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Tuesday, December 2, 2014

Top 12 Business Myths

Dec. 2, 2014, by CathyHarrisSpeaks.com

1. You can’t start a business without a lot of money: Most businesses are started with private sources such as divorce settlements, child support payments, unemployment insurance, income taxes, 401K’s, etc. While the amount of money varies depending on the type of business (part-time, seasonal, moonlighting, etc.) you are trying to start, the average entrepreneur starting a one-person business can easily get underway on a shoe string budget of $100.

2. There is grant money out there to start or expand a business: We've all seen the headlines: “Millions in free government money for your business.” Late-night infomercials, reference guides and websites promote the availability of grant money to entrepreneurs for starting and expanding businesses. Does it sound too good to be true? Well, it is! Generally, cities, counties, school systems, and other non-profit entities are the groups who receive grants.

3. You can get grant money to start a non-profit corporation: There is a lot of misinformation when it comes to non-profits and grant money. If you decide to move forward with this venture go in with both eyes opened. Only certain groups are getting this grant money.

4. There is grant money for women who want to open up businesses: If you seriously think someone is going to give you money because of your “gender” then you are sadly mistaken. The Small Business Administration or banks will not give money to women or men unless they meet a certain criteria.

5. Business plans cost a lot of money: Actually you can write a business plan for free by using the Internet; reading books; and attending low-cost seminars and workshops for $40 to $60 through the SBA.govorSCORE.org.

6. You have to have a college degree to open up a business: Many people think people with college degrees are the only ones that can start businesses. If they had conducted their research, they would have known that even young people -- as young as 5 years old can become a business owner.

7. You have to clean up your credit before you open a business: It takes one year or longer to clean up your credit. For many it’s much longer than that. So you definitely do not want to wait that long to start a business.

8. If you build it they will come: The movie “Field of Dreams,” starring Kevin Costner, illustrates one of the biggest “business killing myths.” Many business owners believe that once they open the doors to their business, then customers will simply pour in. This typically doesn’t happen. If you do not market and sell your services or products, not only will they not come, but they won’t even notice.

9. Do what you love and the money will follow: I don’t care how passionate you are about a particular business, unless somebody’s going to want to buy what you’re selling, there’s no point in doing it.

10. You’ll miss the security of a job: Is owning your own business less secure than working for somebody else? Jobs don’t necessarily provide more security especially in these days and time and this weakened economy.

11. If it’s such a good idea, somebody would have thought of it already: Uncertainty is a big part of starting a business. Closely related misconceptions include the one that says you must keep your business idea secret for fear of “copycats.” That leads new entrepreneurs to be overly protective and cause them to miss opportunities.

12. Now that I have my own business, I won't have a boss: When you open a business your customers will become your boss. There will be deadlines you need to keep and meetings and conferences you will need to attend.

Cathy Harris is known as The Empowerment Guru and is the author of 21 non-fiction books which covers topics on family and community empowerment, health, youth and adult entrepreneurship, writing/publishing, workplace discrimination (sexism, sexual harassment, sex and race discrimination), whistleblowing, law enforcement, government, domestic and international traveling, politics, media, beauty/self-esteem, car buying and selling for women, aging/retirement - just to name a few. Her books and articles are full of content-rich material to help anyone get back into the driver's seat and are available at http://www.AngelsPress.com.

Cathy Harris, Speaker, Author, Trainer
Angels Press, CEO, President, Publisher
National Non-GMO Health Movement
P.O. Box 19282
Austin, TX 78760
(770) 873-2072
www.CathyHarrisSpeaks.com (Lectures, Seminars, Workshops)
www.AngelsPress.com (Empowerment and Publishing Company)
www.TheCathyHarrisStory.com (The Cathy Harris Story)

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Cathy Harris is an Empowerment and Motivational Speaker, Non-GMO Health and Wellness Expert, Self-Publishing and Business Coach.