Running a business is an experience that a vast majority of people never get to experience. Yet, somehow, it has become glorified as a better way to enjoy life. While it is true that business owners enjoy the lives they lead, it isn’t in the ways that we’ve glorified. Here are 10 myths about running a business.
- More Free Time To Do The Things I Love: Somehow, we fail to realize that running a business requires an investment of our time. In a lot of circumstances, you barely have time to grab a bite to eat or hang out with friends/family. Many times, your free time involves going over analytical reports, evaluating processes, handling payroll, and other tasks that you didn’t have time to complete during the day!
- If I Open The Doors, They Will Come: A lot of people think that as soon as you get the product or service ready to sell and the doors to your business open, that customers will magically appear ready to buy. The reality is that you have to market your services and products. People aren’t just going to be browsing the internet or driving down your street to find you. You have to find them first.
- Customers Will Appreciate What You Have To Offer: Customers are fickle -they are people after all. When you open your business, you think your product or service will be well appreciated. In some instances, this may be true. For others, you’ll find that you need to ‘sell’ your product/service to meet the problems the customer faces. You already have an idea how it will, you just have to make sure it does what it is intended to do.
- Get Rich Quick: The prevailing attitude is that business owners control vast amounts of wealth -and looking at the prices for some products and services, you can see where the idea came from. However, being a business owner is not equal to getting rich quick. Only in rare circumstances do business owners grow their personal wealth rapidly. Be realistic, you may not even get paid from your business within the first year or two.
- My Business Runs On My Hours: A lot of business owners laugh at this one. The idea that your business runs only on a few hours a day is completely false -particularly in today’s 24/7 world. I can’t tell you how many times I’ve had to burn the midnight oil to handle tasks that I didn’t get to during the day -and knowing I had to get them done by the next day. If you’re looking for work that is part time, you might want to consider McDonalds.
Running a business isn’t rocket science, but it’s no walk in the park either. Don’t be afraid to ask for help, do your research, and be prepared to roll up your sleeves and work. Enjoy the ride.
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Jason A Woodruff 