While it can be easy to get sucked into the glitz and glamour of start-ups, in reality, it can be a different story.

Starting a new business is anything but a walk in the park, but it can be done with the right advice and a strong work ethic.

The purpose of today isn’t to overhype the entrepreneur journey, or, alternatively, put you off it. Instead, it’s about laying down the realities – so you can approach your decision with your eyes wide open.

Myth #1: You need an amazing idea

The first step to starting a successful business is having a great idea, right? Wrong. The truth is that most successful businesses are built on ordinary ideas that have been executed well. What matters more than having a groundbreaking idea is having the drive and determination to make your business a success.

Myth #2: You need a lot of money to get started

Another common misconception about starting a business is that you need a lot of money. While it is true that you will need some start-up capital, it doesn’t have to be a huge amount. Plenty of businesses have been started on a shoestring budget and have gone on to be hugely successful.

Myth #3: You need to be a genius

This one is definitely a myth! You don’t need to be a genius to start a successful business. What you do need is a good work ethic, determination and the ability to learn from your mistakes.

Myth #4: You need to do it all yourself

One of the biggest mistakes you can make when starting a business is trying to do everything yourself. It’s important to remember that you can’t do everything and will need to delegate some tasks to others. Trying to do everything yourself will only lead to burnout and ultimately sabotage your business.

Myth #5: You need to be an expert

Another myth about starting a business is that you need to be an expert in your field. While it helps to have some knowledge about your chosen industry, it’s not essential. Plenty of successful businesses have been started by people who were complete beginners in their field. Knowing the ‘right’ information is what matters the most.

Myth #6: You need to have a perfect business plan

Many people believe they need to have a perfect business plan before starting a business. The truth is that a business plan is only essential if you are seeking investment from external sources. For most people, focusing on taking action and getting the business up and running is far more important. Sure, you need to understand all your expenses, from major ones such as rent to the lesser-known ones like insurance – but this doesn’t necessarily have to be in a strict business plan format.

Myth #7: You need to be risk-averse

Another common misconception is that you must be risk-averse to succeed in business. While it is important to manage risk, the truth is that all businesses involve some element of risk. The key is to identify the risks that are worth taking and to have a plan in place to deal with them.

Myth #8: You need to be lucky

Last but not least, another big myth about starting a business is that you need to be lucky. The truth is, luck has very little to do with it. Successful businesses are built on hard work, dedication and a bit of strategic planning. If you are willing to put in the work, you can be successful, regardless of whether you are lucky.