7 Lies You Are Being Told as a Small Business Owner.

You might want to put your headphones on.

I'm about to tell you some lies. Not really, but we will be talking about lies in this blog. Lies that cause many small business owners to stop pursuing their passion. So many small business owners face discouraging words and opinions when they first begin their entrepreneurial journey. From family and friends to strangers, countless people may try to talk them out of starting their business. They may express concern about the potential risks and failure rates associated with small businesses, or they may simply question why anyone would want to embark on such a venture. Should you listen to the naysayers? In this blog, we are going to dismantle 7 lies people tell small business owners.

Are you ready for it?

*in my Taylor Swift voice*

"The Market is oversaturated"

No, it's not. A lot of people don't know what they are talking about. For the ones who don't know, over-saturated means that there are no more clients/customers who need the product/service you're selling. However, if you know what you are providing is different than what others are providing (even though it may be the same service, product, etc.,) then you are benefiting the market. An over-saturated market cannot gain benefits because all needs are met across the board for a market to be saturated.

Now what they might mean is there is a lot of competition. Now that might be true and it can be intimidating, but it shouldn't be a deterrent. While it may mean that there will be more competition, there are still plenty of opportunities to succeed.

Firstly, high competition in the market is likely due to the high demand for the product or service. If there is a high demand that means there is potential for your business to carve out a piece of the market. So do research into the market to determine what makes your business different. This could be anything from a unique product or service to a different pricing structure or better customer service.

Secondly, even if there are many competitors in the market, they are not necessarily doing it better than you. There may be room to improve upon existing products or services or to fill an unmet need in the market. Having a good understanding of the market can help you identify these opportunities.

Finally, with the right strategy, high competition should not stop you from starting your business. Your strategy should focus on building customer loyalty and brand recognition. Utilizing digital marketing strategies such as SEO, social media, and email marketing can help you stand out from the competition and reach potential customers. Got it?

On to the next lie...

"Your prices are too high"

Deflection!!!! Any price will be a deterrent for customers who can't afford the service/product you provide. When it comes to providing quality products and services, it’s important to charge what’s needed to cover costs. Quality is always worth paying for and charging the right amount enables businesses to stay competitive and thrive. If you read my price correctly blog, your prices are very fair and you are pricing your products/services with longevity in mind.

I get that high prices can be off-putting, but worthy customers will appreciate the quality of your products and services. You want your customers to understand that there is a reason behind your prices and that the cost is worth the value. You aim to not only meet but exceed their expectations and provide them with a product or service that will exceed their expectations.

Therefore hearing someone say "Your prices are too high" should not be a deterrent when it comes to providing quality goods and services. If you believe that your prices are justified your customers will understand that when they receive your products and services. Quality comes first and you should be proud to provide your customers with the best possible experience at the best price. So don't listen to their lies... charge what needs to be charged.

"You have no experience"

Yes, you do! You just don't have the amount of experience they want you to have (And who are they?) If you have the drive and ambition, lack of experience should not be a hindrance to success. It’s a common misconception that you need to be an expert in a certain area to start a business. Sure, experience can help you hit the ground running, but it’s not a prerequisite. Having no experience can often be an advantage as it allows you to approach things with a fresh perspective.

The most important thing when starting a business is to have a good plan. Take the time to research the industry you’re entering, and identify any gaps that you can fill. If you’re seeking funding, be sure to create a comprehensive business plan that outlines your goals, strategy, and how you plan to raise capital. You should also be willing to ask for help. Remember it's not what you know, it's who you know. Reach out to advisors who have experience in the field you’re entering, as they can provide invaluable advice.

The most important thing to remember is that having no experience doesn’t mean you can’t start a successful business. If they tell you otherwise, they are lying. With determination and the right plan, anyone can create a successful business regardless of their experience. Don’t be afraid to take risks and learn from your mistakes. With hard work and dedication, you can create a successful business with no experience.

"You are not good enough"

Who are they to tell you this? Lies! Starting a business can be intimidating, but it’s important to remember that you are more than capable of taking on this challenge. There are many resources available to help you along the way, so don’t be discouraged if you feel overwhelmed. Remember that you have the skills and knowledge to make this venture a success.

