A Cup of Coffee and Business plan Idea Sketch with Pen

What’s Your Excuse for Delaying Starting a Business?

There are a lot of good reasons to start a business, but people always seem to find at least one compelling reason not to. In some instances, it’s indeed wise to veer away from the entrepreneurial route, but other times, the “compelling reason” you have is only a lame excuse, at its core.

Often, it comes from fear: fear of failure, rejection, or the unknown. What you feel is valid, but how you respond to the fear — the delay or the avoidance — isn’t healthy. If any of the things below is your excuse, why don’t you confront your fear and take the plunge instead of postponing your venture?

“I don’t have the money.”

You can’t imagine slashing your savings in half or putting your family through financial sacrifices. That’s essentially a fear of change. The drastic shake-up in financial stability is what’s keeping you from doing it.

But you don’t have to make a radical move that’s beyond your comfort zone. It’s also not smart to do that when you’re only starting a business. Determine what you’re willing to give away in terms of capital, and then adjust your business plan to complement it.

Another option is to find investors. In this case, you don’t need to put in a lot of cash. You only need to work on a really good pitch. Consult the business community in your area for references of investors. Tap your friends in the industry. Exhaust those online crowdfunding platforms.

 “I don’t know enough.”

This is self-doubt speaking. It’s the fear of not being good, accepted, or respected in the community. But the thing is, every entrepreneur has this insecurity, even the ones who have been in the industry for years.

What they do differently, though, is they persist in the field they’re in. The more that they stay, the more they get exposed to learning and networking opportunities. Projects that allow them to take risks. Mentors who enrich their perspective.

So, go on with your business based on what you know now. As you get used to the industry, you’ll grow in knowledge and experience and eventually, you can make your venture better.

However, if you don’t have a clue about the field you’re trying to break into, it’s better to go into franchise businesses. It’s just a matter of following the pattern and the model. Consider a printing franchise as your first endeavor.

 “I don’t know what to do.”

man thinking in front of his computer

Sometimes, it’s just a case of not having a great idea, right? You simply don’t know what to pursue. If you try to unpack this excuse, you’ll find that this is fear of not being able to come up with unique stuff. But there’s always an opportunity for business, as long as you look at a specific audience.

The keyword here is “specific.” Find a very targeted public. From there, look at their pain points. What is it that they need? What is a problem that bothers them constantly? That thing can be turned into a business idea. That’s your answer to not knowing what exactly to do.

Some excuses are just disguised fears. Don’t give in to those excuses. Don’t delay starting the business. Instead, overcome the anxieties. Be an entrepreneur today.