Stop Looking For Reasons Not To Start Your Own Business

Last Updated: 

May 14, 2024

Starting your own business and taking it through the stages from a small acorn to a great oak is one of the most fulfilling things a person can do. There is no doubt that such an effort takes discipline, smarts and no shortage of hard work, but more than that, it takes some optimism. Making a success of your startup business depends on so many factors that it can easily become something of an Everest in your mind. You need to balance your optimism with a dose of realism, and that can be a tough ask.

You see, realism is often mistaken for pessimism, and for good reason. Pessimists spend a lot of time thinking about the worst-case scenario, and realists, too know that it’s essential to be ready for the worst possible outcome. They can easily talk themselves out of something because there will always be reasons not to do a thing. If you want to make a success of your business, you need to be honest with yourself: no matter how many reasons there are not to do something, the people who make it work are the ones who find a reason that they should.

Key Takeaways: Overcoming Barriers to Starting a Business

  1. Confront Fear of Failure: Acknowledge the fear of failure but don't let it prevent you from starting. Remember, uncertainty can lead to diligence and innovation.
  2. Dismiss Perfect Timing Myths: Don't wait for the "perfect time" to start a business, as it rarely exists. Start with what you have and build momentum.
  3. Manage Financial Risks: Be realistic about the costs but also plan carefully to manage financial risks effectively, setting aside a contingency fund.
  4. Balance Job Security with Entrepreneurship: Start your business part-time alongside your job to mitigate risks until you're ready to transition fully.
Discover Real-World Success Stories

Reason: “I don’t know if I can do this”

The principal reason that people don’t take the plunge in business is a very simple one: fear of failure. It’s also perhaps the most understandable, given that success can never be guaranteed. Anyone at the helm of a successful business today will, if they are honest, tell you the same thing - when you launch your first business, there will always be a period of uncertainty.

That uncertainty is no bad thing, because with certainty comes complacency. Ask yourself what you are uncertain about, and why. Chances are, you’ll be having doubts about aspects of your business - and it is by working on those aspects that you make a business that is ready for any setback. If you would rather ease into starting your own business, you can always look at franchise opportunities instead. This can get you on that ladder and you can be part of something established, which can ease your worries. For instance, you may want to check out the Premier Pools Franchise opportunities to see if they speak to you, or you can look online at a variety of others that might pique your interest.

Reason: “Now is not the time”

It is easy to persuade yourself that there is a perfect moment to launch a business. For many prospective entrepreneurs, that moment usually amounts to “any time but now”. Maybe their business is more suited to a summer market, so they can’t launch in November; or they’ve looked at the economy and there’s a risk of a recession on the horizon, so let’s ride that out first. The problem with this mentality is that you can spend so long waiting for a perfect moment that never comes, you end up missing the best moment you’ll have.

Starting a business requires two things above all: confidence and momentum. If you’ve got the idea, and the know-how to put it into action, then the iron is hot. Don’t wait for a better moment, because you don’t know what will happen before it comes. As points out, Apple started during a recession. So did Burger King. They’re both doing pretty well these days.

Reason: “It’s too expensive”

The financial risk to starting a business is a realistic concern for potential entrepreneurs. Nobody wants to end up with their dreams shattered and a bunch of unpaid bills to take care of, but that’s the reality for some people - and their cautionary tales are responsible for persuading others not to chase their dreams. The truth is that there is a certain amount of financial risk to starting a business. The best thing that you can do is ensure that you manage that risk.

If you can ensure that you have a contingency fund set by, the risk of failure will be less of a weight around your neck. If your business allows you to grow steadily, as the likes of explain, you have more control of your future. If you keep an eye on the costs of your enterprise, it doesn’t need to be expensive to do business.

Reason: “I don’t want to lose my salary”

Trading in a steady job and a monthly pay packet for the uncertainty of the business world is certainly a daunting consideration. It’s certainly easier to let someone else take the decisions and bank the money at the end of the month, but if this is your concern, let’s come right back around to the initial point - with all of these reasons not to start a business, you must have at least one great reason to do it. It’s worth the risk, but you don’t need to assume 100% of the risk right away.

To make your business happen, you may need to use some evenings and weekends to begin with. As it gets closer to becoming a reality, look at taking annual leave to work on it more. If your boss may be sympathetic, ask them about taking a more flexible schedule. Above all, you don’t need to take the jump until you’re ready. When you are ready, however, make that leap!

Don’t spend your time talking yourself out of going into business. There will always be problems, but the best business people are the ones who look for solutions.

[Image by rawpixel from Pixabay]

People Also Like to Read...