Sherri and Jessie of StarrCox on Debunking 7 Myths

How do we build a business that continues to expand? 

Taking a quick look back at the beliefs you have operating your business, do you think some of it drained your business? Did you have the right principles to help your business work to its fullest potential?

In my previous podcast, Sherri and Jessie the creators and owners of the @starrcox.community, online support & services for coaches, shared and debunked seven myths that most entrepreneurs believe when starting a business. Most of these beliefs are pretty common. I was also guilty of believing in some of these myths when I was just starting my business.

So in this blog, I'm going to share with you their insights about these 7 myths, marketing, and some tangible tips to help entrepreneurs get off these wrong beliefs.

Myth #1. If you build it, they will come.

We all might've seen this myth everywhere and it's pretty common. But the truth is "you're the marketer of your business" and they're not gonna find you if you don't market your business. You need to inform your potential client of the why's of your business and market it to the world.

Tip: Embrace the fact that you own a business. That means learning the skills you need to learn in your business. 

Myth #2. Social Media is the only way I'm going to find clients.

While it is true that there are a lot of people doing social media, it's not enough to get you sales. The truth is, clients are everywhere and social media is not just the only way to get them. You can talk to everyone about your business everywhere.

Tip: Make this decision that every time someone asks you "what's new", or "how are you", get ready to talk about your business. Just be true, it doesn't have to be too formal or sales-like. 

Myth #3. If my product/service is good enough, it will sell itself. 

Your product will not automatically sell itself no matter how effective or good it was. You need to learn how to market it. And marketing is an art and a skill. If you want to make a sale you have to learn it first. 

Tips: Research what your audience wants or needs. Learn about marketing and be sure your service is what your client is asking for. 

Myth #4. I need to charge my worth.

Pricing or charging fees is not about your worth. It's about the value you created for your client. Also, you couldn't charge your worth, you are not your product. There's no way you can charge your worth. You have to do a lot and understand your client and services price-wise. Before you get ready for the big prices. So, if you're just starting, then hold back on charging too much and learn the right way of pricing.

Tip: Stop asking "What is my worth?", and start asking "What is the price of the value or quality that I can give to my clients with my product or services?".

Myth #5. If I'm not making sales then I've got to change my niche.

Sales take time. You have to be in-depth with your niche and be patient with the process.

Tip: Put the story of yourself. Work on your intangibles first. Work on how you talk about it. Knowing your niche deeper and looking deeper into the person you want to work with daily, "intentional clients".

Myth #6. It's all on you because you are a "Solopreneur"

You need a team. You need other people to help you out. Solopreneurship is not the goal. The goal is to have a business that can sustain you. The goal is to have a life.  

Tips: Building a business also means, you need people. Hire people to support and help you out. 

Myth #7. I only need to invest one time in my business to reach all my goals.

Believing that you only need to sacrifice a few to reach all of your goals is a myth and it can also become a stumbling block. It gives false hope about what entrepreneurship is like and it makes other people quit because they assume and have higher expectations with their timeline. When you believe you only need to invest time to get there, it's a block that stops people from investing again in coaches that can help them learn skills to get there.

Some people love hearing the easy way, but the truth is, there's no easy way, you have to put in the work and invest. 

Tip: Be cautious and aware, and realistic about what it takes to be in a business. 

Takeaway: 

When I first started working for Meraki, I recall that instead of delegating some of the work to my team members, I clung to every aspect of what we were doing for our clients, telling myself that "I was the only person" who could finish that project. Asking for help was very difficult to do.

As a result, I was worn out and anxious. I lacked the motivation to be my best self.

So, if you're starting up your business career at the moment, think deliberately about these 7 myths mentioned. Are you currently believing in some of these? If you are then it's time to let go. Take on the challenge of the entrepreneurial journey with the right people, the right beliefs, and the right skill set to grow. 

Do you love to learn more about this topic? Listen to the full podcast episode here!