Myths about entrepreneurship debunked for aspirants starting a new business

by Pinaz on 25/06/2018
Bored out of your mind working 9 to 5 behind a swish, corporate desk, and have been nursing your entrepreneurial ambitions for a while? If you said yes, you could be a part of the ever-growing base of Indian entrepreneurs who have small and medium businesses in India - a number that’s only increasing.

If you think you are an innovative maverick, or even a risk taker seeking to move away from the mundane corporate life to follow your passion, welcome to entrepreneurship – starting a new business of your own is essentially mainstream today. Entrepreneurs globally have played a vital role in the economy by creating jobs, driving innovation, and increasing economic activity. A few of you may already be brimming with an innate desire to build your own ventures, and having the competent skills to succeed.

The others may be anxious to take the first step - don’t let the fear of failure prevent you from starting a new business, and pursuing your dreams, as it is absolutely possible to learn, and acquire the qualities to be a successful entrepreneur as you go along. That brings us to debunking the most common, and stubborn business myths that deter some of you from following your ambitions. We suggest you unlearn these top 3 myths when you consider starting a new business:

Myth #1: Entrepreneurs are born and not made

On the contrary, entrepreneurs aren’t born. They are self-made. Entrepreneurship has been on a steady rise, and with the power of the internet and e-commerce platforms such as Amazon, starting a new business has got simpler. How to sell as a small business owner can be learned, and experiences gained by knowing your product niche, the demand and market research. Hence, there is no ‘entrepreneurship gene’. Anyone with an open-mind, determination, and motivation can be the path-breaking entrepreneur.

Myth #2 – If you build it, they’ll come

Just building a small business won’t ensure sales. Customers are only seeking the best today. Driving relevant traffic to your products in a noisy market consumed with competition is critical. Draw attention from your target audience and boost sales by building awareness, and promote your business online.

Myth #3: Starting a new business may need big capital

It is commonly believed that any small or medium business = big investment. The reality? Half of the Inc. 500, fastest growing companies started with under 5 lakh INR. With a minimal investment in a professional partner like Amazon, you can easily set up, and grow your business on a ready-made online platform, scale the reach of your unique products to scores of global customers, invest your time in fine tuning your business aspects and offerings, while all the logistics are taken care of, so you can gain big with your small business.

Which of these myths have you been believing? If you are attracted by the prospect of starting a new business, don’t get demotivated by myths. Make a plan to realise your passion and start your entrepreneurial journey. Register now as a seller on Amazon and unlock your business value.

As Mark Twain aptly echoed - “Twenty years from now you will be more disappointed by the things that you didn’t do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbour. Catch the trade winds in your sails. Explore. Dream. Discover.”

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