5 Myths about Starting Your Own Business - BusinessTown

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5 Myths About Starting Your Own Business

 5 Myths about Starting Your Own Business

Myth No. 1: You Need a Lot of Money to Start a Business

That just isn’t so. There are plenty of businesses you can start with virtually no money. With most of the many businesses I started, the total investment was less than $2,000. Some I started with literally no money at all.

5 Myths about Starting Your Own Business
You can start your dream business with virtually no money. 

You can sometimes even get your customers-to-be to finance you. This is how I started my Cape Cod map business. I visited the Highway Division of the Massachusetts Department of Transportation to get public domain road plans of the region. Then, I had a graphics company shrink the oversized maps to a usable size. Next, I arranged for a local newspaper to typeset the names of the roads (this was years before the advent of PCs). Then, I had my then 13-year-old brother retrace the roads and the paste the names of the streets onto a mockup of the map.

Finally, I hit the road. I approached local merchants with the mock-up of my map, which had a suggested retail price of $1 each. I suggested that the merchants pre-order 100 copies of the map for just $50, allowing them a $50 profit if they sold out all maps. As an extra incentive, I gave each participating business a free ad to be printed on the rear of the map. One out of every 10 businesses I approached signed up for my suggested deal on the spot, and over half prepaid, incentivized by a small discount. So I had the money in advance to pay for printing the maps, and my business was successfully off and running.

Myth No. 2: It Takes a Lot of Time to Start a Business

I conceived the idea for my Cape Cod map business on a Thanksgiving weekend while I was on winter vacation from college. By the time I returned to school after the holidays – just five weeks later – I had produced the mock-up of the map, had sold every square inch of advertising space on the rear of the map, had sent the final version of the map to the printer, and had already made a nice, tidy profit.

Starting Your Own Business
Just a few weeks could be enough time to start your own business.

If you think this is the only business that you can successfully start in just a few days, think again. Every single summer vacation from college, I started a new business. Some summers, when I was feeling especially bored and restless, I’d start more than one business.

Related: 10 Myths About Entrepreneurs

One year it was bicycle rentals. I went out and bought 50 cheap, used bicycles and rented them out to summer visitors as Bob’s Rent-A-Bike.

Another summer it was boat brokerage and trading. I would seek out undervalued used boats that were for sale, negotiate the best price I could, and buy them for cash on the spot. Then I would clean up the boats, maybe even paint them or do some minor repair, boost the price, and sell them a few days later.

Another summer I started a house painting business called, simply, College Painters. Actually, I was the only college student – most of the painters I hired were teachers on summer vacation.

Myth No. 3: You Need a Lot of Experience to Start a Business

I have rarely started a business in which I have had any directly relatable experience. Besides, what fun would that be? It would just be repetitive and boring. I am amused when people tell me that I shouldn’t be starting out in a business I know nothing about. “What a ridiculous idea!” they exclaim, or “Good luck,” inferring they don’t believe I have any chance of all of succeeding.

I quickly found out that by going into a businesses I knew nothing about, I could easily make some very dumb mistakes. But I also found out something else. I discovered that everyone else in business, including all the established players, make plenty of dumb mistakes too. They just made different kinds of mistakes, and maybe not quite as many. Furthermore, they sometimes all make the same mistakes and they consider it “industry standard operating procedure.”

Related: 12 Questions to Ask Before You Start a Business

Seriously, it doesn’t hurt to have some experience in any business you go into. But for many businesses, experience is not necessary, and you can usually pick up the experience you really need along the way. Besides, any business can be learned, especially if you break it down into digestible pieces. The most complex computer in the world, for example, is just based on simple on/off binary signals. This means that if you stick your finger in a live electrical circuit and receive a shock, you understand the core of how computer hardware and software is built.

I find there are things that are generally more important than experience in almost any business. There are a few key business principles that I will get into later. If you can master these, they will go a long way to helping insure your business success, even if you don’t have a lot of experience.

Myth No. 4: You Shouldn’t Start a Business While You Have a Full-Time Job

For most people, I recommend you keep your current job until your new business becomes established (that is, unless you are starting an unusually complicated business, like a commercial spacecraft engineering firm). Even if your business needs to be staffed throughout the day, you may be better off, initially, keeping your own day job and perhaps hiring hourly help to staff the firm during your working hours, while you do the more critical work at night.

5 Myths about Starting Your Own Business
You should try to keep your current job until your business is well established. 

You are usually better off developing a small business slowly and carefully. First, study how to run a small business. Then, plan the specifics of your own business slowly and carefully. When you finally do launch your business, I recommend starting out as small as you possibly can, testing, analyzing, revamping, and testing again, until you are ready to really roll it out.

