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Starting A Small Business? Don’t Make These 3 Mistakes

Starting A Small Business? Don’t Make These 3 Mistakes

Most of us believe that starting a business of any kind takes a certain kind of person.

That someone probably has to have an entrepreneurial mindset or has to be able to easily weather risk or else starting a small business just isn’t in the cards for them. We might even think that a small business owner means someone has to have connections, be outgoing and easily able to network.

But the truth is, all sorts of people start small businesses – from engineers to accountants to crystal healers – and extroversion is not a requirement!

Here are three other common myths that can hinder you from going after your dream of starting a small business:

1. Your Fears Are Real    

For instance, instead of believing you do not have enough money to start a business, you could instead say to yourself, “I’m willing to learn ways to find start-up funds for this new venture.”

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Instead of believing you lack the charisma or extroversion to make people work with you or attract clientele, try saying to yourself, “I’m open to learning new ways of engaging with people.”

None of those fears are reality.

To put it another way, changing the mindset you have from a fear-based one to a learner’s mindset has been proven to increase success.

For any aspiring entrepreneur, the fears that pop up in our minds are insecurities usually disguised as reality and they typically look like: “I don’t have enough money to start a business,” “I don’t know enough about business,” “I don’t have enough contacts,” or “I’m not charismatic enough.”

2. You Need Another Degree or Certification or Training

This is a big and hard myth to dispel in our status-driven world, but in order to start a business, you don’t need an MBA or an additional certification in marketing.

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Your best form of learning for your new business will be experiential – learning on-the-go – just as it has been for the rest of your life. Besides, you’re probably thinking about starting a business in a field in which you’re already familiar.

That doesn’t necessarily mean that it’s your current day job. This could also be a field in which you have a genuine interest and have read about extensively, gone to conferences for, attended meetings, etc.

Thus, you probably have more experience and knowledge about the business you’re trying to start than you initially might have guessed.

3. Everything Has to be Perfect Before You Can Start

One of the other biggest myths about starting a small business is that you need to have all of your ducks in a row. That looks like a thorough business plan, thriving social media accounts, a professional in-depth market analysis, goals, plans, teams of resources, etc. People believe that all of those things plus more have to be 100% lined up before they can start their business.

But behind that need to have everything lined up is usually a fear of failure. And that fear keeps many people from even starting down the path of small business ownership.

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Here’s a question to ask yourself: Have other people started businesses without the requirements you’ve set for yourself?

You already know what steps you need to take

Here’s the secret to performance and success: We already know what we should be doing in order to be successful.

It’s not a lack of knowledge that holds us back, it’s the continual loop of negative thinking in our minds that does.

Coach/author Alan Fine has studied this phenomenon with thousands of sports and business clients and calls it “interference.”

Essentially, his research shows that, in order to be successful, we need to get out of our own heads and find that place of effortless joy, also called “flow,” in the work that we want to do. “Flow” is defined as that sense where time flies by and you feel enlivened and energized by the work that you’re doing.

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When starting a small business, it’s important to continually seek out that place of flow in the new business that you’re building. Define what it is that you really, truly love to do and focus in on that. This helps to break to the negative feedback loop running in our minds.

Letting go of the negative thinking patterns doesn’t mean that a new business doesn’t need business plans, marketing, or clearly defined goals, but the more you can focus in on the parts of the new business that bring you joy and provide you with flow, the more you will communicate that excitement when you speak with others.

And when we get out of our own heads, then we can hone in on the answers to these forward-momentum questions:

  • How will you help others in this business?
  • Who will your ideal clients be?
  • What type of experience will you clients walk away with?

Most importantly, what’s the one step that you can take today that will put you in alignment with your dream of starting that new business?

More by this author

Erin Newman

Life Coach

starting a small business Starting A Small Business? Don’t Make These 3 Mistakes

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Last Updated on July 2, 2020

13 Common Life Problems And How To Fix Them

13 Common Life Problems And How To Fix Them

In life, we encounter problems as we breathe. But it doesn’t get to us until we feel a major impact, and that’s when it becomes a source of concern, hurt, or sorrow.

