{"id":26910,"date":"2018-04-23T09:06:40","date_gmt":"2018-04-23T14:06:40","guid":{"rendered":"https:\/\/www.crowdspring.com\/blog\/?p=26910"},"modified":"2025-05-23T12:33:46","modified_gmt":"2025-05-23T17:33:46","slug":"startup-myths","status":"publish","type":"post","link":"https:\/\/www.crowdspring.com\/blog\/startup-myths\/","title":{"rendered":"8 Big Startup Myths That Hold Entrepreneurs Back From Success"},"content":{"rendered":"<p><img decoding=\"async\" class=\"alignnone size-full wp-image-26917\" src=\"https:\/\/images.crowdspring.com\/blog\/wp-content\/uploads\/2018\/04\/27131158\/hand-3190204_1280.jpg\" alt=\"\" width=\"700\" height=\"426\" srcset=\"https:\/\/images.crowdspring.com\/blog\/wp-content\/uploads\/2018\/04\/27131158\/hand-3190204_1280.jpg 700w, https:\/\/images.crowdspring.com\/blog\/wp-content\/uploads\/2018\/04\/27131158\/hand-3190204_1280-300x183.jpg 300w, https:\/\/images.crowdspring.com\/blog\/wp-content\/uploads\/2018\/04\/27131158\/hand-3190204_1280-400x243.jpg 400w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/p>\n<p>\n<div class='header-cta' style='display:none'>\n  <span>Will your business idea succeed?<\/span>\n  <a href='https:\/\/www.crowdspring.com\/evaluate-your-startup-idea-quiz\/' class='btn btn-primary' target='_blank'>Take our quiz - completely confidential and free!<\/a>\n<\/div>\n<\/p>\n<p>You don\u2019t have to look far to find evidence that we\u2019re in another prolonged startup boom.<\/p>\n<p>This is good news.<\/p>\n<p>The growth of entrepreneurship is a sign the economy is doing well.<\/p>\n<p>But the more new businesses there are, the more old, often untrue ideas about startups propagate.<\/p>\n<p>From lifestyle and innovation to fame and fortune, myths are found across the spectrum of startup culture.<\/p>\n<p>It\u2019s already difficult to get a new business off the ground. Staying real, and separating fact from fiction can help entrepreneurs navigate the challenges of starting a new business while staying grounded.<\/p>\n<p>To help you separate fact from fiction, here&#8217;s a look at 8 big startup myths (at the truth behind them).<\/p>\n<h2>Myth #1: Follow your bliss, and success will follow<\/h2>\n<p><a href=\"https:\/\/www.jcf.org\/about-joseph-campbell\/follow-your-bliss\/\" target=\"_blank\" rel=\"noopener noreferrer\">Joseph Campbell<\/a> knew what he was talking about &#8211; following your passion can be great.<\/p>\n<p>But chasing down a real problem can offer even bigger rewards.<\/p>\n<p>When you find yourself faced with a problem that no one else has managed to solve, you\u2019ve landed on a solid-gold idea for your next side gig.<\/p>\n<p>Passion may be a great motivator, but it\u2019s a self-driven one. You may find others who share your passion, but it&#8217;s usually easier to uncover a problem shared by many.<\/p>\n<p>Many successful products and services share the <a href=\"https:\/\/www.crowdspring.com\/blog\/brand-story\/\" target=\"_blank\" rel=\"noopener\">origin story<\/a> of \u201cI needed something like this, so I built it.\u201d<\/p>\n<p>The world is always going to have problems. <a href=\"https:\/\/www.crowdspring.com\/blog\/why-follow-your-passion-is-bad-advice-for-entrepreneurs\/\" target=\"_blank\" rel=\"noopener noreferrer\">While having a passion for something is great, having solutions for those problems is often a much more practical way to sink your teeth into a new business venture<\/a>.<\/p>\n<p>Instead of using something you\u2019re passionate about as the genesis of your business, think about a problem to solve first, and then attack that problem with passion.<\/p>\n<p><div class=' hide-for-medium hide-for-large'><div style='padding: 10px 32px;text-align: center;background-position: center;background-color: #DA6D5A;background-repeat: no-repeat;background-size: contain;'><h2 style='font-size: 35px;line-height: 1.2; margin-top: 12px;color: white;'>Free Business Startup Kit<\/h2><p style='font-size: 18px;margin: 20px 0 30px;line-height: 1.5;color: white;'>Receive six actionable guides, including a how to start a business checklist, detailed comparisons of LLCs, corporations, sole proprietorships, and partnerships to determine the best fit for your business, plus insights on crafting a compelling pitch deck to attract investors.