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Top 5 Entrepreneurship Myths You Probably Believe but Shouldn’t

Entrepreneurship myths are everywhere. They populate the minds of anyone who dreams of striking out on their own. Heck, even successful entrepreneurs believe some of them. (At least at some point in their journey.) The reason entrepreneurial myths are so widely believed is because they involve risk. And, everyone is risk-averse (to one degree or another). Therefore, these misconceptions live on and keep good people from following their passions. But, you don’t have to believe them.

Two Common Entrepreneurship Myths

Let’s start with two common entrepreneurship myths; then, we’ll get on to the big three. First is the old nagging feeling that money is the single biggest obstacle. Nonsense. You can start a business in about 10 minutes using social media and a little imagination. Now, you’ve got to know how to use social media to effectively promote your business. But, the point is, you can find a ton of free and really cheap ways to get things going in a short amount of time.

As people are trying to navigate away from the “corporate jungle” towards the land of supposed “entrepreneurial utopia,” a lot of misconceptions arise. Perhaps this has to do with the media, advice they have received or what is heard through the grapevine but often these insights can derail a person from taking the plunge in the startup world. Or cause them to jump on the entrepreneurial bandwagon, when they have no business doing so. —Entrepreneur.com

Another common entrepreneurial myth is that making more money is the best motivation. This simply isn’t true. And, it’s actually somewhat dangerous. If you’re only motivated by money, your heart and mind are in the wrong place. Of course, there’s nothing wrong with earning a better living but it’s foundation can’t be greed.

3 Biggest Entrepreneurship Myths

The fact of the matter is money isn’t an obstacle and it’s a bad motivator. But, this isn’t the only challenge people let get in their way of realizing their dreams. Now, let’s get into the three biggest entrepreneurship myths people believe:

The more customers, the better. At the bottom of the top three is the notion that more customers means more success. Which in turn means, the better. Two words about that: Not. True. Quality will always trump quality. What’s more, it’s a risky situation — especially early on. You’ll spread yourself too thin and that will only hurt you in the long run. Focus on the ones who make it a pleasure and let go of those who waste your time or have unrealistic expectations.
You need an inherent entrepreneur trait. Some people actually subscribe to the notion there are “born entrepreneurs.” Of course, there are individuals who have a knack for it but that doesn’t mean everyone else is shut out. It just takes work, self-confidence, and most of all, persistence. Those who go forward and don’t give up have a much higher success rate than those who don’t.
It just takes one great idea to make it work. Now, we’re at the biggest of all entrepreneurial myths. And, that’s believing you only need one great idea. While this is a key element, it won’t work as a magic bullet. Lots of people have great ideas. The trick is to define it and market it effectively by testing the market and remaining persistent with discipline and consistency when things get difficult.

What other entrepreneur myths do you think people believe? What suggestions do you have to get past them? Please share your thoughts and experiences by commenting!

Interested in learning more about business? Then just visit Waters Business Consulting Group.

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How to Tell Your Employees You’ve Fired Someone

April 30, 2018 No Comments

How do you tell your employees you’ve fired someone? The topic makes most entrepreneurs very uncomfortable. But, there are certain situations which call for this type of action. Previously, we’ve talked about how to fire someone. However, what happens thereafter? It’s not like people won’t notice he or she is gone. So, how do you deal with remaining employees in a way that moves your company forward? The truth is, there is no such thing as a perfect transition. However, there are ways to make it go smoother. Signs it’s Time to Terminate an Employee Before you do take the final step of termination, you should be totally sure it’s the only recourse. For instance, a team member who consistently drags down productivity (and, won’t take steps to correct their behavior). Or, an employee who drains morale or constantly stirs-up drama are also toxic — don’t let your organization suffer unnecessarily. Also, an employee who is apathetic doesn’t care about their work product or customers isn’t worth keeping around. One thing we know about human nature is that when there’s a mystery, people will solve it themselves: They make up the ending, and it’s almost always worse than reality. And that’s the problem–if you don’t tell people why, they’ll make up why. And the wrong why is almost always destructive. Information vacuums fill with rumors, and rumors lead to anxiety. —Inc.com Then, there’s the serial rule violator. Someone who just refuses to play by the rules. It’s time to stop banging your head against the wall and do your business a favor. These situations are typically the most disruptive and harmful to a company. How to Tell Your Employees You’ve Fired Someone Now, if it’s time to let a team member go, you’ll have to navigate your employees through a weird experience. Here are some helpful suggestions for how to tell your employees you have fired someone: Make a simple announcement. Convene a meeting or send out a memo. Simply state, “Bob no longer works here. Our transition steps are 1, 2, and 3. If you have any questions, please see Sue.” That’s it. Straightforward and to the point. Don’t share details or communicate negatively. After terminating an employee, the human temptation is to share your reasons for the termination in order to rationalize your decision. And, sometimes this leads to making negative comments about the terminated employee. Do not fall into this trap! Be a leader. Otherwise, any other communication is destructive and deteriorates your culture and you lose respect with your existing employees. Don’t tolerate rumors. Rumors are inevitable in these situations. Keep your ears open and if you hear one, nip it in the bud. Be polite but direct and firm. Do not let rumors become a distraction. Give people a chance to step-up. Since there’s an open position, you can ask who is willing to step-in and fill the void. This is a great chance to see which team members are the most eager and loyal. Seize the opportunity. This is likewise an opportunity to reset the company narrative. You might want to take it in a different direction or get back to fundamentals. Whatever change you’d most like to make, now is a prime opportunity. How do you tell your staff you’ve let someone go? What other suggestions do you have for these situations? Please share your thoughts by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group.

