Ron Garret covered top ten geek business myths very nicely.

Quick extract of my favorite myths, but do yourself a favor to visit the original post:
- brilliant ideas will make you rich

- people will come on their own if you build good product or service

- someone will steal your idea if you don’t protect it

- it’s what YOU think, not what customers thinks, that matters

- what you know matters more than who you know

- you need lot of money to get started

- the idea is the most important part of your business plan

- no competition is good thing

and, IPO will make you finally happy :)

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