<\/p><img style='margin-bottom: 32px;' src='https:\/\/crowdspring3-assets.s3.amazonaws.com\/marketing\/inline-business-kit.png' \/><div style='display: flex; justify-content: center;'><ul style='list-style: none;text-align: left;font-size: 15px;color: white;flex: 1;'><li style='margin-bottom: 16px;'><i class='fa fa-check-circle'><\/i> How to Start a Business Checklist<\/li><li style='margin-bottom: 16px;'><i class='fa fa-check-circle'><\/i>Starting a Corporation Guide<\/li><li style='margin-bottom: 16px;'><i class='fa fa-check-circle'><\/i> Is an LLC Right for You?<\/li><\/ul><ul style='list-style: none;text-align: left;font-size: 15px;color: white;flex: 1;'><li style='margin-bottom: 16px;'><i class='fa fa-check-circle'><\/i> Starting a Sole Proprietorship<\/li><li style='margin-bottom: 16px;'><i class='fa fa-check-circle'><\/i> Starting Business Partnerships<\/li><\/li><li style='margin-bottom: 16px;'><i class='fa fa-check-circle'><\/i> Creating a Powerful Pitch Deck<\/li><\/ul><\/div><div style='margin-top: 14px;margin-bottom: 24px;text-align: center;'><a href='\/business-startup-kit\/' target='_blank' style='background: #23b3f1; color: white; padding: 16px 32px; border-radius: 2px; font-weight: 700;font-size:11px;'>Get your free startup kit<i class='fa fa-angle-right' style='font-size: 20px; vertical-align: middle; background: white; border-radius: 50%; padding: 4px 12px 4px 14px; color: black; margin: 0 -18px 0 16px;'><\/i><\/a><\/div><\/div><\/div><div class='show-for-medium hide-for-large'><div style='padding: 10px 32px;text-align: center;background-position: center;background-color: #DA6D5A;background-repeat: no-repeat;background-size: contain;'><h2 style='font-size: 45px;line-height: 1.2; margin-top: 12px;color: white;'>Free Business Startup Kit<\/h2><p style='font-size: 24px;margin: 20px 0 40px;line-height: 1.5;color: white;'>Receive six actionable guides, including a how to start a business checklist, detailed comparisons of LLCs, corporations, sole proprietorships, and partnerships to determine the best fit for your business, plus insights on crafting a compelling pitch deck to attract investors.<\/p><img style='margin-bottom: 32px;' src='https:\/\/crowdspring3-assets.s3.amazonaws.com\/marketing\/inline-business-kit.png' \/><div style='display: flex; justify-content: center;'><ul style='list-style: none;text-align: left;font-size: 18px;color: white;flex: 1;'><li style='margin-bottom: 16px;'><i class='fa fa-check-circle'><\/i> How to Start a Business Checklist<\/li><li style='margin-bottom: 16px;'><i class='fa fa-check-circle'><\/i> Starting a Corporation Guide<\/li><li style='margin-bottom: 16px;'><i class='fa fa-check-circle'><\/i> Is an LLC Right for You?<\/li><\/ul><ul style='list-style: none;text-align: left;font-size: 18px;color: white;flex: 1;'><li style='margin-bottom: 16px;'><i class='fa fa-check-circle'><\/i> Starting a Sole Proprietorship<\/li><li style='margin-bottom: 16px;'><i class='fa fa-check-circle'><\/i> Starting Business Partnerships<\/li><li style='margin-bottom: 16px;'><i class='fa fa-check-circle'><\/i> Creating a Powerful Pitch Deck<\/li><\/ul><\/div><div style='margin-top: 14px;margin-bottom: 24px;text-align: center;'><a href='\/business-startup-kit\/' target='_blank' style='background: #23b3f1; color: white; padding: 16px 32px; border-radius: 2px; font-weight: 700;font-size:19.2px;'>Get your free startup kit<i class='fa fa-angle-right' style='font-size: 27px; vertical-align: middle; background: white; border-radius: 50%; padding: 4px 12px 4px 14px; color: black; margin: 0 -18px 0 16px;'><\/i><\/a><\/div><\/div><\/div><div class='show-for-large'><div style='padding: 10px 32px;text-align: center;background-position: center;background-color: #DA6D5A;background-repeat: no-repeat;background-size: contain;'><h2 style='font-size: 50px;line-height: 1.2; margin-top: 12px;color: white;'>Free Business Startup Kit<\/h2><p style='font-size: 24px;margin: 20px 0 40px;line-height: 1.5;color: white;'>Receive six actionable guides, including a how to start a business checklist, detailed comparisons of LLCs, corporations, sole proprietorships, and partnerships to determine the best fit for your business, plus insights on crafting a compelling pitch deck to attract investors.