Say NO to excuses for not starting a business
Everyone has probably wondered what it would be like to start their own business at one time in their lives. Being your own boss, doing all the things the way you like it and can understand it and pocketing all the profits sounds appealing. If your idea and your execution is right, you can become a millionaire and buy all the things you always wanted.
After dreaming about it, a lot of people actually take some steps towards starting a business. They do some research, start writing a business plan, consider pricing, think about how the business would run and more. Oftentimes, however, the excitement and feeling that anything is possible fades away as fast as it came. When examing starting a business on a deeper level, people often discover that there a number of things that they hadn’t expected that they would need to do. Furthermore, tehy may find that competition is too strong or that starting out is too expensive … What should they do now?
Lot of people get to this point and give up. They start thinking that starting a business is only for people with alot of funding and lots of connections and / or experience. At this point they feel somewhat satisfied, because they know that not being able to start a business is actually not their fault. But this is wrong. Let’s look at ways to find the will to overcome these problems.
Naturally, there are competitors out there with strong market positions, advanced services and lots of capital. But remember, none of them are perfect. They all have some problems and weak spots. Just check out the Yelp reviews of a few big companies — you can check the ones within your industry. Lots of these businesses have relatively poor customer reviews when you look at the way they present themselves. Identify the weak spots that they have and go out with service that has these weak spots covered. I always like to think of how Nokia ended up. Once the king of the cell phone market, today they are virtually irrelevant. They were so sure about their position that they stopped innovating and being active. Strive to be the Android or iOS of your industry. You will find out that your competitors aren’t as strong as they look.
Do you lack money? Come on. While it’s true that you can’t start your a car brand or winery without large capital, most of the businesses that you can start do not require a lot of money to start. It seems impossible at first, but try to write up all the things that will cost you money and think about free (or less expensive) alternatives. Instead of paying big bucks to some company, or even a freelancer, for creating a website, reach out to your family and friends — I’m sure at least one of them will be able to do this for less money (or for free). Next, instead of renting an office, start at home. Really.
The next thing is dealing with paperwork. If you’re not confident you can form a company by yourself, you can use an incorporation company to help you; it’s pretty cheap. For accounting you can use QuickBooks or FreshBooks which are both designed for small business owners who don’t want to pay expensive accountants. If you’re still not comfortable with this, again reach out to someone from your family or friends who already started a business.
Let’s be honest — yes, your business can fail. You can end up with no customers and no money. So what? The idea I want to present to you is that it’s really not difficult and expensive (all the neccessary stuff should cost less than $700 — including formalities) and the worst thing that can happen is that your business will not take off and you will have to abandon the idea. Even in this instance, you won’t lose a lot of money (maybe you won’t lose anything). You’ll have a great experience your current or potential employer will be happy to see. And, most importantly, you won’t be asking yourself for the rest of your life ‘what if‘? If this is the worst thing that can happen, why not give it a try? Just imagine — well, you probably already have — what it would be like to have your own successful business. Successful doesn’t have to neccessarily mean becoming a millionaire. The final decision is yours, but remember, every entrepreneur you look up to nowadays felt like you do now. They said yes, I’ll try it — you should too.