Top Lessons in Low-Risk Entrepreneurship According to a Zapier-commissioned Harris Poll survey, a staggering 92% of adult Americans who had one or more business ideas never followed through with turning their ideas into reality.

Apart from monetary risks, 'wantrepreneurs' are also concerned about intangible risks, such as their reputation in case things go wrong. In reality, nothing is certain in life and business, but the key to business ownership is understanding what 'myths' are preventing you from even getting off the starting blocks, together with the low-risk steps everyone can take to achieve entrepreneurial success.

Myth 1: Starting a business is very risky!
The most common challenge or myth individuals face when starting a business is that it's an extremely risky financial decision. But what if you could start a business without any money or with very little financial risk?

This isn't science fiction. There are a number of ways to start a business without taking major risks, particularly when it comes to creating service-based businesses. In most, a service-based business provides the opportunity for you to transform your own knowledge and skillset into a valuable business offering, all with minimal overheads.

Myth 2: I can't start a business because I already have a secure job!
The bad news is there is no such thing as a secure job. The good news is nothing stops you from launching a business while being employed. When talking to employed wantrepreneurs who are afraid to quit their jobs, I like to ask them: Would you quit if you receive a $1 million order from a reliable client tomorrow? In 99% of the cases, they say they would quit their job immediately. My advice is start looking for clients to place an order that would be attractive enough for you to leave your job.

Myth 3: I need a revolutionary idea to start a business!
Thanks to a number of incubation and acceleration programs, wantrepreneurs are convinced that in order for a new business to be successful, it needs to be incredibly innovative and totally out of the box. For this reason, many give up because they find their business ideas too traditional. However, millions of emerging successful entrepreneurs are in traditional sectors. What truly matters is whether the entrepreneur is solving a problem that clients are willing to pay for. Businesses can thrive even if they aren't particularly innovative. Remember, you don't need to find the next tech unicorn to be successful in business.

Myth 4: Free money and grants are the best starting point to fund a business!
Entrepreneurs that rely solely on grants are particularly common in Europe. I have seen thousands of such 'grantpreneurs' who don't kick start a business unless they receive free money from governmental agencies. And many such agencies enable this behaviour, perhaps to justify their own existence.

This issue creates a myth that grants are the optimal way to start a business. Grants aren't guaranteed, often take years to secure, frequently come with strings attached such as 50% matched funding and aren't a permanent solution, making them unsustainable in the long run. Focusing solely on securing grants has a high opportunity cost and could actually prevent your progression in the long-run.

Myth 5: Great ideas are enough for money to follow!
Such empty phrases encourage entrepreneurs to focus solely on finding investors and not finding potential clients or addressing other critical risks. If every great idea was automatically funded by investors without considering implementation, everyone would spend their days generating ideas and cashing in at the end of the day. It's crucial that all innovation ecosystem stakeholders convey the right messages to aspiring entrepreneurs. Otherwise, we'll continue to see the majority of wantrepreneurs not even attempting to start a business, resulting in a significant waste of talent that could otherwise be harnessed.