What you need to overcome so that you can start your business.
Where To Start
- More often than not, we sit on our ideas because we are pretty stumped when it comes to figuring out where to start. It’s a whole different ball game, isn’t it? Well, not quite! Many have gone before you. And yes, you might argue that their ideas have been nothing like yours, but get this, entry into the industry has not changed much. So follow those who have gone before you. Find out what they did, learn from the challenges they faced and the mistakes they made. It gets easier that way!
Lack of Expertise
- The uncertainty of whether or not you know what you are doing will hit you over and over again. But that is not to stop you one bit! Remember we are all in a learning curve, suppressing your idea is just denying yourself a chance to learn. The key is to continually read about your field of interest
- Everyone thought you would be doing else. The shock on their faces when you left employment had you questioning your decision. You probably don’t know this but you are a role model for so many more people than you even realize. Pursuing your dream, giving it your all and living it well is something your family and friends admire you for!
- Then comes the fear of whether or not you will have enough capital to to start out. The fear of having an investor and what percentage of your company they will control, ownership and getting into debt. Of course there are other options to consider, but the one that secures your peace of mind; BOOTSTRAPPING. It may take a relatively longer time for you to save some money before you start and grow, but the upside is that you don’t have to give up any equity or control. Your business is yours alone!
- Tapping into your preferred market may strain you at the beginning. It is however important to remember that your ATTITUDE is KEY. Approach it all with an open mind, remember your brand promise and above all else stick to your marketing strategy. Do not be afraid to evolve, study your market and keep adding your wealth of knowledge.
Success Is Foreign
- You are now in the market and demand for your once “Not so good” invention is off the charts. You are worried that you might not meet your market expectation. Here is an Ego boost: Your product is serving a purpose, It’s fulfilling a world need.
- Remember that hitting a roadblock from time to time is inevitable. However, this is not a permanent situation, allowing it to be is the mistake many have made. Don’t let yourself become one of the many. Instead, learn from the fails, be persistent, passionate and persevere. Keep in mind that not starting out at all, is denying yourself a chance to fail, but most of all, a chance to LEARN, EVOLVE and GROW!
So ladies and gentlemen, the sooner you realise that your fears can be worked on and overcome, nothing will be standing in your way!
By Eunice Mutindi