2 Myths that Keep You from Launching Your Business Now (and How to Get Over Them)
When it’s time to start a business, procrastination can be one of your biggest enemies. While you may not intentionally be delaying your launch, it’s likely you’ve convinced yourself that one of the following two myths are true.
Myth #1 – I Don’t Have Enough Formal Education/I Don’t Know Enough Yet
If you’ve only got a high school diploma, it can be intimidating to read the biographies of competitors and see BA, MBA, JD, Ph.D. et cetera behind their names. However, a lack of higher education doesn’t automatically mean you’re not an expert.
When it comes to business, it’s about results. Do you have a product or service that will make the lives or your clients easier, save them money or save them time? Then you’re qualified. You’d also be in good company. Billionaire entrepreneurs like David Geffen of Dream Works SKG, Micky Arison of Carnival Cruises and Mark Zuckerberg of Facebook dropped out while John Paul DeJoria of Paul Mitchell never even attended college.
I’ve been guilty of this one. I remember wanting to start a web design company after I took my first HTML class in 1999. I didn’t do it right away because I thought one formal class plus passion wasn’t enough.
Back then, I worked at a computer center as an instructor, and I was preparing students to take their A+ Certification test. To pass, students had to know how to break apart a computer, rebuild a computer and understand all of the workings inside of it.
Now I was not A+ Certified at the time, but I was the only available instructor. To make sure I was effective, I stayed a chapter or two ahead of all the students. I would read a few chapters, make sure I understood the material thoroughly, and then teach my students the next week.
My students and I ended up getting A+ certified together. I learned a valuable lesson. To be an expert, you just have to know a little bit more than the customer you’re trying to serve. My students didn’t care that I wasn’t certified yet. They just cared that I knew the material in the chapter we were on and could explain it to them in a way they could retain for the certification test.
Similarly, the small business owners I wanted to target in my web design company knew nothing about coding or graphic design. They didn’t care if I wasn’t fluent in the latest programming language. They just wanted a functional, professional looking website. I started that website company in 2003.
If you still find yourself wanting more knowledge before your business launch, consider taking informal classes run by the Small Business Administration, hiring a coach, enrolling in an online course through Udemy.com or expanding your network to include those who can fill in your knowledge gaps.
Myth #2 – My Plan Isn’t Perfect Yet
If you’ve spent months of researching potential customers and competitors, assessed the industry landscape and made sure financials are in order, but are still hesitant to launch, you may be letting procrastination get the best of you. Having a plan means nothing if you never act on it. After doing so much research, analysis paralysis can set in.
There’s a feeling of, “Maybe I’ve missed some crucial piece of data, and if I launch now, everything will crash and burn.” Yes, that’s a possibility, but if you’ve really done your research, it’s not likely. Figure out what information you absolutely have to have before launch, and once you have it, open for business.
Know that things rarely go 100% right, but that’s okay. Doing something is better than doing nothing. Launch, learn and then perfect along the way. The time is now.