7 Reasons Not To Start A Business

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The fact you are on this blog means that, on some conscious or subconscious level, you do have a desire to start a business (or already have). Perhaps you are unhappy in your job. Maybe you want something more rewarding in your life. Perhaps you want success. You might simply want a better balance between work and family life. Perhaps you are due to go on maternity leave and you are worried that your employment isn’t going to cover the cost of childcare when you return. Or perhaps you are just bored and frustrated at the 9-5 commute and you want freedom.

The truth is, I really don’t need to write an article about what motivates you to start a business. You already have that motivation within you, whether you realise it or not. You have the desire and drive to make that change. But for some reason, you haven’t quite taken that step yet to making it happen. Here’s why. You are faced with fears. Starting a business is a scary thing. It’s natural to have fears. Here are some of the most common fears people having about starting their own business. If you identify with these, then you are not alone. But you can overcome these fears, and I will explain how.

Reason #1: I don’t have enough time

Even if you are genuinely time-poor, here’s a fact: you do have enough time to start a business. What you need to focus on is quality over quantity. Keep a task list of priorities and set aside dedicated hours to get things done. You’ll need to minimise time spent on social media and internet research and all the other things that we can use to procrastinate when starting a business, and focus specifically on things that are going to push your business a little bit further forward.

Reason #2: I don’t have enough money

You don’t need huge funds to start a web business. Start small and use free tools like WordPress to get your site up and running.

Reason #3: I’ll be giving up a well-paid job

You really need to re-frame your thinking. Are you giving up a well-paid job where you might get a 5% payrise next year if you are lucky? Or are you opening yourself up to the opportunity of a job where your opportunity for amazing financial security is only limited by your imagination and your ability to work hard?

Reason #4: I’ll be giving up job security

What is job security in today’s market? Are you really confident that your employers won’t be making redundancies in the future? What if you had a business that made money and made profit, even if you broke your leg and couldn’t work for several weeks? With a web based business, that is completely possible. So what does job security really mean?

Reason #5: I don’t have the expertise to start a business

The beauty of the internet is that there is an answer to everything. If you believe in yourself, invest in yourself. Do some training. Learn your craft. Learn how to market and learn how to sell. Most successful entrepreneurs started their businesses with very little expertise, but by believing in themselves and investing in themselves they’ve succeeded.

Reason #6: There are other companies doing it better than I can

If you haven’t watched Simon Senek’s wonderful TED talk, do so now. It will completely re-think your idea on competition.

Reason #7: I’m scared of failure

Do you know what’s worse than failure? Regret.

Ask yourself: what is the worst that can happen? Be honest. A web based business takes little financial investment. It just takes a bit of time and determination. So what have you got to lose?

So address those fears head-on. And never forget to think about everything you have to gain by doing something brave. This is your life. Live it with passion.