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TOP 5 STARTUP MYTHS ALL ENTREPRENEURS SHOULD IGNORE

By Slava Rubin

Every day, hundreds of entrepreneurs launch crowdfunding campaigns on Indiegogo to raise money and awareness for their businesses. As CEO of Indiegogo, I have been in touch with potential entrepreneurs from all over the world with a wide variety of business ideas. Across this wide spectrum, I have realized that many entrepreneurs are  misguided by the same myths, time and time again.

Here are the five most common myths about starting a business — and how we’ve seen them get blown out of the water at Indiegogo:

Myth #1: There’s a “right” time to start.

We started Indiegogo months before the financial crisis of 2008, and when the economy took a hit, most people advised us to shut down. However, my co-founders and I were each so passionate about our efforts to democratize fundraising that we pressed forward at all costs. It wasn’t easy, but every time we spoke with someone who was denied a loan from a bank, or couldn’t find a way to raise money for his or her cause, it reinforced our commitment to the mission of Indiegogo — empowering anyone, anywhere in the world, to raise money for anything.

We learned that there is no “right” time to start a business when basing that timing on external market factors. The only “right” time is when you’re passionate about an idea, product or service. Continue reading….

 
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Posted by on October 29, 2012 in entrepreneurship

 
 
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Thought Catalog is a digital youth culture magazine dedicated to your stories and ideas.

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