<\/p><img style='margin-bottom: 32px;' src='https:\/\/crowdspring3-assets.s3.amazonaws.com\/marketing\/inline-business-kit.png' \/><div style='display: flex; justify-content: center;'><ul style='list-style: none;text-align: left;font-size: 16px;color: white;flex: 1;'><li style='margin-bottom: 16px;'><i class='fa fa-check-circle'><\/i> How to Start a Business Checklist<\/li><li style='margin-bottom: 16px;'><i class='fa fa-check-circle'><\/i> Starting a Corporation Guide<\/li><li style='margin-bottom: 16px;'><i class='fa fa-check-circle'><\/i> Is an LLC Right for You?<\/li><\/ul><ul style='list-style: none;text-align: left;font-size: 16px;color: white;flex: 1;'><li style='margin-bottom: 16px;'><i class='fa fa-check-circle'><\/i> Starting a Sole Proprietorship<\/li><li style='margin-bottom: 16px;'><i class='fa fa-check-circle'><\/i> Starting Business Partnerships<\/li><li style='margin-bottom: 16px;'><i class='fa fa-check-circle'><\/i>  Creating a Powerful Pitch Deck<\/li><\/ul><\/div><div style='margin-top: 14px;margin-bottom: 24px;text-align: center;'><a href='\/business-startup-kit\/' target='_blank' style='background: #23b3f1; color: white; padding: 16px 32px; border-radius: 2px; font-weight: 700;font-size:19.2px;'>Get your free startup kit<i class='fa fa-angle-right' style='font-size: 27px; vertical-align: middle; background: white; border-radius: 50%; padding: 4px 12px 4px 14px; color: black; margin: 0 -18px 0 16px;'><\/i><\/a><\/div><\/div><\/div><\/p>\n<h2>Myth #2: Innovation is King<\/h2>\n<p>Being first isn\u2019t necessarily the ticket to success. In fact, followings in the footsteps of others is often the best way to go.<\/p>\n<p>The tale of companies who created businesses out of brand new ideas is a rare one.<\/p>\n<p>Web search existed before Google. People were couch-surfing before Airbnb came along. And Apple is famous for taking existing ideas (wireless networks, media creation, mice, mp3 players,\u00a0smartphones)\u00a0 and doing them really, really well.<\/p>\n<p>As Apple design lead Jonathan Ive\u00a0<a href=\"https:\/\/www.businessinsider.com\/jony-ive-quotes-on-design-and-apple-2014-6\" target=\"_blank\" rel=\"noopener noreferrer\">said<\/a>, \u201cIt\u2019s very easy to be different, but very difficult to be better.\u201d<\/p>\n<p>Take a close look at most successful companies and chances are you\u2019ll notice that they took an existing idea and delivered a superior solution.<\/p>\n<p><div class=\"subscription-hero-snippet image-on-left\" style=\"background: #000630\"><div class=\"main-content\"><div class=\"image-wrapper\"><img decoding=\"async\" src=\"https:\/\/assets.crowdspring.com\/marketing\/landing-page\/creative-illustration-hero.png\" alt=\"brand identity guide illustration\"\/><\/div><div class=\"form-wrapper\"><div class=\"title\">FREE BRAND IDENTITY GUIDE<\/div><div class=\"subtitle\">Unlock the secret to faster business growth. Get the free guide now.<\/div><div>\n<script>\nfunction submitForm_drip_form(oFormElement) {\n  var xhr = new XMLHttpRequest();\n  xhr.onload = function() { \n    if (xhr.status == 200 || xhr.status == 202) {\n      var formEl = document.getElementById(\"drip_form\");\n      var doneEl = document.getElementById(\"done_drip_form\");\n      formEl.style = \"display: none\";\n      doneEl.style = \"display: block\";\n    } else {\n      alert(xhr.responseText);\n    }\n  }\n  var formData = new FormData(oFormElement);\n  grecaptcha.execute(\"6LcyQTUpAAAAAC5ZPtCYQzRWKR732_LmqInv9YSK\", { action: \"external_bumblebee_lead\" }).then((token) => {\n    formData.set(\"recaptcha_token\", token);\n    xhr.open(oFormElement.method, oFormElement.action, true);\n    xhr.setRequestHeader(\"x-frontendurl\", window.location.href);\n    xhr.send(formData);\n  });\n\n  return false;\n  }\n<\/script>\n<div id=\"done_drip_form\" class=\"done\">\n      <div class=\"success-title\">\n        <i class=\"fa fa-check-circle\"><\/i><br\/> We just emailed the Brand Identity Guide to you.