Gregory Mends | Small Business Myths Busted in Kansas City

 Small Business Myth #1: "You Need lots Money to start A Business."

This depends on which avenue you decide on to require, whether you desire a physical store or an internet marketing. If you wish a brick and mortar office, where people can visit to determine and touch your goods, then the value is on the average $25,000 a year. 


Not too many of us have this sort of cash just sitting during a bank, awaiting them to use for a dream business, however, there are government programs out there that may assist you in financing your business with the correct paperwork and business plan.


If you choose to settle on an internet business, be prepared to try and do your research. Online businesses can cost anywhere from some hundred dollars a month to a lifetime membership of $100K. 


Enrolling in an exceedingly company that markets health products goes to be lots cheaper than enrolling during a company that markets helicopters.


Choose an organization that you simply have personal interest in pursuing because they provide a top quality product or business, a pretty municipal government and therefore the membership doesn't put a financial burden on you.


Small Business Myth #2: "You Need plenty Of Experience To Run A Business."


You move to school to urge employment. You run a business to be told a business. There are many groups in your community that meet to debate business methods and procedures. 


If you're fascinated by starting a business that interconnects with property, then join a REIA group. LinkedIn.com could be a great website to satisfy, communicate and brainstorm with great business ideas with proven business professionals. 


There are many magazines, books and websites at your disposal which will help build your business. However, you do not want to over-educate yourself to the purpose where you're spending longer learning and not enough time running your business.


Small Business Myth #3: "It Takes lots of your time to control A Business."


With just four or five hours daily, you'll be able to operate a web or physical business. It depends on what quantity time you're willing to devote to your business and sticking to a schedule you create. you'll not be fickle, fudge facts or bend the principles when it involves your business schedule. 


If you say you are going to devote a particular amount of your time to your business, then the instant you step into your business or central office you do not pack up until your set time is met. this does not mean checking personal emails, reading the paper or the other non-business related activities. 


Small Business Myth #4: "9 Out Of 10 Businesses Fail."


I've seen this statistic by exaggerated as high as 97%. On the tiny Businesses Association website, http://www.SBA.gov, the important statistic is 20% of small businesses succeed between their first and third year, meaning one in five people are successful, which is healthier than one in ten. 


If you're ready to remain steady or perhaps afloat after five years, that failure rate drops to 50% and you've got further solidified yourself as being an entrepreneur and a part of the commercial community.


Small Business Myth #5: "You Need plenty Of Supplies And Equipment."


You don't need a giant office space with a flowery desk, an enormous leather chair and every one the new technology available to own a business. You do not need all that clutter to run a business. 


You'll be able to accomplish even as much with a mobile phone and a pad of paper. maybe a laptop and fax machine. Immediately once you begin a business, don't stop for any price.


All you wish is determination, commitment, drive and also the willingness to succeed and you may never fall prey to those five small business myths.



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