Having a business to identify oneself with is indeed fashionable, owing to the financial freedom that comes along with it and being one’s own boss. However, many haven’t prospered due to some myths that Flavio Maluf demystifies.
Flavio Maluf is a Brazilian mogul who has been at the summit of Eucatex since April 29, 2005 as its president. His prowess in business has seen him craft a merger between his Eucatex Company and Duratex, among other accolades, in arrangementset to enlarge and consolidate Eucatex’s market share.
Uncovering Facts in Business
Flavio Maluf begins by declaring it is misinformed for entrepreneurs to think they’d work less yet earn more than when once under payroll. In fact, an entrepreneur has no working hours as he has to be available throughout.
He also refutes the perception that one needs much capital to start a business. While its availability is unquestionable, there exist innumerable business models that don’t demand hefty capital from starters.Closely linked is the fact that the market already has many investors in need of stellar ideas and their excellent executors.
Another prevalent myth is-it’s only possible to start a business upon assertion that the idea is innovative. Whereas an innovative venture may make one stand out, it’s the ability to earn and retain customers that eventually makes one outstanding in the perfectly competitive market.
Risks in Business
Finally, the worst of all myths is the argument that venturing in business involves risks. The gospel truth is-risks are inevitable. As a matter of fact, a good entrepreneur takes risks; though, with analysis done to minimize risk level.
Nonetheless, it’s true that the waiting time to open a business upon application varies such as 107 days in Brazil compared to 5 days in the U.S. on average. It’s also true that while the large companies enjoy tax benefits, the average company suffers a blow.
In conclusion, the wizard has said it all-while owning a company is such prestigious, it takes boldness to discriminate between myths and truths, and tread the uncharted path to one’s entrepreneurial success.