\n      <\/div><\/div><form id=\"drip_form\" action=\"https:\/\/www.crowdspring.com\/api\/v1\/bb\/external_leads\/\" method=\"post\" onsubmit=\"return submitForm_drip_form(this);\">\n      <div class=\"form-group\">\n        <input type=\"email\" name=\"email\" class=\"form-control\" id=\"mce-EMAIL\" required=\"true\"\/>\n        <label html_for=\"mce-EMAIL\" class=\"form-label\">Email Address<\/label>\n      <\/div> \n      <div style=\"position: absolute; left: -5000px\" aria-hidden=\"true\">\n\t<input type=\"text\" value=\"Brand-id-guide-blog-generic\" tabindex=\"-1\" name=\"tags\" readonly=\"true\"\/>\n        <input type=\"text\" value=\"true\" tabindex=\"-1\" name=\"add_country_tier_suffix\" readonly=\"true\"\/>\n      <\/div><input type=\"submit\" value=\"Get the guide\" class=\"btn btn-primary\" \/><p class=\"notice\"> <\/form><\/div><\/div><\/div><\/div><\/p>\n<p>A challenge that some entrepreneurs don\u2019t consider is that innovative, never-before-seen products and services often stand alone. They can\u2019t rely on existing markets or customer awareness to help generate interest.<\/p>\n<p>Customers can be reluctant to try something they don\u2019t understand or they haven\u2019t seen before. This means that products in this category need to launch with a <a href=\"https:\/\/www.crowdspring.com\/blog\/marketing-plan\/\" target=\"_blank\" rel=\"noopener noreferrer\">robust marketing plan<\/a>. Educating consumers why a particular product matters is critical.<\/p>\n<p>Products that improve on existing solutions can leverage customer\u2019s awareness and contrast themselves against what came before them.<\/p>\n<p><a href=\"https:\/\/www.crowdspring.com\/blog\/how-to-use-design-thinking-to-innovate-your-business\/\" target=\"_blank\" rel=\"noopener noreferrer\">Innovation is important<\/a>, but as companies like Apple have proven repeatedly, iteration is just as valuable.<\/p>\n<h2>Myth #3: Your startup should dominate your time<\/h2>\n<p>The misguided notion related to myth #3 is that the more time you invest in a project, the better it will be.<\/p>\n<p>Entrepreneur <a href=\"https:\/\/www.crowdspring.com\/blog\/5_best_tips_for_preventing_burnout\/\" target=\"_blank\" rel=\"noopener noreferrer\">burnout<\/a> is real, and the <a href=\"https:\/\/philpallen.co\/blog\/how-to-avoid-burnout-as-an-entrepreneur\" target=\"_blank\" rel=\"noopener\">types of burnout<\/a> come in many forms. It\u2019s not just your health and wellbeing at stake. Driving your team so hard that they flame out is not only bad for your business, it\u2019s bad for innovation.<\/p>\n<p>Ben Schippers talked about this at length when he looked at <a href=\"https:\/\/techcrunch.com\/2015\/12\/22\/the-startup-the-burnout\/\" target=\"_blank\" rel=\"noopener noreferrer\">avoiding startup burnout<\/a>:<\/p>\n<blockquote><p>People will tell you that having a startup is the craziest and busiest way to live your life. That\u2019s a lie. Most startups only become really busy if they turn into businesses. There are many periods when running a startup is about being patient. You can only code so many hours before it turns to spaghetti. And raising money, especially if it\u2019s your first go round, may require the patience of a tortoise.<\/p><\/blockquote>\n<p>There are <a href=\"https:\/\/www.crowdspring.com\/blog\/5_best_tips_for_preventing_burnout\/\" target=\"_blank\" rel=\"noopener noreferrer\">many ways to avoid burn out<\/a>.<\/p>\n<p>Start by recognizing <a href=\"https:\/\/www.crowdspring.com\/blog\/7-habits-of-highly-effective-and-successful-entrepreneurs\/\" target=\"_blank\" rel=\"noopener noreferrer\">how you work best<\/a>, and what kind of worker you are.<\/p>\n<p>There is no one-size-fits-all answer for how to maximize productivity &#8211; we are all different, and have different strengths. By figuring out what works best for you, you maximize not just your productivity, but your value to your team.<\/p>\n<p>Productivity guru <a href=\"http:\/\/www.carsontate.com\/wp-content\/uploads\/2014\/11\/Productivity-Style-Overview.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Carson Tate analyzed four different productivity styles<\/a> \u2013 the Planner, the Arranger, the Prioritizer and the Visualizer.<\/p>\n<p>Each style has their own communication style, decision-making style, and their own set of tools to equip them for success. Take Tate&#8217;s\u00a0<a href=\"http:\/\/www.carsontate.com\/assessment\/\" target=\"_blank\" rel=\"noopener noreferrer\">Productivity Assessment<\/a>\u00a0to figure out which one you are.