Ever hear of startup myths? These are practically business rules concocted by other startups in the hopes of motivating someone or giving you an idea of just how tough building a startup really is. But here’s the problem — most of the time, they live up to their name when it comes to being myths. Having startup myths debunked might be wise before you even start raising capital.
That’s because even though a startup may go the way of the dodo, that doesn’t mean they all will. Startup myths are just that, and the truth is they’re usually debunked by good old fashioned business sense, or perhaps even with a bit of research.
Not much, though. In fact, the following three startup myths were able to be debunked in a matter of three minutes. All you have to do is read between the lines, and — BOOM! — they’re as good as dead. You’re on your way to your next step in business.
So without further ado, let’s look at three of the bigger startup myths out there. Learn why they’re exactly that and hardly any real threat to your business plan.
1. There’s a desperate need for deadlines.
In general, companies like to put deadlines into place. Whether it’s the release of a movie, the development of a video game, or simply pushing a product out in time for the holiday season, a lot of them set these in order to keep business flowing smoothly.
But there’s a big problem with that. It means putting reliance more on the bottom line of a product, rather than the product itself.
So, no, a startup does not need deadlines to survive.
Are they important in some cases? Sure, depending on which avenue of business you’re in. But you don’t need them in order to keep business flowing.
The problem with meeting deadlines is putting a business environment into what’s called a “crunch” period. This means many late nights in which people are worked tirelessly beyond their means.
What’s worse, if the product fails, all that effort is for naught, and people become exhausted with their jobs.
That’s why it’s one of those startup myths. You do not need deadlines to get by. In fact, a lot of companies these days prefer to go at their own pace. That way, people can work comfortably and get a quality product out there. That might not be everyone’s speed on the market — but it certainly should be.
2. Everyone should be in the same space.
When it comes to startups, most people like to set up a comfortable working space, one in which everyone can work together without having to be crunched together.
But, surprise, those of you suckered by another one of those startup myths will believe that everyone needs to work in a tight, enclosed area, where communication is better made rather than through electronic means.
This is easily debunked for two reasons.
- The first is comfort. If you put an employee into an uncomfortable scenario and force them into a working environment where they can barely breathe, it’s going to create something of bad form.
- The second and more important thing, however, is health.
We are just coming out of a COVID-19 pandemic, and even though we’re starting to clear up, there’s still caution to be had. That’s why a small workspace is a no-no, mainly because people are starting to get used to going back to the office alone.
Having a big work area in which people are spread out, but still in a manageable spot to communicate, is the better — and far healthier — way to go.
So, yeah, you don’t need everyone in one spot. In fact, the more spread out the better. This is primarily true for health reasons. It also means not having to smell the office buddy who’s in love with their Axe spray.
3. You won’t make money right away.
How in the world are you going to start up a business built on the most ridiculous of the startup myths out there? “You’re in a position where it’s going to be a while until you make money.”
How did this become a thing?
Here’s why that’s debunked. The right business partners can easily set aside a financial plan in which their office space is defined. The right people are hired. Productivity scheduling is put in place so the money doesn’t go into the wrong resources.
It’s all a matter of funneling the budget into the right areas. If that’s done, then there’s very little reason why a business shouldn’t make money.
Now, with the wrong business partners — the ones that throw around cash like it’s going out of style and immediately say they’ll be a hit — those are likely the party members that made this startup myth happen in the first place. But, alas, they run out of business quickly, and guess who are the ones left standing? That’s right, the business partners that have it right.
So there’s no reason to be worried when it comes to these particular startup myths. Just keep your head on straight, remember to take care of your finances and those that work for you, and create a business space more around convenience and comfort than crunch. You’d be surprised just how long your startup will sustain.