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Why Am I Afraid to Start My Own Business?

If you’ve always wanted to start a business but haven’t quite made the leap towards doing so, you’re not alone. There could be many things standing in your way, but there are a few common ones.

You can’t decide on a clear niche

Many people have a vague idea, such as going into the restaurant business or online selling, never get further than that. They often hope a clear idea of what they want to do will come to them naturally. This means they never make any move towards achieving this goal because the goal itself is unclear.

One key part of making a business a success is to be passionate about the product or service you’re providing. Without a clear passion or goal, it’s hard to get going and have a focus.

So, take some time to think about what areas in your life could use a business like yours? What problems can you solve? What do you dream about doing in your spare time? Try to get as specific as possible while brainstorming because that direction will help you get started.

You’re afraid of failing

This is probably the top reason why people don’t get started in business. It’s common, even in those who do go ahead and start a business because failing is, unfortunately, a possibility.

There comes a point where you have to wonder whether you will regret not going after your dreams and taking a risk. Things could go wrong but at least you tried. You never know, it could all work out.

One way to combat this fear is to get prepared and do your research. The more knowledge and experience you are armed with the better prepared you will be to avoid common mistakes or pull yourself out of difficulties.

You don’t have the time to get started

Not having enough time is commonly cited as a reason why people don’t get started. With the media telling us we need to save time for exercise, meditation, reading, family and friends time, childcare, cooking, cleaning, eight hours sleep, AND a day job – where do you fit in running a fully-fledged business?

A lot of people get around this by quitting their job and starting a business but most of us can’t afford to do so. That leaves the spare time you have left over from everything else to start your business which can be a struggle.

In this case, you need to prioritise and accept that you can’t do absolutely everything, at least not every day. You may have to give up a couple of things and ask others for help to take the load off to free up some time.

There will never be a perfect time to start!  You have to carve out that time, and be strict with yourself.

You’re on your own

A lot of businesses start off as one person working solo from their spare bedroom but this doesn’t work for everyone. Some people need mentors, colleagues and partners to help them get a business off the ground.

If there’s no one around who could help, it might be worth joining community business groups or networking events either in person or online.

The other thing to remember is that going it alone may not be such a bad thing. If it’s fear holding you back, then it’s time to come up with a solid plan to get your business off the ground. A helping hand can work wonders but you could try and get started on your own first. Many people do.

Find out how Pandle can help make running your business simpler! View the features, or use the Live Chat button to talk to one of our support team.