Updated: Jan 22, 2019
As a small business owner myself, I’m always happy to share why starting your own business is such a great thing. However, I’ve noticed that sometimes people assume they do not have to put in any work to have a successful business. The truth is that no one can really prepare you for all the work and effort that goes into starting your own business. Your journey will be your own, as long as you put the effort in. Read to see 4 of the common myths about running a business.
You have more free time
What many people don’t understand is that when you work in a 9-5, you get paid regardless of how well your company is doing. This is not the case when you run your own business. At the onset of your business, it is important to make sure you set a solid foundation for your success. As your business grows and you are able hire employees and delegate work, then you may find yourself with a more flexible schedule.
You have to constantly hustle
Working hard doesn’t mean you stop caring about your family or ignore your mental or physical well-being. Even Gary Vaynerchuk emphasizes the importance of eight hours of sleep and giving yourself time to rest.
Being a business owner means you are going to have to make important decisions. Those decisions will be a lot easier if you are thinking clearly because you are getting enough sleep. Hard work is admirable but working yourself to the point of total exhaustion isn’t.
A great idea is enough
Well, we have all have a great idea and by now we all know that is never enough. Do you have what it takes to execute the idea and make a difference. Look at me, my own career as an event planning coach. I love helping people, so this career really suits me, but it certainly wasn’t an earth-shattering new idea. There have been millions of others who have gone down this path before me and there is room for many more.
Spend it all to make it all:
Please do not gamble away your life savings or your children’s college fund on the blind hope that a business idea will pan out. It is important to have a plan, and a coach to determine how you can start a business without compromising other goals that you and your family have set for your future.