“I’d love to start my own business but I don’t have a good idea, money is a bit tight and I’m really busy at work.”
Sound familiar? These are some of the most common excuses which prevent many people from ever starting their own business. I should know. I used them repeatedly for 8 years.
Now for the good news. You can overcome these obstacles almost immediately, because they aren’t the real problem. Your mindset, or what Steve Peters calls your ‘inner chimp’ (basically your inbuilt survival instinct), is what’s holding you back. Tackling this mindset doesn’t require massive action but small, regular, practical steps. What’s more, you can start reshaping your mindset by confronting some of these perceived obstacles right now. Here’s how:
1) ‘I don’t have a good idea’
That doesn’t matter. Forget about the big idea for the time being and instead make a list of your values, what really matters to you and what you’re passionate about. This is your starting point but also the acid test as any idea you develop down the line must fall within the parameters of this list.
Now start a blog. Nothing complicated, just start writing about things relating to your list, developments in that industry, it could even be a book review. Many businesses, such as Derek Halpern’s Social Triggers, start out as blogs. The ideas will follow but for the moment, focus on exploring your interests and get comfortable sharing them.
2) ‘Money is a bit tight’
You need less than you think. I promise. Anyone can build their own website these days and so you can get going with little more than a laptop. Granted you might need a little more if you are a product based business but don’t invest all of your money in stock until you are sure it’s what people want. The smaller you can stay in the early stages the better as you’ll be able to easily adjust your offering based on customer feedback.
3) ‘I’m really busy at work’
If you want to do it, you’ll make time. Could you get up an hour earlier, operate more efficiently at work or forgo that hour of junk TV in the evening? I’m afraid sacrifices will have to be made but you will find time if you are passionate enough.
However, word of warning. Don’t quit your day job to make time. When you do hand in your resignation, ensure you have a few different income streams to fall back on, such as freelancing in your old industry, using Airbnb or trading your skills on an online marketplace such as Fiverr.