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Over the last 13 years, I consistently come across the same common misconceptions about starting an online business… no matter what industry we’re talking about! There’s a pattern here that needs to be broken.

Get ready to hear the most popular myths in the biz world (hint: you’ve probably already heard of one or two) and prepare to pull back the curtain on the REAL TRUTHS behind them.

Listen in to the Self Paid Club podcast episode 005: Busting 9 Common Myths Around Online Business to break these down with me, so you don’t hold the wrong information as an excuse to forget about your dreams.

Myth No.1

🚩 Making money is easy.

✅ Making money definitely doesn’t start out easy, but it *gets* easy as your business grows.

When you’re in the trenches of first starting, it’s anything but simple. Every single task comes with a giant learning curve.

But as you learn what your audience responds best to, set up automations to free up your time, design systems you can follow so you’re not making it up from scratch every week, and build your business around your lifestyle (instead of the other way around), things will start to flow much smoother.

Myth No.2

🚩 Your loved ones will be the most supportive. 😬

✅ You have an amazing business idea, you’re ready to get started, you announce it on your social media, and… crickets. Not even a like from your best friend.

Next time you see your friends and family, you tell them what you’re planning (or what you’ve already launched) and they say it’s not a good idea and you’re wasting your time. You’re crazy for thinking that’s better than having a “real job” and getting a pay cheque every two weeks. They tell you you’re making the biggest mistake of your life.

You’d think loved ones would be the most supportive of your dreams, but most of the time, the exact opposite is true. Business owners KNOW their biggest supporters are strangers on the internet!

If the lack of support hurts you, remember this…

Your family and friends aren’t supposed to understand your business because they’re not your ideal clients!!!

Myth No.3

🚩 You’ll have tons of spare time.

✅ It is possible to work less hours and spend more time doing the things you love, with the people you love. But you have to intentionally design your business this way.

If time freedom is one of your biggest goals, think long term and set up automated systems and funnels to support this lifestyle. There are so many automation strategies you can use to keep your revenue flowing while you’re sipping a margarita on the beach. 🏖️

Myth No.4

🚩 Business growth will be super fast.

✅ Most people give up during the first 30 days because they’re not seeing any results. Ironically, you HAVE to keep showing up to start seeing those results.

Things will start out slower than you anticipate. It’s not going to be a steady increase. But with the right business growth strategies, that growth will turn exponential month over month, compounding into something magnificent.

Progress will be slow, until it’s not.

Myth No.5

🚩 You have to be on all the social media platforms.

✅ In reality, you only need to be on ONE platform, especially in the beginning.

The more platforms you’re on, the thinner you’re spreading yourself.

It’s better to become a master of one platform than to show up and have mediocre content on five at once.

Myth No.6

🚩 Personal growth is a hidden waste of time.

✅ Your business will only grow as much as you do.

That’s why mindset work and personal development are SOOO IMPORTANT (!!!) when it comes to scaling a business.

For example, if you’re stuck at a certain income level (say $5k months), your mindset around money could be blocking you. Because you’re not prepared to handle that volume of revenue coming in yet. You need to eliminate beliefs that could be holding you back.

The same things that got you here, won’t get you there. Scaling to higher levels requires different strategies and showing up as the next level version of yourself.

You have to BECOME the version of yourself that is already making those $50k months and be in that energy. Embody that version and act like the future you that already has it. How would you be showing up? What would you be thinking every time you made a sale? How would you be responding to people in your DMs?

Myth No.7

🚩 You have to offer something for free.

✅ Free offerings aren’t the only way to build community. You don’t need to give anything away for free, even if you’re just starting out and have zero clients or testimonials.

There are so many other ways to grow rather than just relying on free lead magnets. You might consider a low-ticket masterclass or challenge, or a low-priced ebook or guide instead.

Myth No.8

🚩 You’ll have less security than a typical 9-5 job.

✅ Jobs are not guaranteed. You can be replaced in under a week if need be. You can suddenly be let go, with nowhere to turn. Your hours can be cut (which means your pay too).

When you run your own business, just like with anything else in life, there is some risk. However, you’re in control of your sales and your income. If you want more predictable income, create an offer that will bring you that (some form of monthly recurring revenue).

You’re ultimately in control, instead of leaving your fate up to a boss that doesn’t personally care about you.

That’s exactly what I teach in my coaching experiences – how to create your own financial independence, so you’re no longer relying on anyone else.

Myth No.9

🚩 The income potential is unlimited.

✅ This one IS true, but it’s harder to reach on your own. Trial and error will only get you so far.

If you’re stuck at a certain income level and you can’t seem to get to the next growth stage, you need some outside help and guidance from someone that’s already achieved what you’re after. An experienced coach that’s shown others how to do it too can SPEED UP your progress and get you those mind-blowing results.

You’re invited to join my 3 Days to Freedom Challenge. It’s a completely FREE mini course where I coach you every day on one of the 3 Pillars of Freedom™ – time, money and mindset – so you can build insane wealth in your life and business, without the hustle. Sign up now, get lifetime access, and go through it at your own pace, again and again. Because this one’s worth watching multiple times. To grab your free spot, click here.

Can you think of any other misconceptions about starting a business and what it’s actually been like for you? 🤔