Butz Bartolome: Fears and Myths of Starting A Business

Fears and Myths of Starting A Business
Butz Bartolome shares business advice.

Some of these individuals are blindsided by some myths about starting a business. If one thing stops an individual from starting his own business, fear of not understanding how things work. Instead of exploring the idea of taking that plunge and believing in oneself.

In this day and age, everyone should no longer let themselves be left behind. The need to do certain things to make some significant life changes should not be feared. Taking those challenges and proving to themselves that making a massive turnaround with your current condition can be possible. If you live a life believing in these myths, it is like just accepting your defeat even before you even started.

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Myth#1 The need to know everything.

Although you must know what you are getting yourself into, sometimes, the greatest lessons that we get are those that come from our mistakes. It is not possible to have everything written in books. Yes, they act as a guide in things that we do. However, our experiences are what make us better in any endeavor that we take.

Myth#2 You cannot start a business unless you have concocted a vast business plan.

Again, you can draw out an outline of how you want your business to flow. But to write every single thing that comes to your mind is not a fool-proof technique since in business, it is a gamble, a hit and miss. Unless you stumble, will you ever know that you can think of better ways to make things work for you?

Myth #3 You need to have a lot of money to start a business.

Nowadays, anyone can start their own business even with as little as Php500. But of course, don’t expect it to be a million pesos in just a short time. Starting small is sometimes the safest way to learn from the business and eventually use them as your stepping stone in creating a more profitable business.

Myth#4 The need to have a lot of business experience.

How can an individual have experience in business if he would not even start one? If you have set your mind to something and think you have the right skills to make it happen, go for it. Starting a business is all about taking risks. And not unless you experience all these ups and downs that an entrepreneur goes through, you won’t even make it to your first year in business. You get your experience as you start your business.

Myth#5 The need to put up a costly website.

Having an excellent website to draw attention to is a perfect way of encouraging online visitors to look through your website. And eventually, get them convinced about purchasing any of your services or products. However, you don’t need to spend so much on a website. You can start making your own. There are websites you can build for your business without the need to pay for a centavo. Absolutely at zero cost. All you need to have is a very creative mind so you can make it as enjoyable as you can.

Myth#6 The need to set up a really nice office to impress customers/clients.

To make your office presentable should be on your list. However, you don’t need to splurge on that when you can use your money wisely. Even an office as small as 20-25 sq. m. can be used and still become impressive for as long as you make it as clean and as organized as you can. Remember, you don’t need to have expensive displays in your office.

Myth#7 The business can become successful in its own right after building it.

No business can survive the first months without strict supervision, proper implementation of rules and regulations, and adhering to appropriate laws. It is not like a plant that you just let grow on its own. If you think about it more, a plant can blossom into a beautiful flower if adequately taken care of. There is a need to constantly check if the products and services are appropriately given to customers, if the employees are doing their jobs, etc.

Myth#8 You can be involved in a business while you are employed.

Practically, it is tough to have two things at the same time. However, employees should not fear having an extra source of income, too. Unless you are starting with a highly complex business, it would only eat up your time, and you may just need to give up on your job.

The stability of a business may not be evident soon after you have started it. Therefore, if you are employed and want to venture into a small business, you can start anytime. When you feel that your business is giving you more than your month’s salary, you can probably focus more on your business.

Conquer all your fears and believe that whatever you have set your heart and mind into can become a reality. Henry Sy didn’t start huge. He needed to squirm to a lot of struggles until he could reach where he is today. If he didn’t take that initial step to make himself in a better position, there are probably no SM malls today.

CHECK OUT more advice from Butz Bartolome:

Butz Bartolome: Perfecting The Art of Listening

Butz Bartolome: 5 Symptoms of Information Overload and How It Affects You

CHECK OUT the Philippines’ top mentor Butz Bartolome as he discusses business matters and SHARE THIS STORY with entrepreneurs and aspiring entrepreneurs who need the advice.

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Armando Bartolome is known as the Philippines’ Franchise Guru, a mentor to numerous micro entrepreneurs who are now themselves big names in the industry. For questions and more information, you may contact Armando “Butz” Bartolome by email: Business.mentor@butzbartolome.com or his social media