Every day sees the birth of another opportunity — and if you are business minded, you know that each new chance is a shot that is worth it. And it is yours for the taking. But the problem is there are so many of us who do not dare to take that first step because we get caught up in things that we think are part and parcel of starting, running, and maintaining a business.
As a result, we lose out. And we do not have to.
In this article, we will take you through the things that stop you from working on your business aspirations and how to stop them.
The unknown
One of the most pressing fears and worries that impede us from achieving what we may very well achieve surrounds the unknown. Will our ideas work? Will we find a ready market for what we hope to offer? Will we be able to provide quality solutions at all times? Will we even stand a chance against the established competitors in the industry? Will it be worth it, in the end?
These and more are all valid questions. If you feel like you need to take some time and mull over them, you should be able to do so. But the difference between allowing ourselves to think about such fears and letting them take control is the extent of our engagement with them. For instance, if you are worried that you will not generate enough profits to keep your business floating, you can acknowledge that fear while already thinking of solutions that you can enact, in case that fear does turn into reality.
Similarly, it is important that we take the time and effort to understand what the fear is truly all about – and address that. There are instances where we think we’re afraid of, say, not selling enough but, really, what we are really concerned about is whether our products or services will be up to par, against the competition. In such a case, we can channel the fear into something that is positive: motivation.
Finally, the unknown will always remain as the unknown… until we walk towards it, get to know it, and shape it according to the fulfillment of our goals.
Possible failure
Another contention that entrepreneurs have to deal with is the fear of potential failure. It is natural to think that things may not work out, but it is not necessary to believe it. Here are three of the most important tips on how to work through your fear of failure and come out decisive on the other side:
- Focus on your goal. Draw up your business plans, write them down, and focus on them every time you think you do not stand a chance. It is easier to stop fretting over whether you will trip if your eyes are staring straight ahead and at the bigger vision.
- Give yourself a pep talk every time you need it. Positive thinking may not be the be-all and end-all of solutions, but it does help a lot towards mapping out a better course when you are feeling stuck in an unpleasant place. You deserve to hear good things, and you deserve to hope for the best. Give yourself that gift.
- Prepare well. The best response to fear is action. Do your research properly, sit down to the task at hand, and work hard.
Other possible problems
In addition, budding entrepreneurs may get dissuaded from getting their feet wet and wading deeper into business because they fear that they are not good enough, gonna get overwhelmed, or otherwise prove to be a bad fit for the industry. Some would-be entrepreneurs also worry that they will run out of money before they can truly get their business ideas off the ground.
As with the other two fears, getting acquainted with potential business issues that you may experience is not necessarily a bad thing; it is even wise to think ahead and try to steel yourself for what is about to come. But making decisions about things that have not yet happened and using them as justification for why you should not be able to proceed is hardly fair to you.
What you can do, instead, is remind yourself of why your business ideas are worth it. Look forward to potential returns, and chart a comprehensive plan that is designed to mitigate risk factors, while ensuring successful milestones.
Other motivational facts
According to the US Small Business Administration, small businesses in the country have been steadily providing employment opportunities to those who need them. In fact, since the 1990s, while big businesses have been creating job gaps, small entrepreneurs have filled around 8 million jobs.
Around 54 percent of sales in the country also come from small businesses, so you do not need to worry about not finding an available audience for the kind of products and services that you wish to offer. In addition, the number of startups has grown over the years, which means that there is a lot of room for entrepreneurs who are just starting out – and corporations do not control all of the essential aspects that can lead to success.
Final thoughts
Deciding to launch a business is not an easy task, but what draws people to the world of enterprise is not convenience and ease. Your business ideas deserve to see the light of day, and you are good enough to give it a try and see how it pans out. The first few months will not be smooth sailing, sure, but if you prepare well, you will always be able to weather them.
It is also not a shameful thing to ask for help. Get your friends and family to pitch in support whenever it is necessary and where it can be provided, be it emotional, moral, or financial. And educate yourself about the world that you are about to enter. Stay on top of forecasted trends, study your market properly, and get your business offerings up to par.
