Many people find the idea of becoming an entrepreneur and running their own business incredibly attractive, and this is a trend that is set to continue in the future. However, despite a generally positive attitude to the idea of being an entrepreneur, relatively few people make the leap.
In some ways, this is understandable: people may, for example, like the concept of life as an entrepreneur, but more as an abstract idea rather than something they are actually contemplating doing. However, a huge number of people want to be an entrepreneur on a practical level, genuinely think they would enjoy it, and believe they have the skills and experience to make it a reality… but something holds them back.
Below, we have put together a list of the three most common “somethings” that hold people back from making the change and pursuing their entrepreneurial dreams - as well as a few ideas for how these concerns can be mitigated.
Lack of a reliable salary
This is one of the biggest concerns people have about the idea of starting their own business, and there’s no denying it’s a difficult one to navigate.
The answer here is in preparation. It is generally advised that you should have around six months of living expenses saved prior to leaving a job to start a business. If this is not feasible, then you may want to explore the possibility of starting a business while you’re still working a day job.
Lack of customers
For your business to be successful, you will need customers - and the idea of starting without any customers can sound incredibly daunting. However, there is a huge amount of advice online that can help to attract customers to a new business, and with the right research and dedication in this area, you should be able to gradually attract the attention your business needs. The video below is a great starting point, and you can then develop these ideas further depending on your chosen niche:
Lack of secondary expertise
Most entrepreneurs choose a field they are already familiar with for their business; for example, if you have worked in marketing, then it’s natural to open a business that capitalizes on this experience.
However, running your own business means you will become responsible for a wide variety of secondary elements: you will have to have an idea about accountancy, IT, customer service, and even human resources. Many prospective entrepreneurs may feel they have the expertise to manage their core business, but that they lack the other skills that are essential to a modern business.
Thankfully, there are plenty of solutions to this problem, with outsourcing one of the best choices: with essentials such as managed IT services and customer service all easily outsourced, there are ways and means of ensuring you have access to the secondary expertise you need.
If the concerns above are contributing to your reticence to make your entrepreneurial dream a reality, hopefully the tips above will prove useful for overcoming this. Even if your specific concern is not listed, you can apply the same kind of thinking - identifying the problem, then seeking a solution - to overcome each individual worry you have. This may, in turn, allow you to overcome your hesitancy, and allow you to consider embarking on the entrepreneurial path you have always thought you would enjoy. Good luck!