Have you been thinking about or talking about starting your own business? Maybe you have thought about starting it as a part-time business or quitting your job completely to start the business.
But you keep putting it off.
Why is it like that? Let’s see if one of these reasons applies to you. For each, I explain why I am calling it a lie.
# 1: You feel that the time is not right.
Have you said this before?
‘I will start next year’
“I will start after I save some money”
‘I am just waiting for this project to be over; then I will start’
And yet here you are.
You are still planning.
When exactly will it be the right time? Never actually.
The time is never just right.
The right time is now. Many people say I will start next year. When next year comes they will still be saying I will start next year. Meanwhile, the clock never stops ticking.
Here is what Napoleon Hill says about that:
“Don’t wait. The time will never be just right”
#2: I don’t know what business to start.
Ok, let’s make this simple: what exactly is a business? Business is simply about helping people and getting paid for it.
Are you in a position to help other people using your knowledge, your skill, your talent, your passion, your connections or other resources that you already have?
Then you do have a business idea already. But if you would like to explore more business ideas, get my free eBook which has over 60 business ideas that you can start with a limited budget. GET IT HERE.
But let me share with you something I have discovered. Whenever someone comes to me and says I don’t know what business to start, I just ask them 3 questions and they already have an answer for me.
They know the business they want to start but they have some doubts about it.
‘Will it work?’
‘What if I fail?’
‘I don’t know how to run a business’
‘I don’t know if the market is ready for this kind of business’
‘I don’t know if there is demand in the market for this kind of product or service’
Is this true of you?
If it is, then what could be holding you back is a mindset, not really lack of knowledge. If working on your dreams is more important than staying in your comfort zone, keep reading.
#3: I don’t have enough time
Does your current job or lifestyle take up so much of your time that you have no free time left to work on your business?
Here is a question for you: How badly do you want to start your own business? Why do you want to start your own business?
The reason I ask this is that the bigger your reason you have for wanting to start your own business, the more motivated you will be to actually take action on it.
What would it mean to you to have your own business? When I was younger, my favorite saying was this: Where There is a Will, There is a Way.
What way can you find out of your current situation in order to create more time?
Can you change jobs? Can you find a job that demands fewer hours from you?
Can you talk to your boss so that you arrange your work in such a way that you can create more time?
Do you know what I think? Most bosses want results from you. What if you could produce those results more efficiently, isn’t it possible to create some free time?
Can you go through your current daily activities and see what you can cut out?
Can you drop some of the projects you are currently working on? Remember, tot every idea is worth pursuing. Not every project is worth your time.
In fact, I find that sometimes, we commit ourselves to things that don’t really matter that much. Look at the things that you are involved in and see where you can create some time.
Or could it be that you need to learn better time management?
Remember, we all get only 24 hours a day.
Nobody gets special treatment when it comes to time. It doesn’t matter who you are. Everybody gets only 24 hours. So, why is it that other people are able to accomplish a lot more within the same amount of time that you also have?
#4: I don’t have enough capital for a business.
This is a good reason I must say. It is the most common reason people give me.
I have a question for you: EXACTLY how much would be enough for you to start?
Here is the funny thing I have found. Whenever someone gives that reason for not starting a business, I ask them how much EXACTLY do you need to start and guess what? Most don’t know the exact figure.
Sometimes, we just close our mind and say we don’t have enough capital and allow this statement to stop us from even exploring possibilities.
What exactly is enough capital?
Does the name Robin Miller sound familiar to you? This is one of Zambia’s richest men. Guess what he said is one of his biggest challenges; that’s right raising capital.
In an interview with How We Made It in Africa, this is what he said:
“The biggest challenge for property development generally is the ability to raise capital, sometimes in an environment where it is not easy to do that. So that’s the most difficult part of my role.”
Do you see what I am driving at? If a millionaire like him can have this problem, what does it mean? This problem will be around for quite some time. Will you wait until it goes away or will you challenge yourself to start where you are with what you have?
The resources, the skills, the knowledge, the connections that you already have right now or
Will you keep waiting?
I invite you to take my FREE 10-day email course on How to Start a Business With Limited Resources.
#5: Building a business takes too long.