<\/p>\n<p>The most important thing to remember when avoiding burnout is that you need to allow yourself time to stop and take a breath. Take time to look back on what you&#8217;ve worked on and achieved, and give yourself some room to step away for a little while.<\/p>\n<p>Yoga, bike riding, running, and even good sleep are all important ways to ensure you avoid burning out.<\/p>\n<p>Not only is this good for your business, it\u2019s good for your health. Consider the quality of your journey and not just the destination.<\/p>\n<p>To learn more about wellness and some useful tips, check out our article \u201c<a href=\"https:\/\/www.crowdspring.com\/blog\/wellness-tips-from-successful-entrepreneurs-and-health-experts\/\" target=\"_blank\" rel=\"noopener noreferrer\">Wellness Tips from Successful Entrepreneurs and Health Experts<\/a>\u201c.<\/p>\n<h2>Myth #4: Investors will flock to you and ensure your success<\/h2>\n<p>While it\u2019s true that you sometimes need to spend money to make money, the amount of money you need to spend is where things get murkier.<\/p>\n<p>The highway of new ventures is littered with the remnants of businesses that started with tons of seed money but ran out with little to show.<\/p>\n<p>A good example of this is the tale of the photo-sharing app Color.<\/p>\n<p>It started with a huge amount of hype, nearly 40 employees, and an equally large amount of cash: $41 million. Just over a year later, the company burned through most of the money and <a href=\"https:\/\/mashable.com\/2012\/10\/17\/color-shuts-down\/#xZpOvV9bGGq3\" target=\"_blank\" rel=\"noopener noreferrer\">closed up shop<\/a>.<\/p>\n<p>Contrast that with Instagram, which started with just two employees, a dramatically smaller amount of money, and went on to be <a href=\"http:\/\/www.businessinsider.com\/instagram-heres-why-we-just-sold-for-1-billion-2012-4\" target=\"_blank\" rel=\"noopener noreferrer\">acquired by Facebook<\/a> for $1 billion.<\/p>\n<p>What\u2019s more important than how much money you start with is how you manage what you have. As marketing specialist Guy Kawasaki <a href=\"http:\/\/ecorner.stanford.edu\/videos\/1925\/The-Overfunded-Start-Up\" target=\"_blank\" rel=\"noopener noreferrer\">said<\/a>,<\/p>\n<blockquote><p>If you look at the truly great start-ups that have come out of Silicon Valley, they\u2019ve been hyper frugal. Cisco, Google in the early days, Yahoo! in the early days, Microsoft. I mean the list goes on and on.<\/p><\/blockquote>\n<p>Doing more with less and being careful to take on investors when it makes sense allows you to grow and mature more sustainably.<\/p>\n<h2>Myth #5: Massive reach on social media matters<\/h2>\n<p>It matters far less how many followers you have and far more how many of them actually purchase your product.<\/p>\n<p>Don\u2019t give in to the temptation to expend all your energy on a short-term boost, like amassing large amounts of followers on social media.<\/p>\n<p>Invest instead in giving thorough attention to your product or service, then extend that attention to genuinely interested customers.<\/p>\n<p>A great way to engage those interested customers in the <a href=\"https:\/\/www.crowdspring.com\/blog\/troll-marketing\/\" target=\"_blank\" rel=\"noopener noreferrer\">wild west of social media<\/a>\u00a0is\u00a0by reaching them through <a href=\"https:\/\/www.crowdspring.com\/blog\/marketing-trends-reach-more-customers-on-social-media-micro-influencers\/\" target=\"_blank\" rel=\"noopener noreferrer\">micro-influencers<\/a>.<\/p>\n<p>Unlike celebrity influencers with hundreds of thousands (and sometimes millions) of followers, micro-influencers have a couple hundred to a few thousand followers.<\/p>\n<p>Even though they have less popularity and aren&#8217;t as well known, they have a considerable advantage.<\/p>\n<p>By taking advantage of a micro influencer&#8217;s more niche audience, you can target your product precisely to your desired audience.<\/p>\n<p><a href=\"https:\/\/youtu.be\/pF3IUGO9rv8\" target=\"_blank\" rel=\"noopener noreferrer\">You can watch this video<\/a> for great tips on leveraging micro-influencers for your business.<\/p>\n<h2>Myth #6: You need a detailed business plan<\/h2>\n<p>Having a plan is important.<\/p>\n<p>You want to know where you\u2019re going, and how you\u2019re going to do it.<\/p>\n<p>But having too detailed a plan can quickly get you lost in the weeds when you should be focusing on moving forward.