5 Biggest Myths of Starting An Online Business From Home

If you are looking to start your first business from home, you may feel confused with many questions. How long will it take? Do I need formation to start my own business? Is it risky?

The potential of creating a business from home is so different from traditional job careers that it is easy to feel confused with these opportunities. You may think: I want to start my own business, but I don’t feel ready yet. 

At least, that is what people try to make you believe. Friends, family, and coworkers may have the best intentions to help you succeed, but they cannot guide you to make a change that they never did. Here are five limiting beliefs that you have heard over and over again and how to overcome them.

You Need Experience And Skills

People know that entrepreneurship requires a lot of initial work which can be easily confused with formation and training. Entrepreneurs work more than normal professionals because they control their results and want to reach their destination faster. 

Now, If I want to start my own business, I don’t need to be an expert at everything. All that is necessary is focusing on your strengths and hiring others to do what you don’t know. Does your idea require coding, copy-writing, advertising, or market research? Hire a freelancer to work on it while working on your business from home. It’s also possible to learn that skill as well with all the training that is available today.

The only objective of the entrepreneur is to solve problems and give value to others. That involves managing your resources and present the solution to the public. You may be surprised at how many digital entrepreneurs sell online courses and hired other people to create their content.

You don’t need technical skills as an entrepreneur, but having enough problem-solving and creativity skills to add value to others.

You Need A Lot Of Money To Start

Who would ever start a business from home without money?

Of course, you need some funding to get started but far from the same amount as you would have in a traditional business.

That is a myth that comes from traditional businesses, not online businesses. Real businesses need to hire people for each department, deal with random expenses, product creation, logistics, and whatnot. 

The best way to start my own business is to use the Internet to make others take care of those costs. There are programs such as Amazon FBA where the company lends you their customer base and delivery service for free. Some businesses require almost no money to start, such as affiliate marketing.

You may not need any investment at first, but you should eventually invest in the business to scale and grow it faster.

When I start my own business, I’ll have absolute freedom

When people start a business from home to be their own boss, they usually do it to escape from their 9-to-5 jobs. To their surprise, the initial work of an entrepreneur requires much more sacrifice and commitment than being an employee.

Again, entrepreneurs don’t run away from problems but solve them. You cannot become successful with an Escape mentality.

The degree of freedom than you get is relative to the business model that you choose. If you start a business from home, it will generate passive income and give you freedom at some point. The part that people don’t get is the enormous work required at the beginning.

Of course, freedom is one of the objectives to start a business from home. Everybody can start a business, but only people who understand the process can win. You should only commit to these projects if you can understand and deal with the compromise. 

It Is Too Risky

The biggest shift from 9-to-5 jobs to entrepreneurship is the perception of risk. As a worker, there are many things out of your control: your boss, the economy, your health, your paycheck, or your coworkers.
Any mistake that you make as an employee can lead to terrible scenarios.

If I start my own business, things change. You increase your success chance with every mistake because you get experience, new things, and condition your mindset.

Successful employees need to do everything right without mistakes for forty years. Successful entrepreneurs only need to get it right once to win in business. Which one would you take?

I can start my own business and chase money regardless of value

Some people never understand the way businesses work because they only use consumer mentality. The producer mentality is about creating value with a product or service and make money with it. Value is about helping people by solving THEIR problems and giving THEM benefits.

That is right. People give money when they get something, regardless of their own interests and passions. If you want to do what you love, you should make sure that your passion has enough demand first. The priority is thinking about others, so you can eventually have enough freedom to do what you love.

If you want to learn more about the digital landscape and how to build your own business online you can get started here.

4 replies
  1. Justin
    Justin says:

    Long time supporter, and thought I’d drop a comment.

    Your wordpress site is very sleek – hope you don’t
    mind me asking what theme you’re using? (and
    don’t mind if I steal it? :P)

    I just launched my site –also built in wordpress like yours– but the
    theme slows (!) the site down quite a bit.

    In case you have a minute, you can find it by searching for “royal cbd” on Google
    (would appreciate any feedback) – it’s still in the works.

    Keep up the good work– and hope you all take care of yourself
    during the coronavirus scare!

    Reply
    • Kristoffer Thun
      Kristoffer Thun says:

      Hi Justin,
      Thank you! :D
      No problem at all. I love this theme it’s easy to work with.
      It’s called Enfold. There are some plugins that improve the speed for you.
      Sure, I will take a look at your site.

      Stay safe and take care of yourself and everyone around you.
      Kristoffer

      Reply
  2. Teresa
    Teresa says:

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    Reply

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