In the past, the barriers to entry for starting a small business were high. You required a lot of money to get started, and you needed to be connected to the right people. Fortunately, times have changed, and with the rise of the internet and social media, starting a small business is more than just possible – it’s easier than you think.
Today, we’re here to bust some small business myths that might be holding you back from starting the e-commercebusiness of your dreams. You don’t need as much money to get started as you would’ve ten years ago, and you can reach a wider audience with your product or service than you might realise. Don’t let these myths stop you from taking the first step and starting your own empire!
SME shipping, storage and logistics services at Aramex
Myth #1: You’ll fail if you don’t achieve overnight success
Unfortunately, the reality of business is that it’s very rare to see results overnight, and it will usually take some leg work to get an idea or product off the ground. This is why it’s important to have patience and persistence in pursuing your goals. Rome was not built in a day, and neither will your business be. Don’t get discouraged if you don’t succeed immediately, because eventually, with enough hard work, you will get results.
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Myth #2: You need big bucks to get started
There are plenty of misconceptions about what it takes to start a business. Some people believe that if you don’t have enough capital, you won’t be able to get started. However, that’s just not true! There are ways to get start-up loans as a new business, whether from your bank or a venture capitalist firm. Don’t let the lack of personal funds stop you from starting your own e-commerce store – use the channels available to get the funding you need to get your biz off the ground.
Related article: 5 Things You Need to Know About the Rise of Social Commerce
Myth #3: You have to do it all on your own
As a budding entrepreneur, you may feel like you have to do everything by yourself. However, this is not the case. It’s important to have a crew of people around you who can help you with different tasks. Never underestimate the power of a solid team! Different people can serve different functions, and – believe it or not – there may be someone out there who can handle a task better than you. Remember, asking for help does not mean you are not capable of something. Utilising the people around you will allow you to work smarter, not harder.
Key takeaway
If you’ve been considering entrepreneurship but feel held back by some common small business myths, it’s time to set the record straight. Entrepreneurship is possible for anyone, no matter who you are. Times have changed, and there is now more opportunity than ever before to start a company of your own.
