Many solo internet business entrepreneurs believe certain things about starting their own business that simply are not true. Continuing to believe in these myths can lead you down the path to destruction and therefore failure for your business. Here are a few of the most common myths:
•Since I’m just working for me, there is no need for a business plan. This is a subject that was discussed in an earlier article but bears repeating. Would you go on a trip without a plan? Would you get married without a plan? Plans are good, they will help you get focused and stay that way. A good business plan will help you think through all the aspects of your business and see you on your way to success.

•I’ll have to invest in expensive software to get a good business plan. Nope, this one isn’t true either. Software may help, but you don’t need it. How do you think all those businessmen succeeded before the invention of the computer?

•Then I’ll need to hire a consultant to write my business plan for me. You are the one who knows what you are going to do. If not, then all the consultants in the world can’t help you. Try a coach or mentor to guide you, rather than do things for you.

•I should get one of those business plan templates that sound really complicated. Complicated is good, right? Wrong! Simple, but professional looking is better.

•I need to have everything perfect before I start. If you wait that long you may never start. Get your business up and running, as problems that need to be repaired arise. you can fix it as you go. Just make sure the major points are as good as they can be.

•If I don’t do everything my business plan says I’m a failure. Sometimes detours or changes can be beneficial to your long-distance plan, business plans should be revisited at least once a year in the early years of your business, and those changes that caused detours reviewed and incorporated into the business if approparite. Don’t sweat the small stuff.

•My business plan must be typed, at least 50 pages long with a professional looking cover. You can write it in hieroglyphics on the wall (but you MUST write it down), so long as you can understand it and maintain ready access to it when you need it to keep your business on track to success.

•I only need a business plan if I’m getting a loan. Would you invest in any business without seeing a prospectus? Of course not! You’ll be investing in this one! Just do a budget and run it by your accountant.

•If I have a business plan in my head – that will do. ABSOLUTELY FALSE! You will NOT be able to remember it. Can you solicit advice as problems arise from friends or professionals if they must read your mind? Can your accountant assess how your business is doing if he must read your mind as to the direction that your business is heading?

•Friends and family are all I’ll need to give me advice. Could a city man tell a farmer how to run his farm? Only if your family are accountants and market research experts will they be qualified to give the right advice, and even then their advice will be tempered by their emotional involvement. While that is not necessarly bad, you want the most honest advice you can obtain so that it will provide your business the best possible chance of success.

•I can do everything myself without the need for outsourcing. Another GIANT myth! Business process outsourcing will help insure that your time is most wisely spent on those processes that you posess the talent for, and provide your business with the best chance of being successful.

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