Small Business Myths that Should be Debunked
- March 15, 2018
- Martin Young
- 0 Comments
For a lot of people, starting a small business is their stepping stone towards having control of their life – both in terms of time and money. You are the boss, and hence, you do not have an employer who will dictate your actions. It might seem easy in theory, but in reality, it is more complicated. That being said, here are some of the myths that you should be debunked to help you start your small business on the right foot.
You Do Not Need an Office
Just because your business is small, this does not mean that you will not need an office. Coworking spaces like The Common Desk can provide you with the space to work. It is where you can meet potential clients and make a good impression. They would know that you are serious in your business since you work in an actual office. This is better compared to bringing clients to your home or a coffee shop when there is a scheduled business meeting.
At Common Desk, small business owners can enjoy Dallas office rental space at an affordable price and inclusive of amenities that will make you feel like being part of a true office.
Alternatively, you might decide to buy your own business premises that you can put your own stamp on by choosing the size, location, and decor to match your business’ image. You can then get to work decorating the office, including adding office furniture from companies like https://www.officemonster.co.uk/ and make a productive work environment for your employees.
You Will Have a Lot of Free Time
Some people fancy the idea of having their own business so that they won’t become corporate slaves. They think that this would give them more time to enjoy life and have fun. Yes, it can be true, but if you are really into your business, you will realize that time is a scarce resource. It will demand more time on your end, perhaps even more than the time you used to spend working in an office.
Passion is the Most Important Recipe for Success
If you are passionate about your business, it will succeed. This is one of the myths that should be busted. Yes, passion is important, but it is not the only thing that will allow the realization of your goals. Passion is not a silver bullet. It is not a guarantee of success. In order to be effective in what you are doing, you must learn how to modulate your emotions.
Sales Measure Success
Sales are vanity. Focusing on such metrics as a way to gauge success does not make any sense at all. Rather than focusing on sales, you should emphasize cash flow. In fact, cash flow can provide a better measurement of the amount of money that is being generated by a small business and not sales. Cash flow refers to the movement of money in and out of the business. You measure not only how much you make, but also how much you spend to reach your sales.
Busting the myths that have been mentioned above is a good first step in getting started with your small business. It is never going to be easy. There is no shortcut to success. The more you persevere, the more likely you will succeed.