Excuses, excuses! One of the biggest enemies of progress. Let’s take a look at some of the main ones that prevent people from starting a business.
No money (or not enough)
Lack of funding is an issue for most start ups. Usually people are inspired to start a business because they want to make money, which implies they don’t have much to start with. Even though lack of money is obviously a challenge, it’s still not a reason to stop you from starting a business. Businesses, new and old are always fighting budgetary problems. It’s just a part of being in business. Try exploring some funding options for start ups and young entrepreneurs which may secure some starting capital. You can also start looking for potential investors who can help inject funds into your business idea.
Not enough time
Not having enough time is another very common excuse that we hear. Most people have a primary commitment whether it’s school, university or a job. This means that working on a business idea will only happen when the schedule allows you to do so e.g. lunch break, after work. The title of this article has the words “starting a business” which means that the business doesn’t need to be in its final and complete form in order for you to get started. Your business could start off with a website, which you can work on for 1 hour a day after work. You could start by working with one client at a time on the weekends outside of school. As the business grows, your commitment to it can increase, until you’re ready to take it full time. Businesses are always evolving, so don’t worry if you feel like it’s incomplete at the start. Unfortunately too many people use the little spare time they have to binge watch TV, or play video games or look at memes on social media (we used one for this post). You can obviously have downtime, but maybe instead of spending 3 hours every evening, spend 2 hours having down time and 1 hour working on your business.
No financial security
Most new business ideas tend to involve periods of no income (or very little) for the owner. The business will ask for your time and your money, but it won’t promise to give you anything back. It’s definitely a gamble. Again, all you’re trying to do is get started. You don’t have to dive knee-deep into the business when you’re starting off. Keep your job for now. Work on your business in your spare time. As the business picks up, you can start slowing down on your day-job until you’re finally ready to quit. TIP: set a target income that your business should be earning before you decide to start doing it full time.