Here are 5 reasons why we put off starting a business and why these reasons are so powerful.
Some of them you might recognise in yourself, others might surprise you…
- Fear of failure. Most of us have, at some time or other, thought about trying to achieve something that is a little out of the ordinary for us. It might be a lifestyle change, a diet, a new career or a new business venture. So very few of us actually see this through though, why is that?
The fear of failure is a very powerful driving force. It prevents us from taking the chance, from throwing caution to the wind and from seeing if we have it within us to succeed.
It is not a bad thing, it is there to protect us. It wants to save us from the humiliation of having to tell everyone that we didn’t succeed. We don’t want our nearest and dearest to see us as a failure. We don’t want to be perceived as someone who can’t see things through. Our fear of failure is there to protect us from this hurt.
It is not a good thing either. The mere fact that it is discouraging us from even trying is troubling. If we listened to it all the time we would never have learned to ride a bike, swim or pass our driving test. So when should you listen and when should you ignore it?
Easy. When it is protecting you from certain physical or mental harm that is real, then obviously listen to it. When it is protecting you from the possibility of humiliation or having to eat a little humble pie then ignore it.
Never having tried in the first place is far worse than having tried and failed. The only people who will tell you anything different are the people who are too scared to try things themsleves, and will forever try to dissuade others in case they should succeed and prove their justifications wrong.
2. No money to invest. There are many businesses these days that be started with very little in the way of capital outlay. The internet has opened up all sorts of possibilities.
For example, the worlds largest accommodation company Air bnb owns NO hotels. The largest taxi company in the world Uber owns No cars. The largest book store in the world Amazon owns NO shops.
Working online means you can have professional businesses that don’t require premises, vehicles or machinery.
Franchises are also another opportunity for people to invest what little money they have into a larger and well established business model.
If you are determined enough, there are ways you can set up a business with next to no money and take it to a six or seven figure business in a very short time.
3. Already work full time. Starting a business does not have to take up hours and hours per day. You can start a business from home in just an hour or two per day.
There are many people who have second incomes from businesses they have started on the back of other businesses, Forever Living, Avon. Herbal Life and Pampered Chef to name but a few. There are many distributors who go on to make this their main income and grow their small businesses into much larger ones over time.
Others start blogs about things they are passionate about and with a little effort and know-how, they turn these part time blogs into massive income generating businesses.
4. Lack of encouragement from spouses/partners. This comes back to reason 1. The reason they are not encouraging you in your dreams is that they care about you and don’t want to see you humiliated if you fail.
They are also scared for themselves. What if you succeed and outgrow them?What if you fail and there is no longer enough money coming in to pay the mortgage, rent or bills? What if you succeed and then spend most of your time away from home?
As a coach I find this the most frustrating reason of all. Having your own internal voice telling you that you will fail is bad enough, but listening to other peoples internal voices will most certainly put the kibosh on anything you were planning.
Find others who have started in business and listen to them. They are far more qualified to give you advice and guidance than those around you who have never even tried and probably never will. For all their good intentions, what do they know?
5. Fear of success. Of all the reasons I come across as a coach for not starting a business, I find this the most fascinating.
Surely success is the whole point? Surely that is what everyone is hoping and striving for?Surely with success comes the rewards that you were hoping for when you started out?
Well apparently not. When I started to ask my clients why they hadn’t followed through on action points or why they thought they had stalled in their business they said things like…
“I’m not sure I want to earn that much money because it will affect my friendships”
“If I manage to get a completely passive income what am I going to do with all that time?”
“What if it affects the way my husband/wife/partner sees me as a person?”
These are what are called self-limiting beliefs. They are the things that hold our dreams and ambitions in check. They are the voices in our heads that try to keep us the same as we have always been. They are there to protect our identity and will fight tooth and nail to keep us from no longer needing our ego.
The trick is to recognise them for what they are, acknowledge them and then move on with your plans.
You will soon see that your friends will either stay your friends (if they are true friends) or that you will make new friends. You will see that although your partner is seeing you differently, it is with a sense of admiration and pride. You will see that you will fill up the time you now have to do the things you always wanted to do when you were too busy.
Having a clear idea of what you want to achieve and why you want to achieve it will help you keep your self-limiting beliefs at bay and keep you on the right track to success.
I hope you have found this post interesting. Are you thinking about starting a business yourself? Does any of the above resonate with you? Have you been in business for a while and are finding it hard to break through that self-imposed ceiling? If so then come and join me and other entrepreneurs in my new Facebook group “Booming Businesses“.
It’s completely FREE and gives you lots of tips, tricks, tools and techniques to keep you going and keep you motivated. You can also talk to other members and ask questions and get help. There are weekly tutorials and many other helpful and supportive videos. I look forward to meeting you and will see you in there!
Lynne Thomas – Life & Business Coach
Creator of Boomimg Businesses Support Group