Thinking you can do it all by yourself. Working solo is not working alone. Success depends on developing and using a network of colleagues, friends, mentors and professionals that can provide advice, assistance and direction in tough times. Thinking that success will come quickly or easily. There are a lot of myths bound up with the concept of starting a business.
Success takes long hours, strategic planning, and a commitment to the work involved.
The rewards are great, but the effort is, too. The amount of money needed to launch a solo venture is as varied as the businesses entrepreneurs launch. First, determine how much you'll need by doing your business plan and speaking with your financial advisors. Armed with this information, you can then make an informed choice to either raise the necessary funds, or scale back your plans to match your current financial situation. For many small service businesses, this amount is enough to establish the business, create some marketing materials, and invest in inventory.