Starting a business from scratch is intensely creative,
exciting, and adventurous. In my work as a small business
start-up coach and consultant, I've noticed that all of my
clients tend to struggle with similar issues. Here are the
five nagging questions they most often deal with:
1. Is my idea good enough?
2. How do I obtain the money to start up?
3. Can I run a successful business and still have a life?
4. Do I have the necessary education and experience to do
this?
5. What if I fail?
IS MY IDEA GOOD ENOUGH?
By the time you have reached the place where you are
thinking of starting up a business, you have likely
accumulated a lot of life experience. You've acquired
general information and developed expertise in one or more
areas that is unique and specific to you. While you may
share similar strengths and traits with others, in the
final analysis, there is only one you. You have a viewpoint
that is distinctly yours. The world wants to see what you
have to offer and hear what you have to say!
It's impossible to know completely at the start of the
journey whether your initial idea is good enough. You
simply must go down the road, allow your idea to be tested,
and see what comes out at the end. It's the only way to
discover your niche and to know what your unique
positioning in the world will be.
HOW DO I OBTAIN THE MONEY TO START UP?
Most people believe the only way to fund a start-up is
through angel investors or venture capitalists. That was
never true in the past, and it isn't true today. Yes, some
opportunities require too much capital for self-funding,
but certainly not all.
When considering the difference between funding your
start-up yourself or funding it with other people's money,
consider this: An outsider who makes a large investment in
your business will usually want a say in how their money is
going to be used. The same is true for family and friends
who invest in your business. This is why I encourage my
clients to get creative and find a way to fund their
start-ups themselves. That way, they are in complete
control of their success, are inspired to become profitable
sooner, and won't be spending a lot of time answering to
other people's expectations.
CAN I RUN A SUCCESSFUL BUSINESS AND STILL HAVE A LIFE?
You bet! The key is to realize that being a small business
owner is only one piece of your total life pie. It's not
the whole pie.
Just as your business is one piece of the pie, your family
is another. Your friends, another. Other pieces include
your physical and emotional well-being, your wealth and
financial health, and your service to your community. You
don't need to juggle anything. It can all flow beautifully
together, one piece dovetailing nicely into another. This
is called "having a life."
Many people think they have to give up having a life to
start a business. Sure, starting up a business takes time.
It requires focus, dedication, and energy, but not at the
expense of everything else you value and enjoy.
DO I HAVE THE NECESSARY EDUCATION AND EXPERIENCE TO DO THIS?
As part of the start-up journey, one of the first things I
address with my clients is the belief that they might not
have the education or experience to start up a business.
Most of the time my clients come in with a great deal of
experience and education, but they don't realize it's
applicable to their business idea. By focusing on what they
have done in the past, we can quickly make a short list of
what skills they might need to develop. They can work on
acquiring these skills while they are starting up. Just
because you don't have a business degree doesn't mean you
won't be successful at running a business. Accounting can
be outsourced. Teleseminars can be taken. Books can be
read. Questions can be asked. Experience can be gained. You
don't have to do it all! Whatever you don't have right now,
you can learn.
WHAT IF I FAIL?
What if you don't? What if you don't fail? What then? It is
better to have tried and lost than never to have tried at
all - to embellish upon an oft-repeated phrase by Alfred
Lord Tennyson.
Letting the thought of failure come into your mind whenever
you are embarking upon a new journey seems only natural.
After all, none of us knows if we will fail or succeed at
something new. We can, however, set the tone for success.
And setting the tone makes all the difference. Let
yourself consider failure for as short a period as
possible. Then move on.
GET ON WITH THE ADVENTURE
Don't let those nagging questions stop you from starting up
your business. Instead, address each question
straightforwardly and with an open mind. Once you answer
them, you can start enjoying the creative, exciting
adventure that starting up a business was meant to be.
----------------------------------------------------
Susan L Reid, DMA, Small Business Start Up Coach &
Consultant is the author of Discovering Your Inner Samurai:
The Entrepreneurial Woman's Journey to Business Success.
Hailed as The Secret for business, Susan is known for
taking the fear out of small business start-ups for
entrepreneurial women. For intuitive small business
solutions, powerful attraction marketing tools, inspiration
and direction, visit http://SuccessfulSmallBizOwners.com
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