Entrepreneur #2 - The myths of launching a startup

You want to launch a startup but you are afraid of all the myths our there. Let's see them one by one and get us free from these misconceptions as we move along.

Myth 1 - You need to have all the answers.
Answer: Don't worry. You don't need to know everything at the outset. There is indeed a process that includes methods from disciplined entrepreneurship, designed thinking, lean startup, but nevertheless this are things that you learn as you move along.

Myth 2 - You need to find the perfect idea.
Answer: You don't. Success comes down to execution. If you can fill a need better than what currently exists, you've found a great idea.

Myth 3 - You need more experience.
Answer: For how long? In David and Goliath, Malcolm Gladwell writes about how perceived disadvantages can actually be advantages. When it comes to starting a company, less experience can actually be a good thing. Innovations are rarely made by people within the industry since they tend to do things the way they've always been done. The best way to prove your credibility is by making real progress with your idea.

Myth 4 - You need to be adventurous. There's a lot of risk. Creative. Confident. Smart.
Answer: Many of these qualities come with experience. The only requirement is an open mind and willingness to learn.

Myth 5 - You need to go all in, quit your job!
Answer: You don't need to quit school or your job. It's a risk... Most successful entrepreneurs actually continue with these other commitments until they've reduced the risk of the startup to be able to devote more of their time.
All comes down to prioritizing and managing your time well. Try the 80/20 rule.
This means that 80% of the value comes from 20% of the effort.
Find those 20% of things that are going to yield 80% of the results.

Myth 6 - You need money.
Answer: Maybe not. It actually takes a lot less than you think. Most startups are funded by the founders
or maybe friends and family.
In fact, the average amount of money it takes to start a company is only $10,000 to $30,000!