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Some of the Common Myths of Entrepreneurship – You Need Significant Start Up Capital
Rebecca Appleton • 28 January 2020
Entrepreneurship and independent career paths are more popular lifestyles than ever.
With more interest in the subject and an increasing amount of social media representation from would be entrepreneurs and self-proclaimed gurus, the water is getting a little murky. This is how industry myths are formed and how they spread.
Sometimes it’s also a kind of scare tactic. Those who are struggling to make it independently trying to put off others from doing the same with their nightmare stories and mainly opinion-based insights into the world of would be entrepreneurship.
Don’t allow yourself to be put off by the myths and nightmare stories, being an entrepreneur or independent business owner is for many a hugely attractive lifestyle with considerable benefits both in terms of quality of life and the potential for success and earning. So, here’s one of the common myths around entrepreneurship dispelled:
You Need a Ton of Start Up Cash
This is one of the biggest myths around start up culture and business in general. There is a common misconception that you need excessive money available to get yourself started and off the ground. While every situation is different depending on what you’re trying to accomplish, on the whole this myth is far from true.
Becoming an entrepreneur and starting a business are the same in the sense that you need to genuinely start somewhere. It doesn’t matter if that’s in your bedroom on a laptop or even just an idea on a piece of paper during your coffee break.
Being an entrepreneur or starting a business both require steps. The first steps will be tough sure but much of these are planning and realising your ideas before you jump into how you’re going to bring them to life. Sure a big ton of start-up capital is going to get you going faster and you’ll feel like you’re running a bigger business than you actually are but that’s all spend you need to off-set in the future to become profitable.
Some of the most successful entrepreneurs and business owners build gradually and scale up their businesses as they grow. Constant progression and growth which is sustainable and hasn’t incurred a great deal of debt in the process will always feel considerably more like success than riding off the back of a big upfront investment and having those investors breathing down your neck for results.
It’s true, in many cases you have to spend money to make money but if you’re determined and willing to put in the hard work, that hard work will offset the need to over invest and means you’ll start to make money quicker.
Empower yourself with everything you NEED to start and grow a successful business a step at a time if you don’t have access to a big lump of cash to get started with. Our Business-In-A-Box solution makes this process easy, and is backed with all of the support and training you need to get your new mobile app development agency off the ground. Get in touch to find out more.
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