Myths about digital business do exist. There is a thin line between building a traditional physical business and an online one. The barrier to starting businesses has been broken with the invention and advancement of digital business. This advancement and globalisation of digital business have also brought about overwhelm, pressure and stress that in turn led to myths about running a business online.
In this post, I will address and bust 15 myths about digital business and show the facts to bust them so you can go on and build your digital business without overwhelm.
Myth 1 – The most common myth about The Digital Business World is that it is saturated:
There is a lot of information online regarding the digital business world. This has led to the myth of one thinking that the digital business world is saturated. FACT is There is space for ”YOU” in the Digital Business World. Problems exist every day. I don’t think the world will ever run out of issues and that’s why you are needed. Your audience awaits you to take the bold step and bring their solution forward.
Myth 2 – You can start without any investment:
This is not entirely true. FACT: You are already paying for your business in ways you don’t pay attention to. You can start without anything but remember that a lot of things that contribute to your business are being paid for already which you might not pay attention to. Things like your internet, your time, your brain power, your phone, your laptop, etc. Here is a post talking about where to invest in your business today without the fear of losing out. Read it HERE.
Myth 3 – Fake it till you make it:
A lot of creators that went down this route have all fizzled out. You don’t need to lose your personality and integrity just because you are building a digital business. The FACT is You can build social proof and still have your integrity intact. There are lots of ways to build integrity. You can do the beta launch of your offers or do free sessions to collect feedback.
Myth 4 – You don’t need a website:
This is also not entirely false. Most people focus on building a website instead of building out their offers. The FACT is Your offers first before a website. You don’t need a website first but you do need where people can find you and your offers so they can easily work with you.
Myth 5 – You can make a steady income without an audience:
This is false. You cannot make a steady income without an audience. Who will you be selling to?
FACT – You need to grow an audience:
You need an audience of people who know what you offer, how you can help them and are willing to buy from you. You will only build a business of feast and famine without an audience no matter your niche or industry you are in the digital business space.
Myth 6 – Digital business is not a real business:
Not Many words but this a pure lie The Fact is Digital Business is a genuine solid business: To grow a sustainable and profitable digital business, you need to have a strategy, grow your foundations, market your business and fulfil your orders. A business with a structure is real. What else are you looking at?
Myth 7 – You need to be online 24/7:
Very falsified information here. FACT: You are not required to be online 24/7 to grow a successful digital business:
There are different methods you adopt that will help you to build and grow your digital business. You also have the option of delegation. So, you don’t need to be online 24/7 to grow your business successfully.
Myth 8 – You need to have all the skills, especially Tech
No, you don’t need all the skills. FACT – You need the skills relevant to your goals and vision: We can’t be a jack of all trades and master of none. Focus on the skills relevant to the kind of business you are building and delegate or hire others. You can’t be doing ALL the things in your business.
Myth 9 – You can make passive money without any effort
Passive doesn’t mean no effort. FACT – You need to put in some work to create and sustain passive income. Your idea has to be validated, structures need to be put in place to ensure you grow a sustainable passive income.
Myth 10 – You don’t need a business plan
FACT – You need strategies, processes and tools to set your business for success
Myth 11 – Social Media Marketing is all you need
You need more than Social Media FACT – You need to build your personal or business brand You need to build your business beyond social media marketing. Look out for platforms that you own and can control.
Myth 12 – Running Ads is not for you
This is just false. FACT – You can run ads to grow your business. Running Ads is not for a specific set of people or niche. You can run ads to grow your business too. you can run Facebook or Instagram Ads.
Myth 13 – You can’t work globally because of your location
This is not true. It exists but shouldn’t limit you. FACT – Your location might limit you as some people choose whom to work with but that shouldn’t stop you.
Myth 14 – Follow niches you are passionate about
Passion doesn’t always pay the bills. The reality is to look out for problems and provide a solution to it.
Myth 15 – Quit your Job to succeed:
FACT – You don’t need to quit your Job to succeed
Replace your income first before quitting your Job unless your Job is beyond what you can bear at the moment.
Conclusion regarding myths about digital business:
I hope these myths have been debunked with the facts stated. You can grow and sustainable business with the right strategies, processes and community. Join our Community HERE.
Do you have Myths you want to be debunked? Share in the comments.