Some of us are simply born with the entrepreneurial mindset. There is nothing more appealing than having the ability to go out into the world, make our mark, and support ourselves while we’re doing it. It takes a certain kind of person to withstand all the pressures of self-employment, but the rewards are virtually unlimited. Unfortunately, most people are a force to give up before they start. Some of the hardest parts of business ownership need to be addressed before you even begin.
Here are the 4 things that are stopping you from starting your business, and what you can do about them:
An Idea.
While this may seem basic, many people want to work for themselves but have no idea where to start. It’s easy to write off your ideas. Many of them may be good, but the threats of failure make it easy to write off. Here’s the trick, you don’t always have to do something new. There are lots of good business ideas that aren’t the next billion-dollar corporation. All you need to do is solve a problem in your life. Then, package this solution to help other people. It’s often the simple, reproducible solutions that are the most profitable.
Money.
Staff, and office, sales people, material, the list just seems to go on. No matter what you start, there is always an issue of finding a way to pay for it. Fortunately, this is one of the easiest issues to solve. Some banks will issue quick cash loans with nothing more than a sound plant. This is probably the first place to start. Alternately, look for ways that you can offer your product at a discount, in exchange for your customers financing your operation. Crowdfunding is the best example. Without money, these ideas wouldn’t exist. If a market exists, you’ll be able to finance it yourself.
Customers.
You’ve got the idea, and you’ve got the money to build the product. Now, how do you find people to buy the product? All you have to do is ask yourself where you would go. There are lots of opportunities for guerrilla marketing, or taking advantage of nontraditional channels to find clients. Join discussion groups. Give samples to market influencers. If you’re truly passionate about your product, you’ll have no problem finding ways to get it in front of the eyes of people who could use it.
Respect.
This might seem a little narcissistic, but respect is very important in the business world. When you’re trying to leverage relationships, you’ll be taken advantage of if your potential partners don’t see the value in both yourself and your idea. Fortunately, you only need two things to earn respect. You need a sound business plan and self-respect. It’s common to be aware of the challenges you face, and you might even have doubts. But as long as you can say confidently that you’re the best person for the job, then others will be able to see that.
These ideas might all seem pretty simple, but these are the four most common reasons potential entrepreneurs give up on their dreams. If you can handle these four challenges, you’re surely ready for whatever else the capitalist market throws at you.
