What’s the difference between an entrepreneur with a fantastic business idea and someone who’s running their own small company? Fear. Fear can bring a halt to even the most inspired, and set to succeed, business plans. Sometimes fear even puts a stop to the development of a business plan in the first place. Let’s be honest, business can be scary. Developing a new business is a risk and a step into the unknown. But plenty of business owners put their fears behind them to power forward in their ventures. Here are some common start-up fears and how you can put them behind you.
Fear 1: “I Don’t Know Where to Begin”
Many people experience the fear of not knowing which path to take after having an initially interesting business idea. The main thing to remember is not to let this initial fear paralyse you. Yes, there are many different options but if you don’t take any you will set yourself up for failure. Network with other people who have achieved their goals and find out which path they took. And just take a step forward, building from there.
Fear 2: “I Don’t Know Enough”
Even if you are not a complete expert yet in your field, make a start at planning and running your company with the expertise you already have and you will find that your knowledge and experience just get deeper and deeper. If you don’t know the answers, ask for assistance. Find out – there is no shame in not knowing everything, particularly at the start.
Fear 3: “I Won’t Find Funding”
It is clear that without sources of funding any business will struggle, and the fear of being without money has stopped many people from developing their business ideas into reality. According to www.ashleyfinance.co.uk, not everyone will be able to walk into a bank and leave with a hefty bank loan – and this is not for everyone, even if they could achieve it. Alternative sources of funding are available that can be accessed by small start-ups; specialist firms provide loans for small businesses, and there are crowdfunding initiatives, plus you can investigate how to invest funds slowly into your business so you grow gradually rather than burning out.
Fear 4: “I Won’t Have Any Customers”
Every entrepreneur has that nightmare of opening the shop door on the first day of business and finding an empty street. Everyone is afraid that they will not attract customers or build a following. But unless you approach your business with a positive attitude, work hard, and concentrate on giving your future customers what they want, you will also be stuck with the “what ifs”.
Fear 5: “What if Everything Goes Wrong?”
If everything goes wrong, sit down, take a few moments, then pick yourself up again. Start again, doing things differently based on what went wrong before. So many of today’s most successful entrepreneurs went through business “failures” on the path to success. Maybe don’t look at these as failures but as the price you have to pay to develop your resilience, your skills, and your products.
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