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10 Reasons You Haven’t Started Your Business and Why They’re Just Excuses

10 Reasons You Haven’t Started Your Business and Why They’re Just Excuses

Everyone dreams of being the proud owner of a successful multimillion-dollar business someday. Why you haven’t started your business today is not because you do not have an idea worth selling. You probably haven’t started your business due to one of the reasons I will outline in this post.

When you’re through with this post and you still think your reason for not starting your business is justified, then you’re just not cut-out to be a business owner.

1. Lack of Funds

Most successful companies you know of today started with as little as just their laptop and a desire to change the world. Mark Zuckerberg wasn’t the richest kid in Harvard when he started The Facebook. But he knew he was up to something big and he didn’t allow financial obstacles to stop him.

Your own is not to worry about the money. Just focus on bringing that idea out there. All you need is a perfect combination of the right marketing skills and the drive to create something that the world needs. Soon investors will fall over themselves to become stakeholders in your business.

2. You Do Not Have a Co-founder

At start, people may not believe in your idea. Convincing someone to leave their comfortable and stable 9-5 job to join you on your risky adventure to success might seem too big a chance to take. But with the right offer, and a good reason to do so, you can get your dream co-founder to become your business partner. This goes back to honing your marketing skills.

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And if you’re unable to convince anyone to become your partner, just focus on bringing your idea out to the world. As you go on running your business, you might discover you do not actually need a co-founder in the first place.

3. The Market is Too Crowded

If you’re in a business that has no competition, it probably means you’re in a business that makes no profit. If AirBnB was afraid of entering into a competitive or already crowded market, it would not have been the multibillion dollar company it is today.

When your business idea serves an already crowded market, eliminate the common solution to the problem and create an alternative to that solution. That way, you carve your own niche. That was what AirBnB did with the hotel and travel industry and it became one of the biggest name in the industry today.

Lyft and Uber entered an extremely saturated market as well. They both changed the face of the industry by using the one method I mentioned above.

4. No one believes in your dream

You do not need everyone to believe in your dream. You only need yourself to do. And if you do, then pursue your dream with all your strength. Stop looking for validation from others. Stop caring whether they believe in you or not.

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If Steve Jobs was concerned with the number of naysayers he talked about being the number one computer manufacturer in the world to, the Apple we all know today wouldn’t have existed.

5. You Do Not Know What to Name Your Company

Your business name is how your customers will differentiate you from your competitors, but you should not burden yourself with that either. If you find it hard to come up with a brilliant name for your company, you can list for the help of others.

Margot Bushnaq, CEO of BrandBucket.com says: “Most entrepreneurs struggle to find the perfect name, and often feel it’s hard to start working on the business without naming it. Thinking “lean” can help you get over that hurdle. The faster you decide on a name, the sooner you can invest your time in what matter most, your business. But keep in mind that Lean Branding is not about shortcuts or settling, it’s about being smart, streamlined, and speedy. And most of all, it’s about starting. So limit your decision makers, pinpoint your overall brand feel and start brainstorming. Once you have found a few name you like, make the final decision and move on to other tasks”

6. You Want to Start Big

Wanting to start big is one other reason you haven’t started your business. When you’re waiting till you have one million dollars in cash before you start your business, you may wait forever. No big business started big. Start with what you have and take that very first step.

Don’t be afraid to start small. Starting small is a sign that you’re courageous and that is a vital entrepreneurial asset. By taking that very first step today, you are activating your subconscious to prepare for success.

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7. You’re Afraid Of Failing

The fear of failure is the biggest reason most people do not pursue their dreams. Such a mindset will keep you from trying new things.

The fear that you’re going to fail is only an excuse to keep yourself from becoming a successful entrepreneur. You need to learn to embrace failure if you’re going to ever start a successful company. Think of the big companies of today. Even as big and successful as they are, yet they fail at many things.

It’s only by failing that we learn to improve our ideas. So if you’re not starting your business because you’re afraid of failing, you might be missing on the very opportunity to improve yourself.

8. People Have Always Mocked Your Ideas

It’s good if people have mocked your ideas before. It helps you develop a thick skin needed to play the role of a successful entrepreneur. Forget about the do-no-goods that hide their weakness by playing on that of others.

When you have new ideas and your friends or colleagues are always mocking them without giving you any constructive feedback, you know it’s time to change your friends. Don’t hold back from launching that great idea into the world for others to benefit from it.

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9. You Don’t Know What to Charge

The area of putting a price on what you’ve invented is where most entrepreneurs are constantly ill-equipped. There are several philosophies on how to price your products and inventions, but I’d advice to let that be the least of your concerns.

Start it first. Put it in the market and you will have the opportunity to adjust your price to the weather of the market. But if you keep tinkering on how to price your idea, you might end up not bringing it into light.

10. You’re Not Fully Prepared to Start Your Business

You know what Mark Zuckerberg usually says about preparation? “It’s done is better than it’s perfect”. While you’re waiting for your idea to be perfect, several others have launched the same idea and have made a lot of reiterations to it.

Stop waiting to have the perfect ideas before you start. By the time you’re waiting to perfect it, others will have started and overtaken you significantly.

Conclusion

If it’s your dream to own a successful business one day, then today is the day you should start it. Don’t wait for the big money to come. Don’t wait till it’s perfect. Just start.

What other reason is keeping you from starting your business? Share it with us in the comments below and let someone help you out.

Featured photo credit: Steven Depolo/Child Entrepreneur Lemonade Stand 50 Cents Each Qiqi Lourdie via flickr.com

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Last Updated on November 13, 2018

Do You Want to Know the Secret to Living a Fulfilling Life?

