Eight Common Myths to Building Your Startup
By Darrell Jones
Myth #1. You need to be a tech wizard to begin a startup.
While you’ll probably need technical advice somewhere along the road, the truth is that all you need is a great idea to launch a successful startup. It doesn’t matter if you’re a programming savant straight out of an Ivy League college or a grandmother living on a remote island, if the idea is there (and differentiates you from others) you can always find online freelancers to help build your startup.
Myth #2. A great idea is absolutely necessary for a startup.
Statistically speaking, the first idea you have for your startup won’t be where you end up anyway. As you move from stage to stage doing research and talking to potential clients, you’ll more than likely “pivot” a few times – tweaking your startup’s offering. Just make sure your “great” idea is new or unique, and you’ll gradually mold it to a truly great creation.
Myth #3: Someone is already doing what you’re doing, so you can’t compete.
You don’t have to be the first to market to flourish. You simply have to offer a product or service that’s more enticing to customers. If the market you’re going after is ripe for disruption, make a better mousetrap and you’ll succeed. Remember, it’s all about execution.
Myth #4. You need a detailed business plan to start a business.
Again, initially it’s all about the idea. In the early stages it’s OK to have a more informal business plan, one that simply explains to others your mission and keeps you on track. If you need to raise millions and millions of dollars, you can always come back and refine your business plan. Make it as through as it needs to be. See related article on How To Write A Write a Business Plan.
Myth #5. You need an angel with deep pockets to fund your startup.
A lot has changed in the past few years, and getting money to fund a great idea is much easier than it once was. Start by asking friends and relatives to chip in, either financially or by offering their time. They know you best and have a great idea of your potential, especially when you show them your business plan. There are also many crowdsourcing opportunities too, with websites like Kickstarter giving you a source for funding by people around the world. Once the ball gets rolling, the angle investors and venture capitalist will follow (by then, you may not need the money?).
Myth #6. Building a startup is a lonely business.
Today there is a large and ever-growing community of people who share your startup fever. With co-working spaces like NextSpace (just one example, there are more than likely others near you) you can have a dedicated workspace where you can bounce ideas of other entrepreneurs at 3:00 in the afternoon or 3:00 in the morning. There are also many Meetups you can attend to share ideas with like-minded people.
Myth #7. Create the product and you’re good to go.
Your awesome product or service is only half the story. Once your offering is solidified and ready to roll out, you have to promote it to let the world know it’s available. Fortunately you can do this efficiently by when you build a team of online freelancers. You’ll find marketing professional from researchers and SEO and link building experts to writer, designers and telesales pros.
Myth #8. You need to bankroll a full-time staff to get your startup up-and-running.
While you have your strengths, you’ll eventually need experts in other areas to grow the business from startup to successful company. However with online freelancers available with a full-range of skillsets, you’ll only need to hire full-time staffers for certain jobs. For tips on which jobs to hire for and which to use online workers, read a related article on Which Jobs Are A Good Fit For Freelancers.
Bottom line, starting your startup is not as daunting as many think. All it takes is passion, a little hard work and some creativity in getting things done. Go forth and conquer.
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