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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
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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.

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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 July 21, 2021

The Importance of Reminders (And How to Make a Reminder Work)

The Importance of Reminders (And How to Make a Reminder Work)
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No matter how well you set up your todo list and calendar, you aren’t going to get things done unless you have a reliable way of reminding yourself to actually do them.

Anyone who’s spent an hour writing up the perfect grocery list only to realize at the store that they forgot to bring the list understands the importance of reminders.

Reminders of some sort or another are what turn a collection of paper goods or web services into what David Allen calls a “trusted system.”[1]

A lot of people resist getting better organized. No matter what kind of chaotic mess, their lives are on a day-to-day basis because they know themselves well enough to know that there’s after all that work they’ll probably forget to take their lists with them when it matters most.

Fortunately, there are ways to make sure we remember to check our lists — and to remember to do the things we need to do, whether they’re on a list or not.

In most cases, we need a lot of pushing at first, for example by making a reminder, but eventually we build up enough momentum that doing what needs doing becomes a habit — not an exception.

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From Creating Reminders to Building Habits

A habit is any act we engage in automatically without thinking about it.

For example, when you brush your teeth, you don’t have to think about every single step from start to finish; once you stagger up to the sink, habit takes over (and, really, habit got you to the sink in the first place) and you find yourself putting toothpaste on your toothbrush, putting the toothbrush in your mouth (and never your ear!), spitting, rinsing, and so on without any conscious effort at all.

This is a good thing because if you’re anything like me, you’re not even capable of conscious thought when you’re brushing your teeth.

The good news is you already have a whole set of productivity habits you’ve built up over the course of your life. The bad news is, a lot of them aren’t very good habits.

That quick game Frogger to “loosen you up” before you get working, that always ends up being 6 hours of Frogger –– that’s a habit. And as you know, habits like that can be hard to break — which is one of the reasons why habits are so important in the first place.

Once you’ve replaced an unproductive habit with a more productive one, the new habit will be just as hard to break as the old one was. Getting there, though, can be a chore!

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The old saw about anything you do for 21 days becoming a habit has been pretty much discredited, but there is a kernel of truth there — anything you do long enough becomes an ingrained behavior, a habit. Some people pick up habits quickly, others over a longer time span, but eventually, the behaviors become automatic.

Building productive habits, then, is a matter of repeating a desired behavior over a long enough period of time that you start doing it without thinking.

But how do you remember to do that? And what about the things that don’t need to be habits — the one-off events, like taking your paycheck stubs to your mortgage banker or making a particular phone call?

The trick to reminding yourself often enough for something to become a habit, or just that one time that you need to do something, is to interrupt yourself in some way in a way that triggers the desired behavior.

The Wonderful Thing About Triggers — Reminders

A trigger is anything that you put “in your way” to remind you to do something. The best triggers are related in some way to the behavior you want to produce.

For instance, if you want to remember to take something to work that you wouldn’t normally take, you might place it in front of the door so you have to pick it up to get out of your house.

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But anything that catches your attention and reminds you to do something can be a trigger. An alarm clock or kitchen timer is a perfect example — when the bell rings, you know to wake up or take the quiche out of the oven. (Hopefully you remember which trigger goes with which behavior!)

If you want to instill a habit, the thing to do is to place a trigger in your path to remind you to do whatever it is you’re trying to make into a habit — and keep it there until you realize that you’ve already done the thing it’s supposed to remind you of.

For instance, a post-it saying “count your calories” placed on the refrigerator door (or maybe on your favorite sugary snack itself)  can help you remember that you’re supposed to be cutting back — until one day you realize that you don’t need to be reminded anymore.

These triggers all require a lot of forethought, though — you have to remember that you need to remember something in the first place.

For a lot of tasks, the best reminder is one that’s completely automated — you set it up and then forget about it, trusting the trigger to pop up when you need it.

How to Make a Reminder Works for You

Computers and ubiquity of mobile Internet-connected devices make it possible to set up automatic triggers for just about anything.

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Desktop software like Outlook will pop up reminders on your desktop screen, and most online services go an extra step and send reminders via email or SMS text message — just the thing to keep you on track. Sandy, for example, just does automatic reminders.

Automated reminders can help you build habits — but it can also help you remember things that are too important to be trusted even to habit. Diabetics who need to take their insulin, HIV patients whose medication must be taken at an exact time in a precise order, phone calls that have to be made exactly on time, and other crucial events require triggers even when the habit is already in place.

My advice is to set reminders for just about everything — have them sent to your mobile phone in some way (either through a built-in calendar or an online service that sends updates) so you never have to think about it — and never have to worry about forgetting.

Your weekly review is a good time to enter new reminders for the coming weeks or months. I simply don’t want to think about what I’m supposed to be doing; I want to be reminded so I can think just about actually doing it.

I tend to use my calendar for reminders, mostly, though I do like Sandy quite a bit.

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Featured photo credit: Unsplash via unsplash.com

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Reference

[1] Getting Things Done: Trusted System

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