Every crisis comes with a big opportunity. If you look back in history, companies like Uber, WhatsApp, and Instagram were the result of the recession. This is an indication that many new concepts and thousands of new companies and entrepreneurs will emerge during and after the coronavirus pandemic.
You should ask yourself a question – what is your purpose in life?
Are you born for a 9 to 5 job, or do you have that spark for entrepreneurship?
If you feel that you are a misfit for the job you are doing and can do much better in your own business.
Then it is the right time for you to make a move.
The business landscape is changing in the world right now, which means that there are a lot of new opportunities for you to start a business. You must capitalize on it and make a move. However, there are some excuses often made by individuals who want to own a business.
Today we will address the common excuses and lift the myths behind them.
Most people are too much afraid of failure. They think that leaving their employment and starting a business is too risky. There is a lot of skepticism of whether the business will be successful or not. There are plenty of reasons why people fail. However, if they look closely, their employment itself is a significant risk because nothing is guaranteed.
You can be replaced anytime with a much capable candidate. Therefore, job security and risk averseness is an illusion which you should realize and start your own business.
It is one of the most common excuses made by people who want to start their own business. People usually do not know where to raise capital for their business. This used to be a valid excuse in older times; however, in the modern-day world, you have a lot of ways to raise money for your business.
Entrepreneurs are paving their way by financing their businesses through bank loans, crowdfunding, and even through venture capitalists. If you have a solid business idea, you can always find an investor ready to invest money. The entrance barrier and initial investment has declined as well. Online business can be started under $200.
People are often fearful of selling because they believe that they do not possess this necessary skill to run their business. However, if you observe, they have been selling themselves all their lives without realizing it. You are selling your services to the companies in which you are working.
They just need tools to polish their selling skills to make it useful for their business. There is a lot of online training material available that can be utilized to enhance your capabilities. One of the best source to get started is YouTube. The very best solution is to find a mentor.
Beginners often have this fear of not having enough knowledge about entrepreneurship. There is always a first time for everything. If you are going to start your venture, then you must acknowledge the fact that it is a learning procedure itself.
One cannot know everything on the very first day.
You will learn from your mistakes and experiences. However, there should be some preparation before starting your venture. You can meet different entrepreneurs and try to learn from them about dos and don’ts. This will help you in minimizing the chances of mistakes along the journey.
Team up with other Entrepreneurs and form a Mastermind.
Wantrepreneur is an individual who wants to be an entrepreneur but has not yet started. These people always dream about becoming the master of their fate by starting their business.
However, the lack of action is the biggest hurdle in making their dream a reality.
Knowledge without action is as useless as not know at all.
Therefore, you must make a move in making your dream into a reality. Otherwise, you will regret it if the time passes away. There is no right moment to start your venture; you must start your business today to enjoy the adventure of uncertainty and surprises.
This is a debatable topic of whether you must gain some good experience and then pursue your dream. Or you should start as early as possible.
Many people think that there are high chances of error by inexperienced people and they should gain some practical experience to make perfect moves.
However, in reality, there is no such thing as perfection. Most successful business people regret that they should have started earlier.
You can learn a lot during the entrepreneurship journey, and that learning will be more valuable. Therefore, there is no age limit for starting your business, and you must begin as soon as possible.
You cannot find success on the very first day. Many beginners are confused about whether their idea would work or not. They just do not believe in their idea, which is a natural thing because of a lot of uncertainty. You must make segments of the market to which you want to sell.
In these segments, you should identify the potential outcomes of your service or product.
Remember that focus is the key.
If your efforts are focused on a specific segment or niche, you would be able to test your idea and tweak it accordingly.
No one has a great idea on the first go.
It is the ongoing process and efforts that make it work. Model successful businesses, use your creativity to market your product and service on social media and you will be already better off than 75% of the businesses.
“Not enough time” is one of the top excuses for not getting started. It is all about setting up the priorities.
Successful entrepreneurs have the same number of hours each day as you do, and still, they are successful. It is because of time management and setting up the right priorities.
You must give up the unproductive and time-consuming activities which are of no use. Replace those with skill development activities and invest the time in your business to make it thrive.
While Teaching thousands of entrepreneurs worldwide my team and I have seen that by implementing the proper time management into daily routine you can increase your productivity by more than 45%.
Entrepreneurship is not an easy task. You will face a lot of hurdles and competitions at each level.
There are a lot of players in the market offering the same service as you want to provide. Therefore, rather than worrying about the competition, you must work on your product or service.
You must identify your unique selling point (USP) and distinguish yourself from your competition. Make a unique identity for yourself and present it to the world in a way that looks refreshing.
Let's assume you will have a long and great life. You will work 30-50 years doing what you love. If you are going to work anyway that long chose to work on something you love and chose to work for yourself.
The freedom and reward for building a great company and even an empire is amazing.