The reason people don't start their own Business and how to get over that hurdle | Di Downie - The Ideas Diva.Shaping your ideas into reality

The reason people don’t start their own Business and how to get over that hurdle

Do you want to re-invent yourself to a successful Entrepreneur?

All of us want to be the Captain of our own Ship, right!

Most of the people are working hard for the entire week, day-in and day-out to achieve their job targets and they are often fascinated to see a debonair having a successful business and riding his or her SUV, choosing the lifestyle they dream of.

People tell me, when they are being criticized or they feel De-motivated at work or when the salary cheques don’t meet their dreams, they wish that they could have our own business but many people have that fear of failure. That thought of“it is too risky”.  The thought of “I could never run my own business”.

I have always operated my own businesses.  I packed fruit when I was 14, otherwise I have earned my money from creating ideas into sales.  I have no clue what it is like to have a salary.  For this blog I asked people who have a job the question of “what is the difference in your opinion between having a job and operating your own business”. Here are their comments:

“A salaried person works hard to earn his fixed salary, meet their appraisals, with all the profit going to the employer. The Employer has many more choices than an employee”

“Being a business owner, all the hard work and efforts that are put in, will contribute to the business growth and their lifestyle not the employee’s lifestyle”.

“An employee has certain tasks whereas the business owner, if they are successful, needs to have varied tasks”.

“Often an Employee does not take the risks that the business owner is willing to take”.

“I know that I am fearful of not having a regular income for my family.  I don’t understand the business owners thinking”.

“I know that I get my money after the tax man gets it but I feel safe that way”.

So why don’t we overcome the fear of hurdles and be our own boss. According to a study done by The University of Phoenix School of Business, nearly half of the people who are in their 20s and 30s wish to have their own business someday. But the majority of them can’t take the big leap due to the common fear of hurdles, which I believe can be easily overcome.

So, before I tell you to how to succeed in your business, let me first share with you some of the reasons why people don’t want to start their own business. I am sure you would relate to them as these are very common and basic issues which prevent us from touching the sky.

1. Fear of risk to own a business
You may feel that it is a huge risk to take, if you start your own business. The degree of financial risk can be low nowadays with the use of the internet and new skills. There is still a believe that to start a business is expensive and risky. But don’t you think we take risks every day? So the key to it is to have a system, an experienced institutional mentor.

2. Judgement of “rich” people
The major DE-motivator for many people are their own judgements.It kills the idea and their belief of what they love and want to do. No one is born successful. There are many aspects that have helped the business tycoons achieve their goal. Though some people were fortunate to be born in wealthy families, we can’t relate it to their personal and financial success. Even the most successful entrepreneurs, had to wait for years to reach the mark they dreamt of. Nothing happens over-night.Always remember, we need to have the right approach to turn out even small business ideas to big dreams.

3. Clueless about your passion
Most people follow the monotonous routine of working throughout the day, moving from one company to another being a part of the global rat race. We forget about our passion and purpose, and we lose track of what is important to us.We have many passions in life, but we don’t get the time and opportunity to do that. Like I love to swim, travel and read about health and food.As a women entrepreneur, and having 38 years of professional experience in operating and building different businesses successfully, I do all this while doing what I love to do and follow my passion. I really have turned my ideas into profitability.

4. Having the fear to Sell
Everyone is surrounded by people who are looking for reasons to criticize and ridicule us. And believe me, they will simply sit on the fence and voice their opinions without any thought. The ‘Tall Poppy Syndrome’, is not only a problem in Australia, people around the world are suffering because of it. A small negative comment or no comment can snuff out your dreams and ability to explain what we do. So why don’t we choose an easier option by simply,“sharing our views”, without actually “selling” them.Don’t let others shift your focus and shape and ruin your destiny. I have already talked about

5. Not able to take directions
One major reason why people can’t start their own business is that they don’t like to take directions from a mentor. They think that they know everything and don’t like to take suggestions and feedback. People tell me that they thought they could it by themselves, before they realized that they were not getting the results.Having an influential and experienced Mentor is way different from having a Coach. A Mentor is the one who has already reached where you dream to be.  A Mentor is NOT a coach. I strongly recommend to GET A MENTOR, and not a life coach or a business coach. To have a successful business it is important to focus on what your mentor says and DO what they suggest.