These days, with the power and opportunities that exist on the Internet, and the many service business opportunities available, it makes more sense than ever before to run a business on a part-time basis. Even a larger, more complex enterprise can be conducted part time.

Related: Hundreds of Business Ideas – Which One Is Right For You?

Many years ago, my grandfather, also named Bob Adams, started a shoe factory in Lewiston, Maine – not a small undertaking. He enlisted two partners, and while he co-managed his shoe company, he also retained his existing job as national shoe manager of another shoe firm. He even got his boss to loan him money to help start the new business.

Myth No. 5: You Need a Great Idea to Start a Business

I would say this is the most damaging myth of all about starting a small business. In fact, the greater you think your idea is, the greater the chances for risk and failure. Generally, you are better off avoiding wild, new, exciting ideas. Your chances of creating the first successful space shuttle to Mars isn’t that feasible.

Related: The Best and Worst Businesses You Can Start

Your chances of success are much better if you take an existing business concept and refine or modify it in such as way that it is meaningful to customers. Look at some of the biggest and most exciting businesses of our times, such as Facebook, for example. Friendster and other social media sites had the same business model, but Facebook made it much more appealing. Microsoft wasn’t by any means the first company to develop operating systems for PCs, but they became the standard by getting IBM to adopt their system. Walmart wasn’t the first large self-service discount retailer, but they put together a vastly more efficient business model than their competitors. The examples go on and on.

Just about Anyone Can Start a Small Business

You don’t need a lot of money to start a business.

You don’t need a lot of time to start some businesses.

You don’t necessarily need a lot of experience.

You don’t need to quit your full-time job.

You don’t need a great idea.

Don’t let the myths about small business hold you back. It’s probably a lot easier than you think to start a successful small business. Just about anyone can do it, if they have the desire.

So if you really want to start a business, get going on your plans today.

Bob Adams

Bob Adams is the founder of BusinessTown the go-to learning platform for people starting and running their own businesses. Bob has started dozens of successful businesses, including one he launched with $1500 and sold for $40 million. He also has an MBA from Harvard Business School.


Start-a-Business 101

Learn how to start your own business.

Start-a-Business 101 is a complete program for starting your own business.

  Find a great business idea. You’ll get my 6-step method for finding a great business idea. Plus you’ll get my insight on hundreds of proven, money-making businesses that you can start.

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 Attract customers without spending a lot of money. You’ll get a ton of my free and low cost ways to land customers. From simple “guerilla” marketing tactics to the latest in digital marketing, I will show you every way imaginable to pull in customers on a shoestring budget. 

 Start small and grow as fast as you want. I’ll show you how you can start small, even part-time if you prefer, and build a highly successful business. You don’t need a lot of time or resources – but you do need to make the right decisions on key issues – and I’ll show you how to do it.

 Get proven strategies and insider advice. You’ll get the exact same methods I used to build one business after the next. I’ll tell you how to avoid problems. And I’ll show what to do at each step of the way, to start your business right.

 Try it risk-free for 60 days. You can try the whole course and then decide if it’s right for you. If you don’t love it, I’ll give you a 100% refund.

 You so inspired me that I started a business and have started receiving orders. Your videos about how to pick a business to start really got me going after I followed your steps to a tee. Thanks so much!

Bill Bennett – Business Owner

Start a business you love, earn more money and live the life you want. With Start-a-Business 101 you can…

Be your own boss. Enjoy true independence and be the star of your own show. Work when and where you want.

Start a business you love. You’ve got one life to live – so why not start the business of your dreams? I’ll show you exactly how to do it.

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Start-a-Business 101 is perfect for you…

If you don’t have an idea yet.

Start-a-Business 101 includes the proven 6-step method for finding a great idea. Plus you’ll get hundreds of proven, money-making ideas.

If you have an idea but are not sure where to start or what to do.

In Start-a-Business 101, you will learn exactly how to start your own business from start to finish. You will have access to dozens of videos, worksheets and templates that will walk you along the way.

If you want to make sure that you are doing things right.

Start-a-business 101 covers all the common mistakes that entrepreneurs make when getting started. No room for errors, you will learn how to start your business right.

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Follow my step-by-step process that will get you on your way to business success. It will be like having a business coach by your side at all times.

If you want to start any size business or any type of business.

Start-a-Business 101 will help you start any size of business from a one person home-based business to a larger business. And it will work for any type of business including all service businesses, product businesses and Internet businesses.

If you want to become a knowledgeable entrepreneur.