Life problems, depending on their magnitude, can be clogs in the wheel of progress, and we may not be able to attain our full potential if we don’t learn to place our problems in the proper perspectives as suggested in Robert Schuller’s Tough Times Never Last.

In this article, I have identified some common areas where you will most likely face problems as you make progress towards reaching your full life potential. I have also suggested practical approaches in handling, managing, and solving such problems.

1. Financial Crisis

We live in an uncertain world and a financial crisis may come at different stages of life. While you should always anticipate and prepare for a financial crisis, it may still catch you off guard or the magnitude may be far more than any preparation you have made over the years.

It could be that you lost your job or a major investment, got slammed with a lawsuit that threatens your savings, or have your livelihood be affected by a major disaster. So what do you do when you are in a financial mess?

Solution

To overcome a financial crisis, you will have to come to terms with the crisis. Acknowledge and accept the situation and begin recovery by setting your financial priorities right.

The next thing to do is to identify the cause of the crisis. If it’s due to a job loss, then your effort should be directed at getting a new job. If it is having multiple debts, look for ways to consolidate your debt so that your monthly debt repayment can be consolidated into one instead of being burdened with multiple payments.

You can also sell some of your assets to raise money to save the situation, or look for a better job if you are earning less at your current job. Don’t hesitate to ask for help from family and friends if you need to.

2. Health Crisis

Another major problem that might come up in your life is a health crisis. This is not far-fetched because our body systems work round-the-clock, even when we are sleeping. As a result of this, and if you don’t maintain routine health habits, health deterioration might begin to set in. Things might even get serious if you don’t attend to it early.

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Solution

When you are facing a major health crisis, the first thing to do is to consider lifestyle changes. This includes cutting down on junks, eating healthy diets, exercising, breathing fresh air, taking some sun, etc.

Apart from the lifestyle changes, you have to seek quality medical help and make sure you get different opinions about the state of your health so you can get the best affordable care.

3. Relationship, Marriage, and Family

There may not be anything as sweet as love and family life, but it can also be the source of pain for some. Human imperfections in a relationship can cause a major crisis in life. This has been a stumbling block to many on their path to fulfillment.

Solution

The best thing to do is to prevent relationship problems from happening, but if they do happen, you need to face reality and begin to take steps towards addressing them. Do your best to keep the lines of communication open as this can help in strengthening your struggling relationship. Talk about the challenges with your partner and look for common grounds.

You can also arrange to see a counselor together or read books that address the specific challenges you are facing. The worst thing you can do is to end a relationship and that’s only when you have exhausted all other options.

4. Workplace

The workplace is supposed to be a place where we dutifully render the services for which we’ve been hired.

However, it is not impossible to face animosity at work—dealing with toxic people who would rather not see any good in what you do. It might be caused by differences in background, attitudes, and unhealthy competition that can result in personal conflicts. This can create undue stress and reduce productivity.

Solution

Be as professional as possible when dealing with toxic people. Be kind and show understanding, and try to avoid personal confrontation.

You can even try to reach out to the persons and invite them over for a coffee and get to understand their worldview. This can help you to connect with them at their level so that you can avoid unnecessary stress for yourself.

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5. Career Pressure

In your quest to become more successful, you will likely encounter work-related pressure. Such can come when trying to stabilize your career or climb the career ladder. It can also come as a result of overworking and having no life. Career pressure is one of the most common life problems.

Sometimes, it may be that the promotion you are working hard to get is not coming or positions you are qualified for are being offered to others. The pressure can get more intense when you find that most of your colleagues are moving ahead of you.

Solution

Check to find if you have personal or attitudinal problems. Some attitudinal problems can put you at a disadvantaged end. It may be poor communication, poor personal grooming, or poor relationship and networking skills. If it is any of these problems, then work on improving yourself in those areas.

You can also observe your colleagues who are succeeding and take note of what they are doing differently.

6. Unfair Treatment

We are in a world where some people often think they have some privileges over others and may want to exercise this thinking and treat others unfairly. If you find yourself in an environment where you are being oppressed or treated badly because of your race, gender, or current status, this can make you feel really bad and can also affect your psyche and productivity.

