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Common Myths of Starting a Business

Many want to start a business, but find that actually starting one is not easy. Some are scared of venturing on their own, while others doubt whether they have the ability to run a business.

A new book entitled “What’s Stopping You? Shatter the 9 Most Common Myths Keeping You from Starting Your Own Business” by Bruce Barringer and B. Duane Ireland explores the various reasons that prevent people from starting their own businesses, then provides a reality check to address these myths.

According to the authors, here are the common myths of starting a business:

1. It takes an extraordinary person to start a business.
2. Starting a business involves lots of risks.
3. It takes a lot of money to start a business.
4. It takes a great deal of business experience to start a successful business.
5. The best business ideas are already taken
6. No one can compete against Wal-Mart and the other big box retailers.
7. It’s almost impossible for a new business to get noticed.
8. The Internet isn’t what it was all hyped up to be.
9. It’s easy to start a business, but it’s difficult and stressful to grow one.

The authors did a great job capturing the fear and anxiety many would-be entrepreneurs feel that make them stop in their tracks. I agree completely with their list. When you’re starting a business — especially if you quit your job and everything is on the line — it is hard to avoid self-doubts or just plain feeling scared.

Are there any other you’d like to the above list?