The 10 biggest startup myths every self-made fan should know – a founder clears them up

Startups – the word alone conjures up images of multimillion-dollar pitches, ambitious founders, and the never-ending hunt for the next unicorn. But the reality is often quite different.

As someone who has experienced the reality of the startup world for more than a decade, both as a founder and investor, I think it's time to debunk the ten biggest startup myths.

Here are ten of the biggest misconceptions about startups that I hear over and over again – and why they're not true.

The garage cliché is a perennial favorite. Sure, the stories of Apple, Google, and Amazon paint a striking picture of garages as startup incubators.

But honestly, these companies were founded in garages because American homes rarely have basements and space could be created quickly in the garages.

Most startups today begin at university, in government-funded coworking spaces, and sometimes even in children's bedrooms. There's space everywhere.

The Federal Association of German Innovation, Technology, and Start-up Centers represents 154 innovation centers throughout Germany, including one near you. A garage isn't necessary—but a good idea and initial customer feedback are.

Technically speaking, anyone can start a business, of course. But that doesn't mean everyone is destined to successfully build a startup.

Founders need perseverance, persuasiveness, a clear vision and the willingness to take risks – and to get back up when things don’t work out.

If you want to start a business, honestly ask yourself whether you have these qualities. And a little technical expertise can't hurt either.

Many people believe their startup has to be "the next big thing." In reality, success comes less from the idea than from the execution.

Airbnb wasn't the first idea for vacation rentals; the founders were simply better and more persistent than others – and perhaps their story was simply more exciting and their vision clearer.

Conversely, that doesn't mean you can simply copy a good idea. If you can't add your own element to the good idea, every customer and every investor will go for the original. Whether it's a photo app or an energy drink.

The classic: You start a company, quickly sell it for millions, and spend the rest of your life on a tropical island. The reality? 70 to 90 percent of all startups fail, often within the first three years.

In this case, exiting just means you're the last one to turn off the lights. At least: If you feel that way, you'll be richer for the experience. Founders often earn less for years than they would in a regular job, especially if they bootstrap.

Financial success takes time, if it comes at all. And the path to it is difficult and extremely labor-intensive. If you value finishing work on time and regular deposits, it's best to leave it alone.

This myth is almost more persistent than the garage myth. The chic loft office aesthetic that film and television try to sell you is deceptive.

Startups often mean long nights and a lot of uncertainty. Yes, a foosball table in the office is still pretty cool. Years of tight cash flow are not.

It can be cool—but it's rarely glamorous. I mean, how glamorous is it to consider whether you'd rather fill up your car with gas or eat a decent meal?

Good ideas often get attention, but investors are primarily looking for people who can prove they can execute their idea. Without traction, a strong founding team, or a clear business plan, there's no "Shark Tank moment."

Basically, it's like in sports: discipline is more important than talent. In this case, talent stands for a good idea, and discipline stands for the ability to follow through.

In Germany, failure still has a negative reputation. But in the startup world, it's often a given – see myth number four. It's a lesson from which founders can learn and start again with new experience.

Sometimes failure just means you have to adapt your idea to a changing market. Do you know Odeo? Founded in 2005, Odeo was a podcasting platform. But shortly after its launch, Apple integrated podcasting features into iTunes. Nobody needed Odeo anymore. A pivot was needed. A side project within the company had potential: a platform for short messages. In 2006, Twitter was officially born.

A four-, five-, or even seven-figure sum in your bank account doesn't automatically launch a company. Many startups fail despite funding because they use their resources inefficiently, misunderstand the market, or implement too slowly.

Or because the bank account is full, so it's time to play soccer and lease a bigger company car. But now's the time to get down to business.

Seed financing typically serves to cover a company's initial development phases. It is often sufficient to cover operating costs for between six and 18 months. During this time, the foundation must be laid for the next round of financing. And that is much more difficult to obtain – especially in Germany.

Uncontrolled growth is dangerous. While it may sound impressive to double your user base or team within two months, if your business model isn't sustainable, it quickly becomes clear: growth without substance is a dead end.

As a company founder, you're your own boss. Wrong. As soon as a startup brings external investors on board, some of the freedom to make decisions is lost – especially with larger investors.

Finding a balance between the needs of founders and investors is often more complicated than many people think. And another thing: You may quickly find yourself responsible for many employees who are not part of the "self-directed" founding team.

Even though you're the boss, it can quickly feel like you're being controlled remotely and externally. Instead of enjoying total freedom, you must be prepared to take on responsibility,

Yes, startups can be exciting. But they're also hard work, full of challenges, and far from the myths often told about them.

Anyone who wants to start a startup should be guided less by clichés and more by numbers, facts, and an honest look at themselves. Because only a realistic view of things enables success.