Categories: Business & Finance

Debunking 4 Small Business Myths

June 30, 2015

These myths can ruin our motivation when starting and running a small business. It is a good idea to debunk them:

  1. There are many people already in the same market, I would never compete: It may be true that some fields of business are highly competitive, but it doesn’t mean that we can’t compete. The mere fact that there are many competitors in a business area means that there are plenty of demands that need to be fulfilled. There’s always one room for one more! Also, a big market often seeks for fresh offers in the market. Many new business owners gain success in a highly competitive market, because they are able to deliver something unique and refreshing that keep consumers interested.
  2. Only gurus who can tell us how to make money: If we have been observing the marketplace, especially the online business, we know that it is a fairly common myth. Online business gurus seem to be everywhere and the truth is, only a very small percentage of them are genuine. Many of them actually don’t have a clue on how to make a great financial profit. There are all sorts of business methods to choose from and we don’t really need their suggestions to find one that matches our preferences and market demands. Online success could happen because we choose to have one, not because someone chooses it for us. We should find out things that make us successful and try to make it happen.
  3. I can’t do it: This is the simplest and the most debilitating myths around. Some of us may have even tried many of types of business and experienced failures. This string of misfortunes may cause us to think that success if difficult or even impossible to achieve. However, any successful businessperson knows that a successful venture is possible if we have tried long and hard enough. Often, quitters are those who call their business failure too soon before they allocate enough time and effort into it. Many successful businesspeople started from scratch and there are some reversals that put them at the worse state when they start the business. However, they are stubborn enough to keep on trying, until their business becomes a success.
  4. Top position in the Internet is impossible: Many businesses rely on high positioning in search engine ranks. Admittedly, it takes a significant effort, because people are competing for the same spot. It is true that small businesses may not have the resources to achieve top position in the search engine, because it can be quite costly. However, it is possible to get high quality online traffic by using longer keyphrases, which could be associated with our geographical locations and other unique characteristics. We may also use social media networks and email marketing as alternatives to high search engine positioning. The trick is to rely on multiple online marketing methods and many small businesses gain online success without ranking high in search engine.
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