By watching just one video lesson a day, you will quickly become a knowledgeable entrepreneur. You will be ready to start your own business now or at any time in the future.

Hi there, I’m Bob Adams.

I’m a serial entrepreneur and self-made multimillionaire.

I’ve started dozens of successful businesses of all types and sizes including … bike rentals, house painting, employment service, retail business, multimedia company, book publishing, tourist maps, job fairs, Internet businesses, software business, employment advertiser, and used boat sales. 

Most of these businesses I started in my home on a very small budget. 

My biggest success is my book publishing company that I started in my basement apartment with just $1500 and later sold for $40 million. 

I’ve learned what really matters in business. I’ve discovered the concepts that make or break businesses. And I’ve used them to build one successful company after the next. 

Now, my mission is to share what I learned with you – so that you can succeed in your own business. 

That’s why I created Start-a-Business 101.

Success = recipe + ingredients

In Start-a-Business 101, you will get my exact recipe and ingredients for success. I will show you what to do at every step in starting a business. 

You’re not going to go through years of trial and error. 

You won’t have to make mistakes or learn anything the hard way. 

Because the recipe for business success is waiting for you in my course, Start-a-Business 101

In this course you will get the same proven strategies and tactics that I used to create my successful businesses.

My books and courses have been featured in…

Start-a-Business 101 will show you exactly what to do at each step of starting your business.

You will get proven strategies, real-life examples, ready-to-go templates, checklists and worksheets to help guide you along and save you time. 

You won’t have to guess what you should do next or if you are doing things right.

 You will be following the best advice available today. 

You will be getting the same techniques and strategies that I used to build one successful business after the next including the one I started with $1,500 and sold for $40 million. 

You will put your startup on the fastest and most proven path to success.

Here’s the course for your new business journey. Beginning entrepreneurs will hugely benefit from Start-a-Business 101. The videos clearly explain each element of building a new business. The advice is savvy and on point throughout. I highly recommend it for anyone involved in any kind of startup.

Rick Williams – Managing Director, Williams Advisory Partners LLC

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You can access Start-a-Business 101 on all your devices, including your computer, your tablet and your smartphone.

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Get instant access to the entire course, including all the video lessons, all the tools and the discussion board.

Learn at your own pace

Watch just one video lesson per day and you will complete the whole program in about 10 weeks. Or you could even binge watch the entire course in one weekend. It’s up to you!

Full lifetime access

You can access the entire course as long as you want and as many times as you want. For example, you could go through the entire course to quickly build your entrepreneurial knowledge. Then you could go back to specific lessons as you are working on various aspects of your business.

Watch the overview video

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Start-a-Business 101 gives you everything you need to start your business.

Rock-solid advice

You will learn my proven strategies and tactics for starting your own successful business.

Easy to follow videos

You will be guided step by step through the whole process by 76 short and easy to follow videos. 

 Business tools

You’ll also get 46 downloadable templates, worksheets and samples to guide you along.

  Start-a-Business 101 Course Content

1.  How to get started with your business

2.  Discover hundreds of great business ideas

3.  How to choose the best business idea for you

4.  How to validate your business idea

5.  Find the perfect name for your business

6.  How to choose the best legal entity for your business

7.  How to create a powerful competitive advantage

8.  How to create your business plan

9.  How to do your accounting and financial statements

10.  How to get the money you need to start your business

11.  How to create your marketing and attract customers

12.  How to build your online marketing presence

13.  How to make sales and land your first customers

14.  The Small Business Toolkit

15.  The Discussion Board

Every step of the course is filled with videos and companion tools to show you exactly how to start your business.

Start-a-Business 101 includes 46 templates, worksheets, checklists and samples

These tools will save you a lot of time, keep you organized and further guide you along the way to launching a successful business as soon as possible.

Fill-in the blank templates make it easy to plan your business.

Watch sample videos

Looking for a business idea? Discover the critical questions that you must ask to find the very best idea for you.

Learn how to create a one page business plan – the most important document for starting your business.

Learn how to find the best customers for your business.

Discover how to create a unique sales message for your business.

   Having run across your videos was a godsend to me. Your method provides me the structure I need to be successful. I am willing to put in the work to go through your complete course which so far has been incredibly helpful.

Phyllis Marks – Starting an Online Business

Will Start-a-Business 101 work for me?

This course is made for you:

  • If you want to generate a new income stream.
  • If you don’t have a business idea yet but want to be your own boss.
  • If you have an idea but are not sure how to get started or what to do first.
  • If you are ready to get started but want to make sure you are doing things right.
  • If you want guidance from someone who has done it before – multiple times.

