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4 Common Lies We Tell Ourselves Before Becoming Entrepreneurs

Updated: Jun 21, 2023

"The Stories that we tell ourselves, can make, or break, our lives no matter who you are” -Oprah

There are plenty of people who have had the thought of entrepreneurship come across their mind—some, more than once. If you were to ask someone, "Hey have you ever thought about going into business for yourself?", you may have received responses such as, “yeah, but I'm just not ready...” or, “no, that’s too much to handle.” When you hear these kinds of responses, know that the lie actually stems from self doubt. Often enough, some of the most successful entrepreneurs almost believed a lie that they told themselves at the beginning of their entrepreneurship journey. In fact, Melinda Gates wrote in her blog post, "I couldn't silence the voices in my head telling me 'not good enough,' but I could amend them a little, to say 'I'm not good enough—yet." "With that one change, that message stopped being devastating and started being motivating." We don't step back and look at ourselves like a competitor would”. Here are four common lies we tell ourselves and four truths that can help denounce those insecurities.

I can't do this because it's already been done - Lie

No one is like you - Truth

There are plenty of businesses that have similar services or products. For example, McDonald's

and Burger King, both sell burgers and fries. However, their quality, pricing, mission, and marketing are different. Also, most people may prefer McDonald's over Burger King or vice versa.

I should already know this -Lie

You are teachable and willing to grow -Truth

There is power in admitting when you don't know. We live in a society where people are always looking for answers. If you don't know, you Google it! There is a high level of respect for people who know—and for those who don't, they typically get faces like these

When we admit that we don't know, we are then in a position to be teachable. Before you psych yourself out of not knowing, grab a book, register for a class or attend a webinar.

No one will buy this, I need to lower my price - Lie

The right people will invest in you because they see your worth -Truth

Offering discounts or lower rates from the very beginning screams -Hey I don't know my worth. As a new entrepreneur, you want to let people know your worth and start off holding a high value for yourself. Starting low in price can make it difficult to increase or ask for more in the future. It best to set your price at what you think is right for you and the right people will invest in you. If you are unsure of what your price point, check out industries similar to yours and see what their prices are and compare. Also, know your workload and how much each product or service costs and the time it takes to produce.

I’m not ready for that yet - Lie

If you’re waiting to be ready, you will never start - Truth

Entrepreneurship is all about taking huge leaps of faith and trusting in God all the way. There are many people who felt they weren't ready for the next step in their career, but that does not necessarily mean they were not prepared. People who wait until they are ready, never really start. In fact, they keep piling up reasons and excuses for why they are not ready.

By knowing these five common lies, hopefully you will recognize the lies that you may have been telling yourself and will counter those lies with truths.

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