<\/p>\n<p>Indiegogo founder Slava Rubin <a href=\"https:\/\/businesscollective.com\/top-5-startup-myths-all-entrepreneurs-should-ignore\/\" target=\"_blank\" rel=\"noopener noreferrer\">says<\/a>,<\/p>\n<blockquote><p>Too many entrepreneurs spend months locked away, creating the \u201cperfect\u201d business plan with scenario planning and detailed financial projections. These days, markets change so quickly that you never really know how customers will react to your product or service, or what new technologies will emerge that may significantly change the<br \/>\nbusiness environment.<\/p><\/blockquote>\n<p>It\u2019s very difficult to know for sure how the market will respond to your idea. Instead of committing time trying to hone your business plan and <a href=\"http:\/\/productive.io\/blog\/scenario-planning-software\/\" target=\"_blank\" rel=\"noopener\">scenario planning<\/a> until it\u2019s flawless, try to \u201cget real\u201d as early as possible.<\/p>\n<p>One way to do this is to create a <a href=\"https:\/\/www.crowdspring.com\/how-to-write-a-business-plan\/one-page-business-plan\/\" target=\"_blank\" rel=\"noopener\">one page business plan<\/a>. It&#8217;s quick, efficient, and helps you to get started right away.<\/p>\n<p>Putting your idea out into the world means you can <a href=\"https:\/\/www.crowdspring.com\/blog\/business-design-feedback\/\" target=\"_blank\" rel=\"noopener noreferrer\">get real feedback quickly<\/a>, which gives you more opportunity to fix, improve, and pivot when needed.<\/p>\n<p>Basecamp founder Jason Fried talked about this at length in his book <a href=\"https:\/\/basecamp.com\/books\/getting-real\" target=\"_blank\" rel=\"noopener noreferrer\">Getting Real<\/a>:<\/p>\n<blockquote><p>Details reveal themselves as you use what you\u2019re building. You\u2019ll see what needs more attention. You\u2019ll feel what\u2019s missing. You\u2019ll know which potholes to pave over because you\u2019ll keep hitting them. That\u2019s when you need to pay attention, not sooner.<\/p><\/blockquote>\n<p>He may have been talking about the product, but this is equally true for the business plan. Don\u2019t become beholden to perfection.<\/p>\n<p>On the other hand, taking this too far and assuming you don\u2019t need a business plan at all is equally foolish. You need a plan, but remember your <a href=\"https:\/\/www.crowdspring.com\/how-to-write-a-business-plan\/\" target=\"_blank\" rel=\"noopener noreferrer\">business plan<\/a> is a living document. It will adapt and change as your test the waters.<\/p>\n<h2>Myth #7: All customers have the same wants and needs<\/h2>\n<p>Many entrepreneurs and business owners assume that customers are one homogenous group with similar needs and wants.<\/p>\n<p>This is a common mistake.<\/p>\n<p>There\u2019s no replacement for real market data and research. It\u2019s fine to start with assumptions about who your customers are, and what they need (or think they need), but be sure to verify them.<\/p>\n<p>Many entrepreneurs also incorrectly assume that people will buy something just because they\u2019ve built something.<\/p>\n<p>True success comes from having a deep understanding of the existing problem and the people experiencing that problem.<\/p>\n<p>Engage with your target audience and understand how to talk and market to them.<\/p>\n<p>This doesn\u2019t mean you\u2019re to ask people outright what they want. As Henry Ford was <a href=\"https:\/\/books.google.com\/books?id=JAsqDwAAQBAJ&amp;pg=PT23&amp;lpg=PT23&amp;dq=Henry+Ford+was+rumoured+to+have+said,+\u201cIf+I+had+asked+people+what+they+wanted,+they+would+have+said+faster+horses.\u201d&amp;source=bl&amp;ots=79D3WF7As7&amp;sig=Zk-IqTYrPRtiepofQPq8b3Tf7Bs&amp;hl=en&amp;sa=X&amp;ved=0ahUKEwj37u_n_cjaAhURvFkKHThJDF8Q6AEIQjAJ#v=onepage&amp;q=Henry%20Ford%20was%20rumoured%20to%20have%20said%2C%20\u201cIf%20I%20had%20asked%20people%20what%20they%20wanted%2C%20they%20would%20have%20said%20faster%20horses.\u201d&amp;f=false\" target=\"_blank\" rel=\"noopener noreferrer\">rumored to have said<\/a>, \u201cIf I had asked people what they wanted, they would have said faster horses.\u201d<\/p>\n<p><a href=\"https:\/\/www.crowdspring.com\/blog\/marketing-strategy-persona\/\" target=\"_blank\" rel=\"noopener noreferrer\">We talked in great detail<\/a> about how valuable building a user persona can be for any small business.