Start-a-Business 101 will work for all types of businesses. And it will work for all sizes of businesses from one-person home-based businesses to larger enterprises.

Don’t have an idea yet? No problem. I will give you my 6-step process for quickly finding a great business idea. Plus I’ll show you hundreds of my best, money making business ideas, along with my insight on each one.

Wondering how to turn your idea into a profitable business? I will show you how to do it – every single step of the way.

You will learn how to plan your business, how to get the money to get started, how to do marketing, how to do accounting, how to make sales, how to set up your website and much more. You will have access to all my tools – including worksheets, case studies, checklists and templates – that will save you time and money.

I can promise you that you will get the very best strategies and ideas available today. You will get the exact techniques that I used to build my businesses, including the one I sold for $40 million.

Still skeptical? I get it. Sometimes you have to see it to believe it.

I got you covered. You can take this whole course completely risk-free.

You can test drive the entire course for 60 days.

That’s right. You can have full access to the whole course for 60 days. If you decide it’s not for you, or if you don’t love it, I’ll give you a 100% refund. No questions asked.

I can’t promise you that your business will absolutely succeed. No one can.

But I can promise you that I will give you the very best strategies and ideas for every step of starting your business.

And I stand behind that with my 60-day, 100% money-back guarantee.

I want you to start a business. And I want you to start it right.

 I have researched the marketplace for over a month to identify a viable and comprehensive ‘go-to’ guide on how to best launch a small business. This course offering from Bob Adams met more than what I was looking for.

Steve Cox – Experienced Businessman

Get Start-a-Business 101 and get $750 in bonuses – free

I am pleased to tell you that I am adding two limited time bonuses to Start-a-Business 101

These bonuses will make it even easier and quicker to get your own business up and running. 

The Ultimate Checklist to Starting Your Own Business 

This 18 page checklist will show you exactly what to do to start your business.

This extremely comprehensive 18 page document includes all the steps to start a business. Plus I give you my expert advice on every single step. 

This checklist will keep you totally organized and make sure that you are not missing anything important. 

This checklist is the ultimate shortcut in getting your business up and running. It will be your constant companion in starting your business. The checklist has a $500 value but I will give it to you as one of my welcome gifts for joining Start-a-Business 101.

How to Launch a Business Fast and on a Tight Budget Using MVP

Use this video to start your business fast and on a tiny budget.

The second bonus is a game-changing video/lesson. In this video/lesson I will teach you the concept of Minimum Viable Product, or MVP. 

You will learn how to start your business faster and for less money, than any other way possible. 

This important video/lesson has a $250 value but I will give it to you as one of my welcome gifts for joining Start-a-Business 101

So consider joining Start-a-Business 101 now if you want to get these limited-time free bonuses – a $750 value.

 Bob has been a close friend and trusted business adviser of mine for years… guiding me through the challenges we all face as entrepreneurs. Hands down Bob is one of the most talented, and successful entrepreneurs I know. Thanks Bob!

Matt Marshall – Founder, MGM Capital Investments

Frequently Asked Questions

When does the course start and finish?

This online course is completely self-paced – you decide when you start and when you finish.

How long do I have access to the course?

After enrolling, you have unlimited access to this course for as long as you like – across any and all devices you own.

What if I am unhappy with the course?

If you are unsatisfied with the course for any reason, please contact us within 60 days and we will give you a full refund, no questions asked.

What are the course requirements?

This course is for anyone thinking about starting a business. You don’t need to have any previous business experience whatsoever. Even if you have business experience, you will discover a vast amount of powerful new ideas that will help propel your business ahead.

Can I download any of the content?

Of course! All the worksheets, case studies, samples, and templates are downloadable.

Start a business you love, earn more money and live the life you want.

Start-a-Business 101 is the fastest and easiest way to learn how to start a business and become a knowledgeable and successful entrepreneur.

Start-a-Business 101 is a complete proven program that will take you step-by-step through your entire startup journey.

You will get…

  Easy-to-follow videos

  Ready-to-use tools

  Discussion board

  Inside advice

  Proven strategies

  Complete lifetime access

In just a few minutes a day, you will learn how to start your own business.

You can test drive the entire course for 60 days.

That’s right. You can try Start-a-Business 101 risk-free for 60 days. You will have full access to the entire course. If you decide it’s not for you, or if you don’t love it, I’ll give you a 100% refund. No hassles. No questions asked. I want to help you succeed in your own business.


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Learn how to start your own business.

Full Lifetime Access 

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Get on board now if you want to make sure you don’t miss out.

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