|
HOME-||-
SITE MAP-||- RESOURCES-||- MAIN MENU
Ten Myths
About Starting a Business
1.
"I'm broke, so it's a good time to start a business." New ventures
drain bank accounts fast, so plan on having at least two year's worth
of income in addition to start-up costs, which vary depending on the
business. Then, you can devote all your time and energy without having
to hold down a job at the same time.
2.
"I need a little more practice before I launch my business." Many
people start new businesses based on their experience, but it's easy to
keep putting it off because you need "more practice." At some point,
you have to take the leap from "practicing" to "owning a business."
3.
"I hate being told what to do, so I'll start my own business." Like
it or not, business owners have lots of bosses — called
customers.
4.
"I'm not renting an office so I don't need much seed money." Make no
mistake about it: Even if you're home-based, you need lots of money for
supplies, desks, phone service, memberships, license fees, accountants,
lawyers, business cards, web designers, consultants and more.
5.
"I don't need a business plan." Every business needs a plan, but
don't worry about creating the "perfect" one. Life changes and plenty
of things steer you off track. Create a flexible plan and review it in
six months.
6.
"I don't need a marketing plan." Get one right away. You might have
the best product or service in the world, but it won't sell unless
people know about it.
7.
"My Web site will bring in lots of business." Cyber-marketing is
effective only if your ideal clients are found on the Web and you do
Internet marketing. It's not automatic.
8.
"I can do it all." Nonsense. Nobody knows everything. Take classes,
network, develop a support base and hire professionals. New businesses
take lots of time and energy. If you try and do it all, you'll burn
out. Take care of yourself, keep your energy level up, and try not to
spend every waking moment thinking about your venture.
9.
"My family and friends are all the support I need." Sure, they're
supportive, but they may only offer only warm and fuzzy feedback. Call
on objective parties to give you the absolute truth about what you're
doing right and wrong.
10.
"Starting a business will be a breeze. I don't need a lawyer I can just
copy some forms!" New ventures are almost
always harder than the founders anticipate and most business owners go
through an "I can't do this anymore" stage. The successful ones get
beyond it. Try and ride out the discouraging times and lean on your
support network to get you through. Call Ronald
J. Cappuccio, J.D., LL.M.(Tax), Attorney at Law, (856) 665-2121
BEFORE
you start your business.
|
