4 Common Myths about Owning a Business – BUSTED

by May 2, 2019Success Tips0 comments

4 min read

Owning a Business
Entrepreneurs are everywhere and that’s a good thing. The economy is growing and the future is prosperous. However, if you are a newbie in the world of entrepreneurship, many business myths might confuse or even scare you. In reality, no one can prepare you for all the work and effort that comes with starting and running a business. Every journey is individual, but some old myths keep baffling entrepreneurs.

These myths create unrealistic expectations about starting a business or scare you so much that you might even give up on the idea of starting your own. Nothing to worry about, your hero Enterprise League is here. Yes, we will become Myth Busters for a moment and debunk the myths about owning a business and becoming an entrepreneur.

1. You Will Have Plenty of Free Time

Many will laugh at first then frown and cry in the end. This might be an exaggeration, but that myth is so busted. Ask any entrepreneur who started the business six months or one year ago and they will tell you the same. Moreover, on the internet, you can find all these success stories from entrepreneurs that work only 8 hours or less. That’s so fake and fairy-tale-like that it made me laugh out loud. Owning a business requires more than 8 hours. Forget about going to work from 9 to 5. You will be the first one that comes in the office at 7 o’clock and the last one that leaves at midnight wishing there were more than 24 hours in a day.

Another thing people fail to realise is that when you work as an employee in an 8-hour job, you get a pay check regardless of how well the business is doing. On the other hand, when you are the owner, chances are you’d be the lowest paid employee, yet you’d have to work around the clock to even begin to be profitable. After a while, it might pay off, earning six or even seven figures per year. But until then – keep grinding!

That’s one business Myth BUSTED, three more to go.

2. You’ll Sleep Less

Yeah, it might be true for a while at the beginning or your entrepreneurial journey, but you’re not a robot and it cannot continue forever. Of course, there’ll be many sleepless nights concerning over problems at work and trying to come up with a solution so you can save the day tomorrow. However, if you continue on this path of zombies for long you will be destroying your business and yourself as well. You need sleep to function properly! So, it’s safe to say this myth is BUSTED too.

3. You Won’t Have Enough Time for Family & Hobbies

Also, do not forget one crucial part of your life – family. They’ve always been your most loyal support, right? Believe me, you don’t want to sacrifice your relationships by overworking and forgetting to spend time with them. Many entrepreneurs make this common mistake and destroy their lives.

What about hobbies and other actives after work?

Yeah, you might not have time for all of them, but if you can’t allow yourself to reward your mind and soul with pleasurable activities, then what’s the point of being your own boss? Don’t forget to look after yourself and spend more time with your family. After all, a healthy and happy entrepreneur equals a successful business.

So beware, because despite being a MYTH this can very easily become true if you don’t address it properly

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