Hi guys, We are going to discuss the 5 startup myths that hold you back from growing. When it comes to startup, there a lot of myths that can stop you from growing.
We all know that it is not easy to begin a new startup and getting successful in it, but we also know that it is not impossible. If we put our efforts, then we can achieve anything in our life, and many famous personalities have proved this.
There are many myths about a startup, but in this article, we will discuss the five major myths that are false. So if you are thinking of doing a startup or you are already in it then read this article till the end. This article will be beneficial for you to grow in your startup.
1. Waiting for Right Time
No time is the right time to begin your startup. Waiting for the right time means you will never start with your business. Instead of waiting for the right time, you should get up and put one step forward to start your business.
As soon as you began with your business, more and more opportunities you get to grow. If you wait for the right, more and more opportunities will be lost from your hand.
If you even fail in your business, then also it is good to get fail in early-stage as no one gets success in the first try. So if you fail, you have a lot of time to understand your mistakes and again began with your idea. So instead of complaining about the surroundings or other things you should start with your work and move one step forward.
Each day is precious for your business. If one day is lost, then that means many opportunities that can improve your growth are lost. So every time is the right time.
2. You Need Investors
When it comes to startup, most of the people think they need investors, to begin with, their business, but in actual, it is not valid. You only need investors if you have a big idea that needs lots of money, to start with. Moreover, investors will only invest in a huge startup that can generate a massive amount of money.
Moreover getting Investors means sharing your half income with the investors. All the hard work you do to earn that money will be shared with your investor for the lifetime.
Now if you are thinking of taking a bank loan instead of finding an investor, then also it is a bad idea. As if you take a bank loan, you have to share your money with the bank to repay the loan. But still, if you need money for your small startup, then you can go for a bank loan.
So I would suggest you if you are starting with your business and you don’t need money then you should avoid bank loans and investors. But in case if you need investments for your business, then you can read our article How to Fund Your Startup Business (Here you can internally link that article).
3. You Need New Idea
Many people think that to begin with, a new startup they must need a new unique and innovative idea. But it is not entirely right yes if you have a unique idea then chances of getting will increase, but this doesn’t mean a unique idea is necessary.
Many startups don’t have a unique idea, but they are still doing well so you can also do that. Tech Startups mainly consider this myth. As they think they need a new idea that can change people life but in actual it is not true people are only searching for products that can provide the value of money they are paying for the product.
Instead of finding something innovative, you can find ways to improve the already solved problems so you can give something better to your customers. This is a good idea, to begin with, your startup. Many startups use this idea and get success in it.
4. You Need to Quit Your Job
This is the myth that is stopping many people, to begin with, their startup. They think that they must quit their job and give all time to their business, but in actual it is not true. If you follow a proper time table to work on your startup idea, then you can easily achieve success in it.
There is no need to quit your job to give time to your startup. Even if you have a good saving then also you should continue with your job until you get a good result from your startup.
Once you are earning the amount of money from a startup that is satisfying your need, then you can quit your job and give the full time to your business. As now if you work full time on your business, your business will grow with 2X speed.
5. You will get Success Overnight
This myth will come in mind of all the persons who are beginning with the startup. We all start with our startup and dream that we will get success very fast. But the reality is different.
To get success in any business, you need to do a lot of hard work. All the successful business have faced a lot of problems and still facing a lot of problems. But they are continuously improving them self so no obstacles can stop them.
Hard work is the key to a successful startup. So instead of dreaming of overnight success, you should put your efforts to achieve that dream. The dream of getting success will never come true until you do your best to accomplish that.
I hope you guys enjoyed reading this article. If you guys found this article helpful then don’t forget to share this with your friends.