Who hasn’t fantasized about quitting their job and striking out on their own? Before doing anything, you should check out these excellent six myths about owning a business:

1. Your family & friends will always understand the time commitment, even when no money is coming in.
2. Your friends’ constructive criticism is never out of jealousy
3. Your college degree is all you need to secure the knowledge entrepreneurship requires
4. Your lack of a college degree will ensure your business fails
5. Anyone that has tried and failed automatically must be trusted because “they’ve done it”.
6. If the majority of your peers call the idea silly, it probably is.
7. You have to spend money to make money (this one is borderline, but a lot can be earned by charging people for your knowledge on something)

Personal Finance Advice