10 Myths on Building a Business Today: What Every Newbie Needs to Know.
(*Updated from 2017 post: Sept 2023)
March is always a time for me to look back, as it marks the occasion when I registered my first design studio in 2013. I wanted to write this post because I like it when people share what they’ve learned over their time what’s worked, and even what hasn’t.
There’s nothing glamorous about being an Entrepreneur in the first few years because, to be frank, this shiz is hard. But if I can help you get there quicker, easier and do it a little more graciously then I know I’ve done my job.
I also wanted to write this post because people keep saying the same thing over and over again and half of them are just myths.
Myth #1 You have to have a logo - before anything.
If you think your logo is what defines your brand I hate to burst that bubble but it’s not. Don’t pour money into someone else doing your logo, branding and colours - because chances are you will change your mind - especially in the first year or two.
What you can do instead is get yourself a temporary logo. Quickly whip up a simple logo in Canva if you don’t have Adobe.
Myth#2 Pour all your savings into a website.
Again similar to Myth #1 that hard-earned cash you’ve been saving for, avoid using it all on your website. Chances are you’ll be a lot clearer in a year or two as to where you’re heading with your brand.
Instead, for a fraction of the cost, purchase a WordPress template from somewhere like CreativeMarket or StudioPress. *Or better still try Squarespace. I moved over to Squarespace back in 2017 and haven’t looked back.
Myth #3: I can do this on my own!
Your time means money. Think of all the time that’s wasted trying to figure it all out yourself.
Instead, that money you wanted to take out as a loan for your website or a logo, invest in support like a Virtual Assistant, particularly one who specialises in WordPress. Look out for a VA who has packages, and try them out for a month.
Myth #4: I need clients before I can create a portfolio.
Nope, you don’t.
Instead, start creating your portfolio now. Make up a Portfolio page and start designing your best. If you haven’t had clients before now - show your talents off and don’t forget to highlight design work in the areas you want to niche in. i.e. Branding, eBook design, etc.
Myth #5: Follow the money.
Though I never really did this, I believe that if you’re gonna do the work you might as well do stuff you love. You want to spend your energy on positive work - that lights you up and feel like you're not working at all, rather than run ragged doing shitty work that doesn’t really do anything for you.
Myth #6: Help anyone and everyone.
Again like Myth #5 do shiz that lights you up - and yes I have been there and done that with this one. It drove me to exhaustion, though I really love helping people, I wasn’t helping myself. Those long nights with next to no lifestyle drove me down the path of discovering how important a Brand truly is.
Myth #7: You should do this or You should do that!
Don’t let anyone tell you what you should or shouldn’t be doing when it comes to entrepreneurship. Instead, learn to trust your instincts. My advice is to do your homework and talk to people. If that idea really lights you up - go with it - do your homework and ask people if it’s something they’d be interested.
Myth #8 Be on all social media platforms.
I hope people are not still advising this. When I started they did. It was like every single blog post that you read was signed up to all the social media platforms and tweeted and posted to your heart's content. Oh, and they also said - go where your potential clients are. I say bullshit to that. I never really understood Twitter and never particularly liked how we’re limited to some many words/characters. But yet I still managed to get dream clients. Don’t run yourself ragged and sign up to everyone. Instead, choose one or two. This leads me to say I’m now focused on Pinterest and Instagram… have we connected yet?
Myth #9: People aren’t going to like me.
I’m calling BS on this one too. here’s the truth - no not everyone is going to like and who cares. You don’t want everyone to like you - instead what you want to strive for is being the best version of yourself AND your uniqueness and knowing exactly who your dream audience and people are. People want transparency - so please don’t try and be anyone else but yourself.
Myth #10: I need to create something really unique.
If I said not every idea is original but instead put your spin on it, would that help you move forward? I wish I had known this one earlier on - half the time that stopped me in my tracks was that other people were doing it. Not every idea is original and that’s okay, just put your spin on it instead.
BONUS: I decided to throw in one more myth.
Myth #11: Build a business.
Today it’s not about building a business but rather building a brand. Customers don’t want to deal with businesses who drive from their bottom line - who don’t offer products and services that offer customer loyalty. Usually, these kinds of businesses offer cheap products and services and in a nutshell, really don’t care about their customers.
Companies like Apple and Starbucks have driven this kind of ethic and brand loyalty. They stand for more than just offering products that help people overcome a problem. They have customers who drive 10 minutes out of their way just to get that special coffee for the day; they have product launches that have customers queuing at 3 a.m. to get their hands on the latest gadget.
That’s what building a brand is really about, making it work easier and smarter for you.
Leave a comment about which myth really resonated with you and tell me why.
