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5 Startup Myths

Have these 5 myths been holding you back from starting a business? Time for a reality check.

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This story appears in the March 2006 issue of Start Up.

When Wendy Kaufman started her four years ago, she got a lot of input from people she knew-some useful, some not. The worst detractors cited about small-business . "They tell you 90 percent of fail within five years," says Kaufman, the 43-year-old president of Balancing Life's Issues Inc., an executive training company in Ossining, New York. "It's like the cancer stats."

Kaufman tried to tune out the naysayers. "You end up being very careful about whom you talk to, because if all that negativity hits you on the wrong day, it can be very potent," she says. "You have to be the kind of person who says, 'I'm not going to listen to it.'"

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