One of the keys to success is believing in yourself and your abilities. It’s easy to feel overwhelmed when starting a business, but it’s important to remain confident in your decisions. Taking the time to do research and being mindful of the resources available to you can help you make informed decisions and build a successful business.

It is also important to remember that you don’t have to do it all on your own. Surround yourself with a team of experts who can provide advice and guidance. This could be friends, family, or professionals, such as a mentor, accountant/bookkeeper, or lawyer. Their help and advice can make the process much smoother and help you make the right decisions.

Starting a business is a big undertaking, but it is definitely achievable. With the right mindset and an understanding of the resources available to you, you can build a successful business. Believe in yourself and have faith in your skills and abilities. With the right mindset and determination, you can achieve your goals.

"You don't have the money"

Starting a business doesn't require a lot of money. Many entrepreneurs have gone on to launch successful businesses with very little capital (think of your influencers, real estate agents, lash artists, hairstylists, and landscapers). It is possible to start a business with almost no money by leveraging existing tools and resources to get off the ground. This can include utilizing social media platforms, networking with other entrepreneurs, and utilizing free or inexpensive software. Additionally, some businesses can be started from home with very little overhead. Creative entrepreneurs can start a business by developing a product or service, setting up a website, and finding customers. Do not let the lack of money stop you from making money.

You would think the lies stop here but I have 2 more lies for you!

"You are putting yourself through too much stress"

We set boundaries with our businesses! You did not leave your 9-5 to work 24-7. Absolutely NOT! Honestly though, starting a business can be an exciting but stressful experience. However, it is important to not let stress take over and negatively impact your business journey. Here are some ways you can prove this saying to be a lie.

• First, make sure to take breaks and get enough rest. It is easy to become overwhelmed and tired when starting a business, so make sure to take care of yourself.

• Second, set achievable goals and break them down into smaller tasks. This will help keep you focused and motivated.

• Third, try to stay organized and keep track of tasks. Having a plan and a timeline can help you stay on track and reduce stress.

• Fourth, make sure to take time for yourself and do something that you enjoy. This will help you keep a positive attitude and stay motivated.

• Fifth, don't forget to ask for help. If you need additional support, don't be afraid to reach out to friends, family, or colleagues.

• Finally, outsource, outsource, outsource!! Why miss family events, girl's night out, and date nights to do things such as bookkeeping? Pay someone else to do that! You can, and need to live your life.

It's possible to be able to live a life of ease and have a small business, don't let anyone tell you otherwise.

Be like DJ Khaled!

Finally the last bit of FAKE NEWS

"It's not a good time to start... maybe later."

Umm... how about now? Procrastination and fear of failure can lead to missed opportunities and can prevent you from achieving your dreams. It’s important to understand that success doesn’t happen overnight and it requires hard work and dedication. Making excuses will only lead to more excuses and will keep you from reaching your goals.

Rather than waiting around for the perfect moment to start, take action now and start building your business. Starting small and building gradually can help you sustainably grow your business. Setting realistic goals and breaking them down into smaller milestones can help you stay motivated and make progress. Don’t be afraid to make mistakes and learn from them, as failure is an essential part of the entrepreneurial journey.

It’s essential to recognize that you don’t have to have all the answers. It’s okay to make mistakes and take time to get to where you want to be. Take the next step and start now. It’s important to have patience, stay focused, and have confidence in yourself and your abilities. Don’t be afraid to get out there and take risks, as this is how you will succeed.

So don’t wait for the perfect time to start your business. Take action now and start building towards your goals. Start small, break your goals down into manageable pieces, and keep going. Believe in yourself and have faith that you will be successful. You can do it, just start now!

At the end of the day, never give up on your dreams of owning a successful business. You are brave and have the courage and resilience to keep pushing forward. Your dedication and hard work should be applauded and recognized, and I'm proud of you for defying the odds. Don't let anyone stand in the way of your dreams, and remember that success is within reach. Believe in yourself and persevere – you are capable of achieving whatever you set your mind to. Let's look past the lies and look toward the truth. The truth is you got this!