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Tall Tales

Don't believe everything you hear about starting a business.

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This story appears in the February 2003 issue of Entrepreneur. Subscribe »

Folklore can be a fun diversion. but there is nothing fun about basing your business on commonly held--yet incorrect--beliefs. Kevin Schehrer, author of Startup! Beyond the Myths to the Reality of Starting a Company debunks start-up myths.

Myth 1: People who survive the brink of business disaster are guides on how to run a business. "Most successful entrepreneurs don't go to that extent," says Schehrer. "And unfortunately, a lot of people end up in serious financial trouble [after] being goaded on [by these stories]." Plan in advance--don't aim for the thrilling story; aim for a steady rise to success.

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