<\/p>\n<p>User (or <a href=\"https:\/\/en.wikipedia.org\/wiki\/Persona_(user_experience)\" target=\"_blank\" rel=\"noopener noreferrer\">marketing\/buyer<\/a>) personas are generalized, made-up identities that provide a detailed description of your target customer.<\/p>\n<p>Whether you\u2019re <a href=\"https:\/\/www.crowdspring.com\/blog\/marketing-small-business-millennials-strategy\/\" target=\"_blank\" rel=\"noopener noreferrer\">marketing<\/a>, selling, <a href=\"https:\/\/www.crowdspring.com\/blog\/product-design-psychology\/\" target=\"_blank\" rel=\"noopener noreferrer\">creating<\/a>, or providing <a href=\"https:\/\/www.crowdspring.com\/blog\/7-proven-ways-improve-customer-service-small-business-startups\/\" target=\"_blank\" rel=\"noopener noreferrer\">customer service<\/a>, these fictional characters help businesses relate to customers as actual people rather than anonymous numbers.<\/p>\n<p>We recommend starting with at least 3 to 5 interviews for each persona you\u2019re creating in order to identify what your customer really needs.<\/p>\n<p>For example, crowdspring offers design (<a href=\"https:\/\/www.crowdspring.com\/logo-design\/\" target=\"_blank\" rel=\"noopener noreferrer\">logo-design<\/a>, website design, print design, <a href=\"https:\/\/www.crowdspring.com\/product-design\/\" target=\"_blank\" rel=\"noopener noreferrer\">product design<\/a>, <a href=\"https:\/\/www.crowdspring.com\/packaging-design\/\" target=\"_blank\" rel=\"noopener noreferrer\">packaging design<\/a>) and naming services (<a href=\"https:\/\/www.crowdspring.com\/naming-a-business-or-product\/\" target=\"_blank\" rel=\"noopener noreferrer\">naming your business or product<\/a>). Over the past decade, we&#8217;ve helped tens of thousands of diverse clients, including entrepreneurs, small business owners, big Brands, agencies, non-profits, and even governments.<\/p>\n<p>Those customer groups are very different from one another, and each group has a unique set of wants and needs.<\/p>\n<p>You can certainly use the similarities between entrepreneurs and small business owners when directing your product or services toward those groups, but agency clients are very different. You&#8217;ll want to use a different marketing approach.<\/p>\n<p>Ensuring you&#8217;re addressing your customer groups appropriately is an important way to ensure success in your market.<\/p>\n<h2>Myth #8: The dream of overnight success<\/h2>\n<p>The dream of overnight success is just that &#8211; a dream.<\/p>\n<p>Most successful startups took years to grow into the businesses you hear talked about in startup circles, revered in hushed tones as The Ones to Aspire To.<\/p>\n<p>Companies and products like Twitter, Dropbox, WordPress, Airbnb, Starbucks, Instagram, Facebook, and TechCrunch are great examples of successful companies that took the slow and steady approach to success.<\/p>\n<p>The first <a href=\"https:\/\/businessnamezone.com\/blog\/how-did-starbucks-get-its-name\/\" target=\"_blank\" rel=\"noopener\">Starbucks<\/a> coffee shop opened in 1971 in Seattle. <a href=\"https:\/\/titan.as\/startup-myth-overnight-success\/\" target=\"_blank\" rel=\"noopener noreferrer\">16 years later<\/a>, Starbucks was finally ready to expand outside of Seattle.<\/p>\n<p>Matt Mullenweg, the co-creator of WordPress and founder of Automattic, denounces the myth of startup overnight success.\u00a0He <a href=\"https:\/\/titan.as\/startup-myth-overnight-success\/\" target=\"_blank\" rel=\"noopener noreferrer\">explains<\/a>,<\/p>\n<blockquote><p>I was 19. No, I didn\u2019t create it alone, if I did you would have never heard of it. Actually, it entered a rather crowded field, not even close to being first. No, not planning to sell it, there isn\u2019t really anything to sell, it\u2019s more of a movement. No, I didn\u2019t make 60 million dollars in 18 months.<\/p><\/blockquote>\n<p>Automattic is now a billion-dollar company. WordPress alone powers <a href=\"https:\/\/titan.as\/startup-myth-overnight-success\/\" target=\"_blank\" rel=\"noopener noreferrer\">24% of the web<\/a> as a blogging platform, CMS, backend infrastructure, and site-building block.