Millions of people dream of working for themselves, and many have the skills and expertise to make this vision come true. Unfortunately, common myths and misconceptions about starting a business hold most potential entrepreneurs back, even if they’re sure they have what it takes to succeed. Below are some of the most common misunderstandings you might have heard about starting a company and the business resources you’ll need to make it.

Debunking Myths About Starting a Business

1. You Need Substantial Capital

While manufacturing and some other industries do require a substantial up-front investment, small businesses in many fields can be launched with almost no money at all. For instance, you can start a software development company with little more than a computer, web-based software, and technical expertise. Many retail businesses also start online and become thriving small companies without ever opening a brick-and-mortar store.

2. You Must Be Strict With Your Plans

While a general first-year plan is important for keeping yourself focused and deciding where to allocate business resources, you don’t need to know every detail before opening your doors.

In fact, the flexibility of not having a strict course charted out allows you to pivot toward innovative ideas as they come along. For instance, you might start a web design company, only to find that your real talent lies in SEO and digital marketing.

3. Starting a Business Takes Years of Preparation

While launching a large-scale manufacturing company with a complex product and several stakeholders may take several years, many small businesses don’t require so much preparation. Depending on the field you’re going into, you might be able to get a new business off the ground in a matter of months, or even less if you don’t need a physical location.
 

Since 1925, the Huntington Township Chamber of Commerce has provided networking opportunities and business resources to entrepreneurs throughout the Huntington, NY, area. Today, they have over 500 members and host a variety of training and development events throughout the year. Visit the website or call (631) 423-6100 to learn about their business resources and sign up today.