Have you ever had a great idea and shared it with someone, only to have your dream shot down? Well meaning friends and family can certainly be discouraging to a would-be entrepreneur. In fact, many barriers to starting a company are built on the back of “truths” about the pitfalls and challenges that surround running your own business. Are they really true, or are they simply myths? Bobby Martyna, who serves as the CEO of Tradavo takes a look at some of them and shares his opinions on the matter.
For instance, if you are about to start off in business you may have been told:
“So many businesses fail. Why risk it?”
“Aren’t you going to have to go way into debt to start your business?”
“Why are you throwing away job security when the economy is so shaky?”
Bobby Martyna would be the first to agree that being an entrepreneur and running a successful business can be tough and there are definitely hurdles to cross, but he would like to invite some common sense into the debate. Here are just a few of the myths that Bobby Martyna has come across in his many years as an entrepreneur.
You Won’t Have a Personal Life
Yes, you will! It will be challenging to juggle the responsibilities of running your own company without neglecting time with the family, but at the end of the day, you will have much more flexibility with your personal life than any company-employed individual will ever have. Proper balance will be found if you have the time management and planning skills to get things done so you can enjoy time spent with your family, says Bobby Martyna.
You Have To Be Cunning and Ruthless To Be a Successful Entrepreneur
While these kinds of tactics may benefit you in the short term, this is not a sound, long-term strategy. Bobby Martyna knows from experience that to be a successful entrepreneur you need to build solid, honest relationships with both customers and suppliers who will then stick by you during hard times. Cutthroat pricing may get you one or two good deals but you are unlikely to build a lasting and profitable relationship. Your aim should be to strike a balance between what makes you the most money and what benefits your customer or supplier.
You Won’t Have To Work As Hard
Your current job may be stressful and subject you to 50 or 60-hour workweeks. Perhaps the idea of running your own company is appealing because you believe it will allow you to slow down and take life at your own pace. While this perception may be somewhat true, there is no getting away from the fact that being a self-employed entrepreneur is very hard work. Most small businesses don’t achieve profitability until at least the third year. Remember, if was easy, everyone would be doing it! What does make the difference, according to Bobby Martyna, is that you will be doing something you love and so the hours and the struggles won’t seem like such hard work after all.