Myths exist all over the world. From the Bigfoot that supposedly wanders through the great forests of America, to the Yeti hiding in the Himalayas or the monster lurking at the bottom of Loch Ness.
You’ve probably heard of all these wondrous myths at some point or another. But have you heard about the weird swirling myths of the business world? Well, you’re about to, and you would be foolish to believe that any of these are true when you run a company.
Employees Are A Problem Of The Past
Where does this idea come from? Well, mainly from people like Elon Musk who claim that new technology will cause the need for a universal living wage in just a few years. Not just in America, Australia or the UK but globally and experts like him claim this is going to be due to the rise of robotics and of course, automation.
It’s true, increases and evolutions in technology are cutting jobs out of certain industries. While some careers like teaching are more safe than others, such as marketing, it’s expected that every industry will be impacted by this change at some point or another.
However, what people don’t tell you is that this change is nothing new. Job loss from new tech has been an issue for decades ever since the industrial revolution.
The only difference is that now it’s impacting skilled jobs and the white collar workers. Still, you’d be crazing to think it will leave to completely empty offices. People will just fill new roles working with the tech rather than being completely replaced by it. This means sadly issues that exist in the workplace due to employees now will continue to thrive ten or twenty years from now.
Anyone Can Run A Business
Honestly, if you perform a quick search online, you’ll find various articles telling you anyone can set up a business. And while this is technically true, it’s not quite the whole story.
You can set up a business with no knowledge, no training, and no qualifications, but will that business be a success? The answer is likely no because you just won’t have tools or strategies you need to handle the challenges you will undoubtedly face.
While you don’t need to head to college for four or five years, an online MBA would certainly serve you will and boost your chances of success when you run your company.
There’s Only One Right Answer
Lastly, while you might come across various experts who tell you there’s only one right answer to run or manage a business, they are quite wrong. Just look at the many, many theories of how to motivate employees in the workplace from Herzberg’s Motivators to Vroom’s expectancy theory.
It’s not a one size fits all system for business owners. You need to find the right management strategy that fits you and your business needs or the specific model that you are working with.
We hope this helps dispel some of the common myths you might have believed in the business management world.