Starting a new business is a lot of things: Exciting, intimidating, fulfilling, and yeah, a little scary (thanks to scary statistics like “50% of small businesses fail within the first five years”). That might be true, but there are a lot of myths about starting a new business and thriving beyond year five. Like “you need a business education to succeed in business.” Actually, according to recent QuickBooks data, 44% of successful entrepreneurs say they don’t have any formal management or business training. Or “you need a super unique idea to start a new business.” In reality, 60% of successful businesses say word-of-mouth marketing is where it’s at.
Starting a new business is hard and exciting enough without wasting energy battling these myths. So, let’s separate fact from fiction. Here are 8 myths about starting a small business — busted!