Fair point. Actually, this one is not a lie.
Building a business does take time.
Let’s say it will take you 5 years. Is that too long?
Let’s say your answer is yes.
Here is my question: what have you done in the past 5 years? What have you accomplished?
Or here is another point to think about: whether you start your business or not, 5 years will still pass because time waits for nobody.
The only question is, 5 years from now, will you still be where you are today or will you have made progress on your goals?
It’s up to you. Just remember that the 5 years will pass whether you start or not.
#6: I have an idea but I don’t know sales and marketing
I understand that.
Truthfully speaking, you cannot succeed in business without selling.
Business is about selling after all. Here is the good news though, whether you feel you are a natural at selling or not, selling is a skill that you can learn, in the same way you have already learned so many other skills.
Check out this article that could help you spot The Top 3 Reasons Why Customers Are Not Buying. It also comes with a FREE 10-day email course specifically addressing selling.
Lie # 7: I can’t sell.
This reason is not about not knowing how to sell which I already talked about. I am referring to the reluctance or unwillingness to sell.
Now there are many reasons people don’t want to sell. Most of these reasons are mindset related.
I wrote an article sometime back title The 6 Obstacles To Selling.
Here are some points I shared:
-a person might feel that selling is beneath them. You know, there is a segment of society that looks down on selling. They fell that selling is for people who are not that educated. So, for a person who is very well educated, or a person who has a certain status in society; they might struggle with the idea of selling because of this notion.
This belief that selling is beneath them.
-fear of rejection
This is the other obstacle I Iooked at in that article. Nobody wants to be rejected. Nobody. It’s unnatural for a human being. We all want acceptance.
But the whole process of selling; part of it is that you have to face rejection. Because not every customer is going to say yes to your offer or to your request.
-you don’t want to put people under pressure to buy
This is another reason that makes it hard for some people to conduct sales. They feel that selling ia bout putting people under pressure to buy. So they will say I don’t want to put people under pressure. I have a friend who says one of the reasons she cannot grow her business by having more sales is that she feels like she is troubling people when she asks them to buy.
She feels like ‘I am just bothering these people.’
I won’t reproduce all the details I covered in that article, you can read it here. If this is an issue that you resonate with then I encourage you to read that article and see the other reasons and how you can overcome each one of them.
Lie #8: I am afraid I will fail
Fear of failure.
The #1 cause of failure is fear of failure.
Isn’t it ironic? It’s not failure itself that stops people but the fear of failure. Now let me just say right away that the reason fear appears to be such a big problem is really a matter of perception.
What does fear mean to you? Let me give you a quote from my book Unshackled.
“We often over-analyse and think of the consequences of failure to be much worse than they really are.”
In this book, I have talked about fear and limiting beliefs that hold us back from pursuing our goals.
I also talk about how I have overcome fear and limiting beliefs in order to go after my goals.
You can get yourself a copy here.
#9: I am waiting for finish my MBA.
Ah…the degree issue again. Do you need an MBA to start a business?
There has been some interesting debate around this topic.
I have had this answer from a few people who think they will have more confidence to run their business after getting an MBA.
Sometimes, it’s not an MBA, it could be a diploma in Business Management or Business Administration or a degree.
It’s a fair augment. But let’s have an important distinction: starting a business doesn’t need any degree.
However, running and growing a business requires knowledge.
But is having an MBA the only way you can acquire business running knowledge?
Check out my other arguments around this topic in this article: 6 disadvantage of being a degree holder when starting a business.
Lie # 10: Business Is Not For Me
This is another fair point.
Well, let’s be honest, not everyone should be a business owner.
Self-awareness is also very important, so it’s good to know yourself and to be honest enough to know what you can or cannot do.
But the problem is that many of us have these self-imposed limitations. How do you know business is not for you. Is it really true? Where did you get that idea?
What exactly about business makes you conclude that it’s not for you?
I have my doubts about that because you have read this far.
Why are you reading this article? Perhaps you are just interested in generating more income but the idea of owning your own business puts you off.
In that case, check out my other article: 3 Ways You Can Make Money.
Does the idea of starting your own business still appeal to you? Learn how you can do so with limited capital in my 10 day free email course.