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Debunking 5 myths about being an online entrepreneur

There are two types of online entrepreneurs when it comes to the way they choose to start a business: the ones relying on networks of friends or partners who light the path and the ones starting on their own. Now, on their path, they all come across various myths that may or may not hinder their growth. Everyone is free to interpret things in their own way, but in some cases, it's better to lift the cloud of misconceptions so you can see what’s real.

These myths have been debunked by well-established entrepreneurs who have concluded, after many trial and error attempts, that theory doesn't always go hand in hand with practice. In the online context, steer clear of these 5 myths about an online knowledge entrepreneur:

  1. Anyone can be an online entrepreneur

    Starting a business requires a lot of grit, perseverance, agility, a thorough understanding of how the online world works, as well as other skills, like being able to adapt to your customers' needs, to create an online community, to find your own niche, and much more. In theory, anyone can be an online entrepreneur, not everyone can make it in the long term.

  2. You have to do everything

    There is a common belief that doing business online is a one-man job. Yes, it's true: you can tackle many challenges, but you cannot expect to be able to do everything on your own. To make sure you use your time productively, dedicating yourself to promoting your knowledge and realizing your vision, you should reach for help when needed.

  3. Online means free

    The internet is a pool of tools and resources that can help you get things started and manage your online business, and some are indeed free or cost very little. This doesn’t mean, however, that having an online business is really free. There are various costs to most of what you need to do, either in the time invested or money so choose your business plan and strategy accordingly.

  4. A big budget for online promotion is paramount for success

    You do need to nurture the advertising part of promoting your business but that doesn’t necessarily mean that you should break the bank. Social media marketing is one of the best ways to market your products online, but good options are SEO, creating a community, reaching influencers, offering free content, being present in all ways possible and on all platforms.

  5. Automate! Automate everything!

    The online world allows you to optimize your work by automating a lot of things like subscriber emails, offers, discounts, surveys, etc. But businesses are run by people for people. You can’t fully automate your social media presence, for example; nor your customer support. These have to include a personalized approach to suit individual buyers.

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