Do You Want to Know the Secret to Living a Fulfilling Life?

Don’t we all want to live a full, happy and satisfied life? For some of us, it need not be a long life as long as it’s been a fulfilling life of achievements, happiness and no regrets. But, how many of us actually go on to experience that entirely? It sometimes sounds more like a pipe dream–a fantasy rather than reality.

And then you’ll also get comments from some, saying that this ‘fulfilling life’ is only possible if you’re so rich that you don’t have to care about working, paying the bills or providing for your family. While there is some truth to that, I’m happy to say that financial freedom isn’t the only answer to living a fulfilling life.

Living a Fulfilling Life is Within Reach

Anyone can pursue a life of fullness, and it all starts with the willingness to learn. How many years has it been since you last attended a class in school? If you’re well into your adult years as a working professional, chances are it’s been a while. Do you remember the times where you had to wake up for early morning lectures? Or the times where you were rushing through a paper or project? And, of course there were the endless exams that you had to cram for.

As a young college student, I remember looking forward to the time when I would finally be done with school! No more homework, no more grades to worry about, no more stress! The learning was finally done and I could enter the working world.

Not so much!

Now that I’ve finally entered the working world, there are moments where I do wish to be a student again; it seemed less stressful then!

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There is simply so much out there that I still need to learn and experience. Yet I find myself pressed for time. With family commitments, my business and my own social life to juggle, I’ve had to keep on finding for new ways to learn and absorb new information efficiently. Over the years, I’ve found that by learning new skills and knowledge, I was able to find answers and solutions to my problems, which allowed me to achieve a greater sense of fulfillment.

Learning Never Ends

The truth is, learning never ends. Generally speaking, it is true that a formal education and the resulting qualifications are important in securing good jobs; jobs that allow you to excel, earn more and perhaps become more successful in our chosen career. But going to school is only one type of learning. All throughout your life, you’re learning in many ways. All these experiences shape and grow you into the person that you are today.

There are many opportunities to further your knowledge and develop the skills you need throughout life. Knowledge can be acquired and skill-sets can be developed anywhere. However, lifelong learning is about creating and maintaining a positive attitude to learning both for personal and professional development.

Many people overlook the fact that learning can take place anywhere and in many forms. Most would tend to think of learning as the years spent in a learning institute, which occurs mostly in their younger days. And once you go out into the working world, your ‘learning’ ends.

This is not how it has to be–in fact, lifelong learning is a gift that keeps on giving.

The Importance of Lifelong Learning

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Why is it important to become a lifelong learner?

A lifelong learner is motivated to learn and develop because they want to; it is a deliberate and voluntary act. Lifelong learning can enhance our understanding of the world around us, provide us with more and better opportunities, and improve our quality of life.

You’ll Remain Relevant in the Workplace

With advancements in society today, the human life expectancy continues to increase, which means more people are also retiring at a later age. So no matter what stage of life you’re in, being a lifelong learner brings its own rewards. It means we can get more personal satisfaction from our lives and jobs as we understand more about who we are and what we do.

This can lead to better results and a more rewarding working day in turn. Whether it’s for advancing your career, a personal interest or wanting to pursue new dreams, learning automatically pushes you forward towards progress and enhances your wellbeing.

You’ll Increase Your Earning Potential

From a financial point of view, a more highly skilled and knowledgeable worker is an asset to any company. This also leads to faster promotion with associated salary increases.

Someone who can offer more expertise will be of more value not just to employers but also to customers. Expertise is also, often, a key quality of an effective leader.

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And since you’ll constantly be accumulating knowledge, you’ll have an edge on those who don’t value lifelong learning and can’t bring as much to the table. Your extra knowledge will translate into transferable skills, which means you’ll always be primed to blow the competition out of the water.

Learning Gives You Options

Of course, one of the most rewarding reasons for continuous learning, is that it gives you options! Successfully changing career path in mid-life and spending time informally developing expertise is more common than ever, especially during rapidly changing market conditions.

Whatever your age, it’s never too late to start fresh in life. When you start educating yourself and exposing yourself to new knowledge and information, you widen your opportunities. This will allow you to do more than what you may currently be doing, or give you a way out if you’re not happy or fulfilled with where you’re at now.

Our economy is shifting increasingly towards short-term and part-time contracts with more flexible work-patterns. We have to adapt to changes going on in the work-world, make more of ourselves by stepping out of our comfort zones, and break the false ideas about our potential and how we believe life is going.

Gain More with Cornerstone Skills

You may be well into your career, but feel like somehow, something is still missing. Or maybe you’re not entirely happy with where you’re at in your career path and feel it’s time to reflect and perhaps do something new. Or you might be thinking of retiring soon, and thinking about next steps after retirement.

The learning never needs to stop!

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This can be your chance to go after a dream or interest that you’ve always had (but never had the opportunity, or time, to pursue). This could finally be the time for you to create the change that you know you should have made ages ago.

Why not take the first step to learn about 7 important Cornerstone Skills, which will help take your life to the next stage?

Whatever situation you’re in, having these 7 Cornerstone Skills will no doubt equip you to tackle the challenges of life much more efficiently. Don’t let age, your limitations or a comfort zone stop you from seeking greater rewards and self-improvement.

Transformation and change is in your hands–you have the power to make big things happen, and we can help teach you the skills. Don’t let life pass you by! It’s time to pursue a fulfilling and happy life.

Featured photo credit: Artem Bali via unsplash.com

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