Solution

There is the temptation to decry your treatment, defend yourself, and demand a change immediately, but you should really wait for the right opportunity to do that.

When the time is right, reach out directly to the person or authority involved, and make it private. Meanwhile, you should be factual about the instances of your unfair treatments. Don’t just say it that you are being treated badly; give several undeniable instances.

Once you’ve made your grievances known politely, keep being you. If things don’t change, you can cocoon yourself in that environment. If you have an option to leave, you can do so as well.

7. Emptiness and Boredom

When you are in a rut, everything becomes normal, dull, unproductive, and yet difficult to change. This can lead to feelings of emptiness and boredom. This may not seem like a serious life problem, but it can have a great impact on your life.

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Solution

To overcome boredom and emptiness, break out of your routines, and deliberately create a new experience for yourself. If you can’t leave your job to find a new one, start doing other things that reflect your true passion. Sometimes, the things that give us the needed drive in life are not our day jobs.

8. Confusion

Confusion is described as a change in mental status in which a person is not able to think with their usual level of clarity.[1]. It is inherent in forgetfulness and lack of concentration.

It can be caused by different things including medical and environmental factors. It can also be due to the experience of a loss, a heartbreak, or abuse.

Solution

Don’t allow the situation to deteriorate into something more serious. Try to snap out of whatever experiences you have had that is causing confusion. Seek medical help if necessary or talk to a psychologist.

9. Friendship Problems

We need friends in our lives to rob minds and hang out together and even help us when we run into trouble. But many people have found themselves in serious trouble as a result of the company of friends they keep. They’ve experienced jealousy, backstabbing, and betrayal of trust. Some friends have even used the information freely provided in times of friendship to betray trust.

Solution

Don’t open up on everything to friends. Keep some information only to yourself. If you notice that a friend is working against you, confront them with the truth. Limit your interaction with them or get rid of such toxic friends completely.

10. Haunting Past

We all have pasts, and we might have done some crazy stuff in the past before we begin to live a more civilized and decent life. But sometimes, the past comes back haunting. It’s even worse when life problems of the past haunt you back and become problems of the present.

It may be that what you have done is now striking your conscience, keeping you awake at night. Or someone who knows about it is trying to use it against you, and it is standing in the way of your progress.

Solution

Be true to yourself and forgive yourself. If it is an issue with another person, you can reach out to the person to settle with them. If it is a secret that is now being leaked out, own up to it, take responsibility, and move on.

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11. Safety and Security

You may find yourself in an environment where there have been unexplained murder, gun violence, police brutality, insurgencies, and other life-threatening situations. This can make you feel like you might be the next victim. What should you do in this situation?

Solution

Ensure that you watch where you go and keep your home secure. You can also get involved in a neighborhood community watch to collectively find solutions to the threat. If the situation persists, you can move to a more secure location.

12. Failure

Failure can bring disappointment and can also slow the pace of progress. But failure is also part of life, and we have to learn to deal with it. But what do you do when an experience of failure weighs you down?

Solution

You can read a book or biography to get inspired by other people’s success stories.

13. Grief

No one loves to grief but we can’t totally shield ourselves from it. The loss of a loved one is painful and, if not properly handled, can lead to an emotional breakdown.

Solution

Take your time to express emotions. You can also pen an emotional tribute to the individual. Writing can help us bring out the feelings that cannot be expressed otherwise, and it helps us breathe a sigh of relief.

You can also cope with your grief by helping them to realize some of their unfulfilled dreams or do something in their honor. Lastly, while you think about your loss, you will still have to move on, accepting the fact that life is transient.

The Bottom Line

Problems are what make life worth living. They help us adapt to become tougher as we adapt to different situations. Always remember that whatever problem you are facing has a solution or, at least, a manageable approach.

Therefore, never allow your challenges to stop you from fulfilling your true potentials in life.

More Tips to Help You Get Unstuck

Featured photo credit: Danka & Peter via unsplash.com

Reference

[1] Medicinet: Confusion: Symptoms & Signs

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