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James Millar
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The problem with myths 1 and 2 is that they are arbitrary – that’s why they are myths and cant be measured. Success (myth 1) and failure (myth 2) mean different things to different people. Most startups on the FS forum place a heavy emphasis on freedom and perhaps less emphasis on pure financial goals. My guess is that many are happy working more hours for their own business rather than less hours for an employer – even if the financial outcome is the same. Of course on an economic basis that makes no sense but money isn’t everything to everyone.

As for myth 3. In business perception is half the battle in selling in a competitive environment (rightly or wrongly) so I would encourage it 100%. Call it misleading but the fact is that consumers judge a book by it’s cover so the smoke and mirrors can give you an edge. Your assertion is probably on the money though – looks can be deceiving and a business shouldn’t measure itself against the apparent success of others but rather success with it’s own goals.

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