Are Your Excuses to Not Start a Business Good Excuses?
There are a lot of people out there that would like to start a business. Business owners have the ability to pursue their passions and earn money at the same time. Business owners have more control over their schedules, at least theoretically. A business owner gets to call the shots. They get to make the decisions. People that own their own business can get a lot of satisfaction from starting, owning and operating their own business. Although a lot of people want to start a business, a lot of people have a lot of excuses about why the can’t start a business. Are you one of those people? Are your excuses good excuses to not start a business?
Below, I will address some of the most common reasons people have to not start a business. Some times, the reasons are valid. Other times, they are just excuses to avoid the risk of failing.
Don’t Have Enough Time
We will never haven enough time. If you are serious about wanting your own business, you will find a way to make time. Granted, if you are lacking both time and money, you will need to start out small. As you grow, you can invest more time into your business. As you become more profitable, you will also start hiring other people to assist you – whether you hire someone to perform a certain tasks, to serve as a consultant or if you start taking on employees.
Not Sure What Type of Business I Want
Well, this can be a problem. Yet, it is the first step towards starting a business. When deciding what type of business you want you will need to determine:
1. How much income you NEED to generate? How much income do you WANT to eventually generate. The profit margin varies widely between different types of businesses.
-Businesses that provide accounting services will most likely make more money than a mobile car wash business. – —Profit also depends on the demand for the product. More people buy cell phones than horse carriage seat cushions. -The potential income also varies depending on how many people /customers can be served by the business.
For example, a dog walker or groomer will be limited to that person’s geographic area. Whereas, someone T that sells books about dog care could potentially have buyers All over United States or even the world.
Some people enjoy starting and operating a business because they enjoy business ownership itself and obtain a lot of satisfaction helping meet the needs of desires of other people.
Other people choose to create a business opportunity that involves something they are passionate about. It is actually simple to think about what you are most passionate about. What things do you spend most of your time thinking about or doing each day? If you are employed, how do you spend your days off work?
Do Not Know How to Run A Business
No one can be an expert about everything. Smart, successful people strive to continually learn. Although I am all about the importance of reading and attending classes and seminars, hand on learning is extremely important. When you learn while you are doing, you tend to remember the lessons better. Plus, some people like to learn the “hard way.”
Granted, you do not want to be re-inventing the wheel constantly. However, at some point, you simply just have to do it. You have to get started. At the same time, you will need to plan on investing some time each day to learn more about your business and running a business itself Yet, this aspect of needing to continually learn and improve is part of what I enjoy about starting and running a business. It keeps life interesting and challenging.
I Don’t Have Enough Money
This is probably the most legitimate excuse to not start a business on this list. However, the lack of funds maybe similar to not having enough money to purchase the house of your dreams. At some point, you have to save money to move out of your parents house. Then you have to save money if you want to transition from having roommates to having your own place. The next step would be to save money for a down payment so that you can stop renting and buy your own place. Your first home most likely will be smaller or in need of more updating than the home of your dreams. The same process applies to starting and running a business. Start small and gain experience as you grow your business ideas and opportunities. Use the profits you make to reinvest into the business.
It Might Fail
Starting and running a business is hard. It is harder than most people think it will be. Often, it takes longer to become more profitable than most people imagine. Yet. It can be the most rewarding thing that you have ever done.
Life is meant to be lived.
When you start and own a business, you need to realize upfront that not every great idea that you try will work. Yes, some people might consider that a failure. If something isn’t working, a business owner simply needs to stop doing it. Revise it if necessary. Or maybe they should replace the idea with something else. Business plans, strategies and product offerings area all fluid. They can be changed and they should be changed as required. Business owners can not view failures as failures. When things do not go as planned or hoped, it is simply an opportunity for improvement. Failures should be viewed as educational lessons. Granted, some will be more expensive than others. Thus, it is important to continually monitor what is going on.
Starting as business is like going on an adventure. The more you learn, the more confident you will become. The sooner you get started, the more you will learn simply because you are getting hands on experience.
Please realize, everyone is concerned about failing and losing money. There is risk. If you have read this far, I’m going to assume that you have some capacity to deal with risk. People that are terrified or paralyzed by the idea of risk should not go into business for themselves. They are best suited to be employees where someone else tells them what to do and when to do it. Although I’m not one of those types of people, there is nothing wrong with having that outlook. After all, business owners have to people that are willing to work for them to grow their businesses.
However, the person that takes the risks will also receive the most financial rewards. It has been that way from the very beginning of time and it will be true to the end of time.