6 myths which are obstructing your way to build a great start-up

Start-up myths busted

Myth 1: You need a lot of money to start a venture

This isn’t entirely true because money just acts as the fuel to help your company get built. You need other stuff like a kick-ass idea and a great team to make your company a success.

Don’t believe me? Apple’s first office was a garage and Facebook started out of a hostel room.

Myth 2: You don’t need a team

Entrepreneurship isn’t a one man show and definitely cannot function as one. You can start doing everything on your own but in the future, you will definitely need a team as your company expands to take on different departments and roles.

Related Post: 7 common myths about entrepreneurship

Myth 3: Your idea needs to be out of the world

Yes, it is important to have a great idea you need to work around in order to make your company successful. However, contrary to the belief, it doesn’t need to be completely unique or extraordinary. People have worked around simple ideas like hotel room aggregation, taxi services and restaurants and have been very successful.

Three marketing myths busted

Myth 1: Marketing should be minimal

Contradicting this statement completely, marketing in your initial stages should be all out and present across all platforms. Unless people are aware of your existence and what you are selling, you will never be able to gain customers.

All companies had to first create a name for themselves and open up to the public before becoming successful.

Myth 2: Social media/traditional is enough

Just selling your product on one media isn’t enough in the present day. You need to be able to build a presence on all platforms as it will help you gain more awareness and reach out to a larger number of potential customers. Social media helps in boosting your image a lot; however, you shouldn’t completely ignore the traditional media.

Related Post: 6 ways in which social media can benefit startups

Myth 3: Cheapest products/services are the most popular

In a lot of cases, price sensitivity might play a role in the success of your company. However, it isn’t the only aspect you should be focusing on because many a times, customers relate price with the quality of the product/service which could work against you. Thus, a sensible pricing is the way to success.

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Author: OOS Team

Explaining bits and bytes of startups and entrepreneurship.

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