With just one week left of National Small Business Month, we wanted to give a shout out to all of the locally-owned Charlotte businesses, whether they’re restaurants, coffee shops, candle stores, boutiques, and everything in between. Small Business Month, as put by Charlotte Mayor Vi Lyles, recognizes the entrepreneurial spirit of the Queen City by honoring all small businesses and entrepreneurs who persevered through the coronavirus pandemic and exhibited exceptional leadership throughout the community.
As a local, Charlotte law firm that represents small business owners and franchisees for everything from starting a business, to buying or selling a business, or even disputes and litigation with competitors, employees, and customers, DYE CULIK PC is here for all of the Charlotte small businesses. We have represented many businesses in the area and have come across a few common myths about running your own business. Below are a few ‘fact or fiction’ statements that are commonly misunderstood in the small business world!
Fact or Fiction?
1. You have to start at the “right” time
FICTION: There is no right time. Each person’s timeline is completely different. Some people choose to quit their full-time job before starting a new entrepreneurial adventure, whereas others take on the new task at the same time. Some people wait until their children are grown, others create their business while their children are still running around the house. Timing will never be 100% perfect, so just go for it. We’re here to back you throughout the entire journey, whenever you are ready.
2. Having a business partner will help the entrepreneurial process
FACT: In today’s work hustle, its easy to assume that everyone is supposed to work all alone as a “solopreneur.” However, don’t get caught up in the idea that to run a business, it should be you and only you by yourself. Adding another business-minded person or creativity partner can really enhance your business and compliment your own strengths. Having a teammate can share the risk, the reward, and the excitement of the new business.
3. You need a lot of experience to start a business
FICTION: Yes, it would be helpful to know all of the ins and outs of starting your own business, but sometimes, you will not have everything figured out before you begin. A dream will just stay a dream until you act on it and take the first step. After all, once you begin, you will instantly start gaining the experience.
4. The customer is always right
FICTION: The customer is right until they go against the businesses’ protocols and principles. Sometimes, even the consumer can act out of hand which could inevitably hurt your business. Let your business foundation and beliefs guide you and don’t be bullied into doing something that ultimately may not be right for your business.
5. You do not need to take huge risks to succeed
FACT: Do your research before you begin. Is there a demand for your type of business in your area? Are there other businesses similar to yours? After understanding the business environment, you will have a better idea of what to expect and estimate what cost-effective steps you can take to ensure a successful outcome.
In conclusion, starting a business takes tenacity, determination, and a strong work-ethic. Here at DYE CULIK PC, we commend all the small businesses, but especially those in our hometown, Charlotte, NC. We applaud our local small business heroes all year long. If you need help or legal advice for your small business, you can give us a call at 980-999-3557. Also, follow us on Instagram for the latest updates on CLT small businesses.