6. 24×7 Workload
You may feel that running a business means you have to work 24×7 to get the desired results. But if you are in love with whatever you do and you are good at it, be it a job or business, then you will be thinking about it all the time. As you turn your passion into sales, it will no longer be a burden for you to work long as long as you work smart.

7. Believe in yourself
When I started 38 years back, I never thought that I will be operating 8 successful businesses and shift from one industry to another.  I had the courage to believe in myself. There were obstacles in my path and I faced a tough time,  I didn’t always have a clear picture of what I wanted to achieve I moved one tiny step each day. Only if you believe in yourself, then only others will.

8. Fear of Failure
Failures are a part of life, it depends on you how we feel about our “failures” . I don’t think of failures as mistakes. I have a choice of how I perceive that “mistake”. Instead of feeling hopeless or feeling wrong, or feeling less than, I prefer to feel that I am in the right spot, at the right time. We always have a choice and it depends entirely on us as to which we choose.

9. Financial Stability
A regular job guarantees regular salary – this is a common thought for employees. People tell me they are afraid that they might not have the guarantee if they start their own business. I believe that there are never any guarantees.

10. Inadequate Personal and Financial Resources
Many of us are not well-off financially to start a business and we do not have investors who can help us. But I believe there will never be enough support to start anything new when we have a fear of starting. I still feel that I don’t have enough support at times. I have to ask for it and at times I have to wait for money to come in so I can take the next step in developing a project within the business.

So, now that we have discussed the hurdles or obstacles that will prevent in starting your own business. Let us see how we can work upon these and feel successful doing it.

As I told you earlier in this blog, it is important that we have our ideas clear in our mind. It does not matter if your ideas is about helping people with their health, their relationships, their finances, their minds, etc. You can think of anything related to your passion, whether it is to save our ocean coral or the gorillas in Africa. The important thing is that you must have all the fundamentals in place.

 

Though we won’t be able to discuss here in detail, let us have a look at the big picture clues to operate a successful idea to profit.
YOU must have the 3 factors that I call as “THE THREE S’s”. To have success in any kind of business, there are three major aspects that one needs to focus on. Let’s see what they are:-

1. SYSTEM
a. You must have a system to catch your ideas and to transform those ideas into a business system.
b. Your system must be based on your personal values and needs.
c. Your system must be easily understood by others for the leverage of your time as the business owner.

2. SUPPORT
a. To operate a business it is important to have feedback on the business idea. Having an experienced Mentor is the safest and quickest way to this.
b. The role and support of the people you hang-out with are also very crucial. Their conversation, motivation and criticism will play a vital role to your success on any level in the project.
c. With everything going global you must know what is currently going on in the market place and you should be able to use the tools that are available to you…. For example Social Media platforms are simply tools.

3. SIGNATURE
a. You have to be Authentic with clear thoughts in your mind.
b. Your brand must be aligned with your authenticity and your values.
c. You must ensure that you deliver your services and products in the stipulated time, as committed to your customer.

You can read more of my lifes work in my free ebook or from my Best selling book.  A High Heels Paradox.

Hugs and love

Di

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3 thoughts on “The reason people don’t start their own Business and how to get over that hurdle”

  1. #5 “Not able to take directions” is an interesting one. I always thought that I preferred running a business because I couldn’t take directions during a day job. But you’re right… you have to be able to take directions from a mentor. The 3 S’s is pretty easy to remember.. that’s a great one!

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The reason people don’t start their own Business and how to get over that hurdle | Di Downie – The Ideas Diva.Shaping your ideas into reality