5 Business Myths StartUp Entreprenuer Should Never Believe!

the serial entrepreneur

5 Business Myths StartUp Entreprenuer Should Never Believe!

19th November 2017 business Entrepreneurship myths Startups 4
Business Myths

We have been experiencing growth at FutureX Media. With range of newly developed products, innovative campaigns that yield results, growing numbers of devoted customers, and in other areas.

What I however observed is that these increases are not born of new influx to the business, they are primarily fruits of eliminating and reducing some of our limiting beliefs.

Myths are terrible. They come to us as reality. If one is not careful, they dominate our thought system and even make us focus on the wrong stuffs.

More of these myths underscores startups and FutureX Media is not excluded.

Our potency in the web design and development space had faced series of turbulent owing to our own shortsightedness and limiting outlook. In fact, we have lost some potential customers and promising deals along the way.

Without further ado, let’s get into these untrue assumptions that may also be hindering your startup growth.

#1. Someone Can Steal My Business Idea

You’ve got to be kidding me. Really, you thought that too.
That’s exactly disappointing and it is a thought you’ve got to let go quick.

If that’s what is holding you back from developing your ideas into reality, then you are deadly wrong!

You just be careful with whom you share your heavenly precious business idea. Anyways sharing your ideas with valuable people will help tremendously improve it.

#2. I am not BiG Enough

Well, maybe you shouldn’t start at all.
You need to start believing that you are big and strong enough to take on important business challenges. It is the only path you got for greatness.

Sometimes last year, I was also with this mentality that I am not big enough to write a secure website from scratch. I often result into adopting the established content management systems.

The truth is: the team could built it but I was so paranoid about the infringement of hackers and other possible risk our customers could faced if anything goes wrong.

The beauty is: known CMS are great with built-in securities and easy of customization. But there is a shortcoming for any developer team, CMS can limit programmer’s creativity and heart of adventurous discoveries.

But now, we have decided to face the brutal facts in other to scale further beyond the boundaries. We quit our not-big-enough fear for the greater pursuits. It is fun to take on the big fish, they are probably within your control.

#3. Customers are Always Right

Probably you are right but it is just not every time.

Some customers can be frustrating for Start-Ups to manage. Some of who help hinder the growth of the business.

Get rid of this limiting belief if it is affecting your business in one way or the other. However, it doesn’t imply being rude to your customers. Remember, they are the soul and spirit of business.

#4. Every Transaction Must Produce Profit

The more you focus on recurring customers the better. The game of business that will scale is not short-termed.
If you are in business for as long it takes to become a billion dollar company, then you should probably focus on the long term game of keeping customers even at the cost of making profit on one of more customer.
That’s why first year of many hosting companies are ridiculously cheap. Don’t hesitate to loose profit or even incur manageable lost on new customer deals in other to keep them. It is generally easier to monetize existing customers.

4 Responses

  1. Your post has very clearly delineated for me the notion of myths and their actual existence or refutation in the present conditions.

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