Debunking The Top 5 Most Common Entrepreneurship Myths

Innovation and entrepreneurship are often linked together as we are in a world where the ideas that we have help drive economies. No wonder that government from all over the world are starting to conceptualize the importance of innovation and entrepreneurship when it comes to attaining the much needed progress and improvement of a country’s economy. People are encouraged to think out of the box and realize the fact that the once practical ways of doing business, won’t work out especially in this modern era. 

Many people are hesitant to start their own business because of these 5 common entrepreneurship myths. We are going to debunk them today.

Myth 1: The Works of Entrepreneurship is Easy

Seeing a number of successfulentrepreneurs these days will give you an impression that entrepreneurship is indeed easy. Not known to many, these successful entrepreneurs have gone through numerous hardships in both life and business. For instance, a successful restaurant does not mean that they have achieved this kind of success only through the help of skillful chefs and tasty food. Though, they are considered important factors, there are still other qualities that needs to be considered to achieve success in the restaurant business.

Aside from the skillful chefs and tasty food, a restaurant should also have a cool environment in a busy location. You should also have a good marketing team, systematization and human resource. Entrepreneurship is indeed easy on the surface yet very complicated in the inside.

Myth 2: The Works of Entrepreneurship is Difficult

Yes, you read it right. Entrepreneurship is not easy as it looks yet not difficult if you have the right knowledge to start with.

Entrepreneurship is similar to creating a building. It takes both time and effort to be able to create a sturdy building. Investing some time to learn and understand the business and putting what you’ve learn in action will surely lead to success. Entrepreneurship is not difficult as long as you have a blueprint to keep an eye on. If you have this blueprint, you will have a set of action steps to follow and things will get easier on the long run.

Myth 3: High Failure Rate

Statistics show that 95% of new businesses fail in their first 5 years and the remaining 95% out of it will fall down in another 5 years. Sounds really scary, right? However, statistics are only numbers. Success is never determined by that.

In life, the number of individuals failing, be it in business or a college sports or game, always overlap success. Hence, as an entrepreneur, you need to grab that 1% of success and walk through its path than become the 99% failure. Get yourself up and learn from all those successful people who was able to get hold of that 1% success rate through hard work, dedication and knowledge.

Myth 4: Entrepreneurship is Risky

Risk is everywhere. You are taking that risk in everything you do, every single day. However, eliminating risk is impossible yet minimizing it are often more satisfying.

Knowledge is the key to it. An adult has lower risk of chocking from a fish ball than a small baby who was just starting to walk. That is all because adults already know how to chew and swallow without getting choked. The best way to attain success and possible reduce risks is through following the steps of successful people. Through their success stories, you can have a glimpse of your own success in no time.

Myth 5: Starting a Business Requires A Lot Of Money

Just thinking of the cost for the rent and renovation of your store is already too scary, not mentioning the cost of supplies and products that you need to have to start your business. You also need to hire employees and their salary is pretty costly. For short, you need a huge amount of money to be able to go on the first step of business.

However, money is never an issue these days. You can cut short your spending for rent, renovations and employees by becoming an online entrepreneur. You can sell products online, in the comfort of your own home. Marketing your business online also offers huge savings because we already have different social media platforms to start with.

Drop-shipping: Why It’s More Preferred By Retailers

Drop shipping is a process wherein retailers do not need to stock items since the shipment of each items bought by their customers directly comes from China suppliers. The goods are directly shipped to the customer, resulting to less hassle to the retailer especially when it comes to filling orders and doing shipments. The retailers save so much time and effort with drop shipping method.

Roles of Drop shippers

If you can find one real and reliable drop ship China suppliers, then you’re business will ultimately be successful. China suppliers are known all over the world because of their dedication when it comes to work and ethics. Since they have the biggest role throughout this type of method, China suppliers should see beforehand, the pros and cons of being a drop shipper. And that includes shouldering all the hassle of shipping orders especially during instances of customer relocation and such.

Reasons To Choose Drop Shipping

The increasing demand of wholesale products in China serves as the main reason behind popularity of drop shipping. From the smallest pins to the largest machines, everything is manufactured in China, resulting to the boom in their economy internationally. Many companies all over the world are satisfied with their products and they get to order large volume of items from China only to get it stocked in their place.

Drop shipping is also beneficial especially to online entrepreneurs. This type of business do not have a physical store so their products go to their houses for future deliveries. With drop shipping, retailers do not need to take the hassle of covering the deliveries because dropping shipping companies will shoulder it all. This has given Chinese suppliers wholesale an edge amongst the rest of the world.

Best China drop ship suppliers

Now that you’ve known the great advantages of drop shipping to your business, it is time to look for a reputable company that caters drop shipping services.

China trade fair is one great way to start your search. It can gather a huge number of China suppliers, all in one place. China Homelife caters annual trade shows in countries like India, Dubai, Mexico, Poland, Egypt, Jordan, Turkey, Kazakhstan, Brazil and South Africa. If you are planning to start a business and considering the drop shipping method, you can come and visit China trade fair by China Homelife. You can personally ask a company representative and even compare prices as there are variety of options to choose from.

