you that you want this? Are you willing to fight or work for it?
Generally, five per cent of those who set out with a goal, make it. One per cent make it super big and successful. Anyone can enter that five per cent success statistic, it’s just about persevering. It doesn’t take old money, a large investment, or a miracle. It just takes a willful spirit.
The universe always falls in love with a stubborn heart – so be unrelenting about your goals.