The Quiet Work That Builds the Strongest Customer Relationships

May 14, 2026 No Comments

There’s a Confucius saying that goes, “The man who moves a mountain begins by carrying away small stones.” It’s an interesting observation. And, it demonstrates just how important unglamorous, day-to-day operations truly are. We often think about success as a celebration, as big achievements, as huge leaps and bounds toward a lofty goal. But it’s actually built on small steps, done largely unnoticed, practically in silence.

The Back-to-School Startups Poised to Cash In When the Bell Rings

August 6, 2026 No Comments

With every new school year comes new business opportunities. While these windows are narrow, they nonetheless offer particularly profitable prospects, especially to entrepreneurs willing to move quickly and with purpose. However, it’s not necessarily easy to come up with good ideas, products and services that have real demand from local families. So, let’s take a look at some of the best startups to offer solid solutions for common problems as the school year begins. Practical Startup Ideas for the Busy School Year Launch The first day of school is pure chaos for parents—and pure opportunity for entrepreneurs who see past the backpacks and lunchboxes. Every August and September, millions of families scramble. Schedules reset. Budgets stretch. Stress spikes. Smart founders who understand this annual frenzy can launch lean, high-demand businesses that solve real problems right when people are most willing to pay for relief. Here are five of the strongest startup opportunities timed to the K-12 school-year launch. 1. Hyper-Local Tutoring and Homework Rescue Parents will pay for peace of mind the moment report cards and progress reports start arriving. A focused tutoring service—virtual or in-person—targeting specific grade bands or subjects (elementary reading, middle-school algebra, high-school STEM) can scale quickly with independent contractors. The best models combine short diagnostic assessments with flexible evening and weekend slots. Add group “homework clubs” or test-prep intensives and the margins improve further. 2. Ready-to-Go School Supply and Uniform Kits Big-box stores still leave parents hunting for the exact brand of glue sticks or the right shade of navy polo. Curated, school-specific supply kits delivered to the door remove that friction. Partner with local PTAs or school secretaries for accurate lists, offer customization options, and sell both standard and premium versions. The same model works for uniform packages, gym clothes, and even first-week lunchbox essentials. 3. After-School Enrichment Micro-Programs Traditional daycare fills up fast and often feels like warehousing. Parents increasingly want short, skill-focused programs—coding clubs, debate practice, sports skills, art intensives, or outdoor adventure groups—that run two to four days a week right after the final bell. These can operate out of rented church rooms, community centers, or even underutilized school spaces. Low overhead, high perceived value, and strong word-of-mouth potential. 4. Meal Solutions Built for School Nights The 5 p.m. scramble is real. Subscription meal kits designed specifically for school-week dinners, grab-and-go breakfast packs, or healthy packed-lunch services solve a daily pain point. Focus on kid-friendly nutrition, allergy awareness, and packaging that survives backpacks. Local delivery or school-pickup options increase convenience and justify premium pricing during the school year. 5. Parent Logistics and Coordination Platforms Carpool coordination, extracurricular schedule syncing, last-minute sitter networks, and even simple “who’s bringing the snacks” tools remain surprisingly fragmented. A clean, mobile-first platform that connects parents within the same school or neighborhood can generate recurring revenue through subscriptions or transaction fees. Start narrow—one school district or one activity type—and expand once the network effect kicks in. Why Timing Matters These ideas succeed because demand is concentrated and predictable. Marketing can be laser-focused on the six-to-eight weeks surrounding the start of school. Social media ads, partnerships with pediatricians and realtors, and booths at back-to-school events deliver efficient customer acquisition. Many of these businesses also enjoy natural expansion into the rest of the academic year once trust is established. Execution Notes for New Founders Keep the first version simple. Validate demand with pre-orders or waitlists before investing heavily in inventory or space. Prioritize reliability—parents will forgive higher prices far more readily than they will forgive chaos or no-shows. Collect feedback aggressively in the first month and adjust offerings accordingly. Finally, design the business so it can breathe during summer and holiday breaks rather than fighting the calendar. The school year resets every fall. The families who dread that reset are looking for help. Entrepreneurs who show up with practical solutions at exactly the right moment can build something both profitable and genuinely useful—right as the first bells ring. Want to Accomplish More for Your Business? Do you want your company to grow faster and earn more while spending more time with your family doing everything you started your business to do? We can make that dream a reality. Give us 30 minutes, and we will show you how to get your life back. Skeptical? Good! Put us to the test. You can call us for your free appointment at 480-636-1720, or, if you prefer, <a href = "mailto:info@watersbusinessconsulting.com”>send us an email. You can also visit us at Waters Business Consulting Group to learn more about us and the services we offer.

Top 5 Entrepreneurship Myths You Probably Believe but Shouldn’t

Two Common Entrepreneurship Myths

3 Biggest Entrepreneurship Myths

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How to Tell Your Employees You’ve Fired Someone

The Quiet Work That Builds the Strongest Customer Relationships

The Back-to-School Startups Poised to Cash In When the Bell Rings

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