In today’s generation, drop shipping is a great way to start your business especially if you do not have enough funds to burn. Small time entrepreneurs are encouraged to try this method as it is so effective, with less time consumed and hassle-free. Its advantages are even boosted once you find a reputable and reliable Chinese suppliers wholesale. You can also ask for referrals from business owners who use this method. They may not instantly share with you their suppliers, but it’s worth a try. Who knows, you are lucky enough to know their secret to success.

Finding Reputable Chinese Suppliers Are Made Easy Using These Strategies

Chinese suppliers are prevalent these days especially because of the low production cost in China. Finding Chinese suppliers are easier than expected. You can simply type in the search engine the product name or the item that you want to find. The search engine will give you a long list of China suppliers that you can easily get in touch with. However, if you are concerned of their reliability, you may want to verify their legitimacy all at once or suffer the consequences of the doubt. You need to strategize to be able to do that. You need to be knowledgeable enough and know these simple tips to start with.

Know your requirements – Before finding Chinese suppliers, you first need to understand your needs so you can set a number of requirements. You first need to conduct a thorough research on the product’s category for you to initiate a category system. You can conduct a research through the internet and list your report in a data table.

Identify your suppliers – Since you’ve already understood and sorted the type of supplier that you want, you now need to find top China suppliers for you. You can search through the internet, as it is the easiest way of finding Chinese suppliers. Gone were the days when you have to dive in a bundle of magazines just to be able to find top China suppliers. Other alternatives when finding China suppliers are business directories, supplier websites, trade magazines, trade shows and referrals. However, trade show provides more positive outcomes since attendees of these events are particularly interested in import and exporting business. Seeking help from successful China suppliers also offers valuable advices that could help you grow into a better business entrepreneur. Reading business magazines, either offline or online, is also a great way to find the ideal supplier for your business.

Select the right supplier – The next thing to do to be able to succeed in finding Chinese suppliers that’s reliable and capable of producing high quality products, is selecting the right China suppliers for your business venture. Use the things you got from your intensive search to ensure that you’ve got the best supplier. Develop a relationship with your suppliers and decide what you want for your business. Explain the proceedings of your business and discuss each important information to your supplier so you can get satisfying results later on. If possible, you should also ask for product samples before you wire payments. Remember that in a business, every penny counts. You cannot afford to lose it just because you forgot to take sample products.

Communication is the best to have a smooth partnership, which could later lead to producing high quality products made from top-notch materials. Never hesitate to ask questions. Your China suppliers are obliged to answer all your questions. Interaction should also be done more frequently so you can talk things that can contribute to the betterment of your products. Things like transaction, product description, expected date of completion should be properly discussed and examined.

Supplier Verification – A Sure Way To Detect Fraud Chinese Wholesale Suppliers

China is tagged as the land of opportunity. Sad to say, just like any other countries around the world, China is home to dangers and frauds. Once and for all, you might encounter a person which has no legal rights to do business, some middle man instead of the real end of the supplier, or companies who claim to produce products even if they can’t.

These instances can be so tough and will make you think twice upon having business with a Chinese supplier. Somehow, there’s really not much to be worried because Chinese supplier Verification is widely available.

Good thing there are companies situated in China willing to help you verify the Chinese wholesale suppliers for your company. The process will thoroughly evaluate your prospective supplier or newly-acquired supplier to avoid risks of getting victimized by scammers and frauds. These companies charge a small amount of money but surely, you will save so much on them.
Imagine the hassle and money you will save if you have avoided these kind of frauds. For you to be sure of your Chinese supplier, hire a supplier verification and experience its benefits all at once.
Benefits of Supplier Verification

• Proper Inspection of Legal Documents

Through supplier verification, legal documents are properly inspected so as to avoid fraud activities. This process ensures that the Chinese supplier obtains the legal right to do business with you, either import or export. Legal documents certifies the authenticity of the supplier and business owners should be keen in asking for this as the major requirement before the actual business starts.

• Confirmation of Business Type

Some fraud Chinese wholesale supplier will try to lure you into believing that business type is real and genuine. Through this verification, you can get rid of middle men who might extort more money from you. Instead, you will do business directly from the source of product, allowing more savings and securing that products will be done on-time.

• Legal Signatories are Properly Identified

Most Chinese companies authorized one person to sign contract and secure commitments. Once you hire the services of a supplier verification, they will try to identify the legitimacy of each signature. By that, you can be sure that all the deals that you have on the Chinese supplier are purely legit.

• Verified product’s quality control and product type – You ordered 1,000 pieces of High Definition TV, yet they delivered 500 pieces of broken washing machines. That scenario might be too harsh but could happen in real life. Some Chinese suppliers could mistakenly send you other type of product because of the large volume of orders they prepare every day. You can avoid this through supplier verification. In case you’re under a fraud transaction, the verification will stop any further damage so you won’t have to waste your precious time and money.

There are so many ways to find Chinese suppliers. What’s hard is finding a reliable and reputable Chinese supplier who can help you achieve the greatness in your business venture. But then, you can always go for a supplier verification for utmost success.