If ever there was a better time to have an innovative business idea, now would be it. Entrepreneurs nowadays have access to a wealth of knowledge, a variety of support sources and reduced startup costs.
No Money: Holding sufficient money to commence a business is claimed by a lot of entrepreneur hopefuls to spoiling their dreams. The reality of a triumphant business is to bootstrap it in the beginning and complete the most vital mission of any startup… finding a customer. Stop thinking about the fancy office, the cool CEO chair, or glossy four color brochures. It does not take big dollars to begin a humble business. Over 48% of the Inc. 500 commenced their business with less than $20,000.
No Time: Working a full-time job, raising a family, and enjoying a weekend out is the common time-filled life when you work in cubeville. Time is a resource we can manage. If you’re going to be a triumphant business owner, controlling time is the key. Startups involve sacrifices. You have to be prepared to give up the weekends to establish momentum.
No Benefits: Let’s face it, stepping out of the corporate world without benefits can feel like walking a trapeze without a safety net. It can be more comfortable for a younger, healthy worker to forgo the health benefits offered by a company. For the Baby Boomer startup entrepreneur, health benefits remain a top concern.
No Family Support: It’s hard enough to give up the luxury of the corporate world to begin a business. Lacking the support of your family and friends the journey can be challenging. In the direction to win the support of your family acquire the time to clarify the business and build a solid business plan. If others can see how you have taken the time to think it through and reduce the risks, they will be more supportive.
No Courage: Dig deep enough and you will often find the basis for not commencing a business are excuses. The largest barrier to defeat is yourself. Fear is present in all entrepreneurs. It’s a matter of learning to recognize fear as a silent companion you can beat every day.