The New Year is here and with it a time to reflect on career goals. Aspiring entrepreneurs who are considering starting a construction small business in 2019 may find encouragement in new survey results from Kabbage. After polling 600 U.S. small business owners, the survey found the majority of successful entrepreneurs got started with little cash and short run rates. The survey also demystifies the cash flow obstacles many aspiring entrepreneurs may perceive as reasons to not start a business, when in fact they’re all too common.

These are three myths aspiring entrepreneurs should be aware of when starting and building their companies.

Myth #1: You Need a Lot of Money to Start.

One of the biggest perceived barriers to starting a company is the amount of capital required. In reality, many successful entrepreneurs get started with surprisingly small amounts of money. According to new data, 39 percent of construction and landscaping business owners said they started their companies with less than $5,000. Even more surprising, almost all (94 percent) started their company with less than $50,000.

While the amount of capital required to get started may be lower than expected, managing cash flow is critical to growing a company. To encourage more consistent, timely payments, contractors should consider billing customers after each small step in a project rather than in three or four large installments. For example, provide an invoice after demolition, sheet rocking, window insulation, plumbing, electrical work and so on. This will help contractors receive a steady income. Customers will likely prefer this method of payment too because it allows them to split up their bills into smaller, more manageable sums.

Once a business is established, it’s important to consider financing options to fund future growth. It can be challenging for business owners lacking long credit histories to get access to funding, and small businesses are oftentimes overlooked by banks favoring bigger companies seeking larger loans.

Many small business owners have begun using online lending platforms that look at their live data to approve funding instead of old bank statements and dated tax returns. These innovations allow for faster and more flexible access to working capital by evaluating a company’s current and ongoing business performance.

For example, when a construction business owner in Florida needed to hire additional employees and buy new equipment, she applied for a small business loan through her bank but only received a portion of what she asked for. Through online lending, she was approved for a flexible line of credit that matched her business needs and the company’s revenue doubled in one year.

Myth #2: Start a Business In The Industry You Know Best.

Forty-one percent of survey respondents started a business in an industry that was new to them. Despite this, 82 percent of respondents did not doubt they had the qualifications and experience to successfully run a company.

While confidence is key, no business owner should go it alone. Construction entrepreneurs should find a mentor or advisor in their industry who can help them avoid mistakes, keep an eye on long-term goals, anticipate upcoming expenses and give objective advice about cash flow issues. For those searching for a mentor, try connecting with industry contacts on LinkedIn, join a trade association or look at resources such as SCORE for opportunities.

Myth #3: Being a Business Owner Means Doing It All.

Business success is contingent on staying focused on what brings in money. According to the survey, the areas of business in which entrepreneurs had the least amount of experience when they started their company was financing/bookkeeping, legal/compliance and marketing/advertising. Outsourcing some of these necessities can save time and money. To hire good, quality contractors, business owners should get referrals from their peers and employ best practices to retain talent, especially in the current climate of the construction job market.

Construction small businesses can also benefit from using technology to automate different aspects of business operations. Different technology platforms can manage tasks such as scheduling, inventory management, digital marketing and customer service. Having the right tools in place can improve operational processes, reduce paperwork, increase efficiency and improve worker productivity.