5 Common Reasons why you are not starting your own Business

By Julia Mann 23 January, 2020 Customers

Starting your own business has its perks. You can work anywhere and at any time of the day, you have more family time and the best thing about it is that you’re the boss! I know not everyone is ready to be an entrepreneur. Especially if you have gotten used to working behind a desk, have some kind of security and know exactly what is going on every minute of the day, have a regular income and a secure job, starting a business may seem like a big risk and just the thought of it may be a bit scary. 

 

I know you have that itching feeling though, the need for something more. To be your own boss one day. So let’s have a deep dive into this situation and see what you can do.

 

 

 

 

 

 

Here are the most common reasons why you, just like many others,  may not have started your own business yet and what they can do to overcome it.

  • Fear of failure:

A lot of people are afraid to start their business because they fear it will just fail. It’s a common thought for those who have already experienced failure because they have self-doubts, so oftentimes they choose to stay in their comfort zones. Starting a business does have its risk. Sometimes you win and sometimes you lose but don’t give up because success doesn’t happen overnight. It’s always a work in progress and a positive attitude is all it takes for you to overcome the fear of failure

 

  • You don’t have enough resources:

Having no money and no means of getting it could be one of the things that hinder you from starting your business. I know how tough it is when you don’t know where you can get the capital to start. You don’t need a lot and sometimes you can start a business with very little capital. Try online selling for example. With a high percentage of customers today who prefer online shopping, you can never go wrong with starting a business online plus you don’t need to rent a property as a physical store, having (a) wifi, computer or just your phone is oftentimes enough. (Related: The Advantages and Disadvantages of an Online Business)

 

  • You have no idea what business to start:

Let’s assume you have all the resources. Now you might ask yourself this, “what business do I start?” A lot of people go through this dilemma of not knowing what they can do because there are so many businesses to choose from and knowing what will actually work for you and you may enjoy as well, is another question.

 

Start by doing a little research: 

-What are the products or services that are in demand today? 

-Learn what people not only want but also what they need so you can have an idea of what business to start. It doesn’t need to be big, start small and grow it from there.

 

  • You may lack the ability to sell:

When you’re running a business, a lot of selling and negotiation takes place. I know a lot of people lack that ability and its not one of their strong points. That’s why they’re hesitant in starting a business. You see, these things can be learned, like anything else in life. You don’t need to be the greatest salesperson, what you need is to have enough confidence and believe in what you (can) do. We aren’t all born natural salespeople but we can transform ourselves into one if we want to and practice.

 

  • You have no experience in running a business:

If you have worked for someone else all your life and none in your family or friends are in the business industry, you’d likely feel like you don’t have what it takes to run a business either. The lack of exposure to entrepreneurship and not knowing what it takes is one of the reasons why some people are hesitant to start a business. But as I mentioned above these things can be learned. You can take an online business course, attend business workshops and seminars. It will help you boost your desire to start a business and stop the feeling of overwhelm.

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