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Enterprising Myths and Facts

Focus on the facts and ignore the myths

Enterprising People
If you have an enterprising idea and thinking about starting a business, make sure you pay attention to the facts and not the myths listed below. Otherwise, you may never get started at all!
 
Myth: To start up in business you just need to find the right idea.
Fact: To start a business you need to find the right market for your idea, in other words, find people of businesses who are willing and able to pay for your products or services. Otherwise your idea is worthless.
 
Myth: All new businesses are started up and run by entrepreneurs.
Fact: The vast majority of small and micro-enterprises are started by enterprising people. Some do not even want to start up, but see little other choice. Many have no business experience or commercial acumen.
 
Myth: Everything you need to know about starting and managing a business is available online.
Fact: Much of what is published about business online is either out of date, or of questionable accuracy and value. The majority of what you need to know is invariably available much closer to home from trusted advisers, peer groups and networks.
 
Myth: Lack of access to bank loans and other external finance is the biggest barrier to success in starting or running a business.
Fact: Lack of customers and orders is the biggest barrier for most new and small businesses and that is generally the main cause of their cash flow and other financial problems.
 
Myth: Most people who start or run small businesses have the desire and ambition to grow them into larger businesses.
Fact: Most small firms and sole traders have no interest in growing, they are more concerned with survival, being more profitable, paying their bills on time and putting food on the table.
 
Myth: People who seek out support are more likely to start and run successful businesses.
Fact: Guess what – this myth is a fact! Contact us to find the support you need.
Enterprising People in Ribble Valley (www.enterprisingpeople.org.uk) offers free, confidential, 1:1 support for local people and organisations with enterprising ideas they want to make happen. We will help you develop your idea, test whether or not it will work and help you do what needs to be done to get it off the ground. We have a team of trained, local enterprise mentors, who each have extensive business experience they can call on to support you. We also have an extensive (and growing) network of businesses and like-minded people across Ribble Valley.
Our mentors will help you explore your idea, and the network will answer questions, identify resources, find connections and solve problems. This will grow your local circle of support and increase your chances of success. It doesn’t matter if your enterprising idea is small or large. You may be considering how you can turn your hobby or passion into a small income, or working out how to develop a new local service that will benefit the community. We believe that anyone can start or develop a business or a social enterprise, so long as they have the determination to make it happen and the right support.
We are ready to support you now, all you have to do is contact us.

 

Email hello@enterprisingpeople.org.uk today. 

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