3 Self Employment Myths – Debunked


Who wouldn’t want to be self-employed? Who wouldn’t appreciate getting up as late as you want for work? Who wouldn’t like calling it a day at 8AM and head straight to the beach? Who wouldn’t dig going on long vacations in Hawaii or Southeast Asia’s beaches? The truth is, everyone can appreciate the freedom, convenience, and fun of having your own business and working for yourself. With that said, few people can handle the hassles that go with self-employment.

Unlike a regular job that gives you a paycheck every two weeks like clockwork, working for yourself often means having to chase your own meal. That’s right, self-employment means a lot of work. The good news is that if you are passionate about your business, and if you have a built up a system to handle the different components of your business, you should do well.

Still, people often let outdated and harmful myths get in the way of them taking the plunge and giving themselves the life they have always wanted. As you can tell from these myths, they are all rooted in fear. You  really have to let go of fear if you want to succeed with your own business. There are no two ways about it. Check out the myths below and see how you can destroy their hold on your mind.

It takes money to make money

One common myth (and excuse) people give for not following their dreams of self-employment is the idea that it takes money to make money. Sure, to some extent, you will need capital to start a business and get going. However, you don’t need much to start.

Giant companies like Walmart and others were started on shoestring budgets. You can start small and scale up. You can start with just a sliver of the eventual business you want to build and reinvest your income so you can scale up. Sure, it takes money to make money but the amount of money can actually be very small.

I need to drop everything to become self-employed

Another persistent myth people use to excuse themselves from failing to chase their dreams of self-employment is the idea that they have to give up their lives just to pursue their dreams. Talk about a load of hogwash.

You can start on your business while working at your day job. In fact, many of the largest companies in the US were started as night businesses operated from the founders’ garages.

I need to start big to get big

Just as you don’t need much money to start your business, you don’t necessarily have to have a large amount of money to start out in a big way. If you are the first in your particular industry, you can dominate the industry early on without having a huge capital base. In this case, your new idea helped you get a competitive edge, not the huge capital you started with. Believe in the power of ideas to help you get ahead.

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