Starting your own business has many benefits, some of them include, additional income, business knowledge, long term investments. But, what stops you from starting it. The following are some of the reasons;
Your worried about the competition
If you’re worried about your competitors, you definitely undermine the knowledge and skills you have. You competitors were in your same position. They didn’t know whether they will make a business success. Even though that was the case, but they have started.
More than 50% of successful business today were at some stage started in the garage or remote location. Whatever your business, you have natural advantage over many of your competitors. If you choose the right market, you have a natural interest in it, and desire to impress your customers. Then you need to start as soon as possible.
If you worried that you can’t deliver product/service to a professional standard, there’s an easy answer; learn and practice.
In almost all cases, it is a matter of investing time and little money. Remember, you don’t need to be the world’s best pianist to become a piano teacher, you just need to be very good.
You don’t know where to start
If you don’t know what business you want to start up, most people have an idea of the areas they’ve interested in. You can research what most people need, then create a niche.
As a guideline, you might find out that people have interest in cleaning, cosmetics, computer repair etc. That’s where you can focus your research around.
Find out what people are interested in, search for products/services, introduce such products to them. By so doing, you have started.
You will loose money
Every worthwhile life event involves an element of risk, it’s important to acknowledge that you’re taking gamble when starting a new business. There’s a great deal you can do to maximize your chances of making a success of it, but you should always obey the golden rule, never risk more than you can afford to lose.
There’s infinite variety of business types. Look for an alternative that allows you to work in your chosen field without gambling everything. You can start your business anywhere, as time goes on you relocate to lease premises or online. Opportunities for building a business are enormous, they don’t require large capital from the beginning.
You don’t have time
There are many reasons why you might be worried about starting a business. Lack of time is the only one you have no patience for.
More often, lack of time is used as an excuse for not getting started. If you find yourself thinking “I’ll start my business next year” then you’re wasting time, you won’t even start searching the market. A word of advise, find an hour a day, or five hours a week (as long as it’s regular), you have the time to start and run a small business.
If you truly want to start a business then do it. Make time and throw yourself into it. Follow my guidelines, make a plan of action and stick to it.