Top 10 Myths About Owning Your Own Business
Owning your own business can be great, as long as you go in with your eyes wide open. Here are 10 common misconceptions:
1: I’ll be my own boss.
Your clients become your boss, and can hire and fire you like any corporate superior.
2: I’ll have more free time.
You’ll likely work more hours until your business is ready to thrive without you.
3: It’s just me…I don’t need a business plan.
Every business needs one. Without it, you’ll just drift like a leaf in the wind.
4: I can do it all myself.
This is the quickest route to burnout and business implosion. Build a team.
5: If I do good work, I’ll be successful.
True only if people know about it! Marketing will determine whether your business sinks or swims.
6: I’ll make more money.
This isn’t a given. You may gross more, but you’ve also got to cover more expenses and often put in a lot more time.
7: I’ll have more control over things.
Maybe. But between client needs and economic trends, you may not have as much control as you thought.
8: Bigger is always better.
An efficient micro business may be all you need to have the lifestyle you want.
9: I should work doing what I love.
Yes, love your work. But just because you love making jewelry doesn’t mean that this is the right business for you.
10: It’s too hard.
Owning a business takes dedication, persistence and lots of work. But with the right support and planning, it can be rewarding.
Did you find this article helpful? There’s more where that came from—here’s more!