<\/p>\n<p>Building a successful company takes far longer than one night.<\/p>\n<p>When you&#8217;re interested in starting a company, you must grow it carefully to produce a product without which people can\u2019t live. That takes time!<\/p>\n<p>Many of the most successful startups understood that the startup path is about the journey, not the destination.<\/p>\n<p>And they took the scenic route.<\/p>\n<h2>Wrapping up<\/h2>\n<p>When you&#8217;re ready to launch your startup, remember these myths.<\/p>\n<p>We&#8217;re not saying overnight success isn&#8217;t possible or that you shouldn&#8217;t be passionate about your business.<\/p>\n<p>That said, ensure you are equipped with the reality of starting your own business: it takes time, hard work, and a healthy dose of grit.<\/p>\n<p>If you&#8217;ve got the right mindset and reasonable expectations, there&#8217;s no reason why you can&#8217;t get started on chasing your business dream today.<\/p>\n<p><a href=\"https:\/\/www.crowdspring.com\/how-it-works\/?utm_source=csblog&utm_medium=entrepreneurship&utm_campaign=cta\" target=\"_blank\"><img decoding=\"async\" class=\"alignnone size-full wp-image-35262\" src=\"https:\/\/images.crowdspring.com\/blog\/wp-content\/uploads\/2022\/05\/06164948\/startup-blog-master-cta.png\" alt=\"\" width=\"700\" height=\"466\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Separating fact from fiction can help entrepreneurs start a new business while staying grounded. 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We look at 8 big startup myths.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.crowdspring.com\/blog\/startup-myths\/\" \/>\n<meta property=\"og:site_name\" content=\"crowdspring Blog\" \/>\n<meta property=\"article:published_time\" content=\"2018-04-23T14:06:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-05-23T17:33:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/images.crowdspring.com\/blog\/wp-content\/uploads\/2018\/04\/27131158\/hand-3190204_1280.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"700\" \/>\n\t<meta property=\"og:image:height\" content=\"426\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Amanda Bowman\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Amanda Bowman\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"10 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.crowdspring.com\\\/blog\\\/startup-myths\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.crowdspring.com\\\/blog\\\/startup-myths\\\/\"},\"author\":{\"name\":\"Amanda Bowman\",\"@id\":\"https:\\\/\\\/www.crowdspring.com\\\/blog\\\/#\\\/schema\\\/person\\\/3780ec20a7fcb68e3a2e8e90b831b3d2\"},\"headline\":\"8 Big Startup Myths That Hold Entrepreneurs Back From Success\",\"datePublished\":\"2018-04-23T14:06:40+00:00\",\"dateModified\":\"2025-05-23T17:33:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.crowdspring.com\\\/blog\\\/startup-myths\\\/\"},\"wordCount\":2335,\"publisher\":{\"@id\":\"https:\\\/\\\/www.crowdspring.com\\\/blog\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.crowdspring.com\\\/blog\\\/startup-myths\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/images.crowdspring.com\\\/blog\\\/wp-content\\\/uploads\\\/2018\\\/04\\\/27131158\\\/hand-3190204_1280.jpg\",\"keywords\":[\"Leadership\",\"Management\",\"Productivity\",\"Startups\"],\"articleSection\":[\"Entrepreneurship\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.crowdspring.com\\\/blog\\\/startup-myths\\\/\",\"url\":\"https:\\\/\\\/www.crowdspring.com\\\/blog\\\/startup-myths\\\/\",\"name\":\"8 Big Startup Myths That Hold Entrepreneurs Back From Success - crowdspring Blog\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.crowdspring.com\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.crowdspring.com\\\/blog\\\/startup-myths\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.crowdspring.com\\\/blog\\\/startup-myths\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/images.crowdspring.com\\\/blog\\\/wp-content\\\/uploads\\\/2018\\\/04\\\/27131158\\\/hand-3190204_1280.jpg\",\"datePublished\":\"2018-04-23T14:06:40+00:00\",\"dateModified\":\"2025-05-23T17:33:46+00:00\",\"description\":\"Separating fact from fiction can help entrepreneurs start a new business while staying grounded. 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