I Want To Start My Own Business, But I Can’t

By:Juliette Sussman

There are so many illusions to starting your own business, but the biggest one is what people tell themselves all the time. “I want to start my own business, but I can’t.” A litany of excuses as long as a Christmas list usually follows this statement.

Top excuses people make: Number one is that they don’t have enough money and don’t see how they can possibly start a new business without a lot of cash to back them. The second one - which is very popular – is that they don’t have any really great or unique ideas. Even before it has started, the idea of launching their business is dead. Other popular excuses - I mean reasons - are that they don’t have enough time, or they could not possibly leave their current job, or they think they are not smart enough. I say excuses because that’s what most people usually make for themselves. A really laugh-out-loud funny one is that most good ideas have already been done and there is nothing unique left.

Make the dream a reality: The idea of starting a business is like a dream for people and for most, it always remains a dream that did not come true. Once your excuse mill goes into full gear, there is no way you can make a business happen. The cold hard fact is there will never be that absolutely perfect time. You’ll never have enough money, and your idea will never be perfect enough for it to warrant jumping in with both feet. If people put their energies into how they can do something instead of into why they can’t, we’d see an explosion of new businesses.

Tackle the misconceptions of starting a company: Let’s tackle of few of these excuses and quash the misconceptions most people have about starting a company. The number one excuse: “I can’t start a business because I don’t have enough money.” This statement is the most frustrating to hear. First, to run your own company you need to be very money conscious and have good financial management skills. You need to prove – to yourself or to prospective investors – that you are resourceful in putting together a business plan and/or getting a business off the ground. If you are someone in a great deal of debt and/or your finances are in a mess, let’s just say I would not invest my money in you. Get your own house in order before you begin to build a new one. If this is your first business, chances are you won’t be able to raise millions of dollars. You have no track record and no experience to date in running your own company. Although it’s not impossible to raise money, it’s extremely difficult and not something on which you can bank. Now we know that for most people that route will not work. What do you do? Read on…

Prove your model: That’s right, if you have an idea and you know how to make it work, you need to prove your model on some scale. Not only is this for potential investors, clients, and vendors; more importantly, this is for you! Don’t be conned by your own hype; that – no matter what – you have the best idea in the world and that it’s going to make you very rich. It’s OK to believe in your ideas, but you still need to test them. You need to develop a timeline and process that will enable you to see if this is worth building and one to which you’ll dedicate your life for at least the next few years. Many people take their business ideas and spend years and years wrestling with a tiger they’ll never beat.

The fact is, we start businesses to make money. If an idea hovers just above ground and gets no further, don’t throw good after bad. You want to see proof that your idea will soar. If you do not have enough savings, raise a seed round of financing from friends and family. They’ll want to see that you’ve done your homework so make sure you’ve covered all your bases before you spend yours or anyone else’s money. If you can use your own money then do so! It’s always harder to lose your own money than that of others. That means you’ll work that much harder to make your business work because you know how hard it was to earn that money in the first place. You’ll do everything you can to avoid losing that money! Many successful business people have stated that it’s when their backs were against the wall that they truly became successful. Literally, failure was not an option for them and it should not be for you.

I have no ideas: Many people are reading this and thinking, well that’s all fine if you have an idea, but not only do I have no ideas, I have no ideas on how to get an idea! Don’t panic, there are many ways you can come up with ideas. Begin by looking at things that interest you. What businesses do you see and think, “that’s a great concept” or “I love that idea!” Still no clues? Then start looking. Make a list of companies that interest you. Learn everything about them. Next, start reading trade magazines in those industries and buy books (or visit the library).

I hope you are catching on now…you need to READ! That’s right, you need to be a sponge and start reading and learning everything you can. That’s when ideas start to come. Sitting on a couch twiddling your thumbs will not encourage those ideas, so start reading, researching online, and making your lists. Trust me, ideas will come.

Now you are on your way: To make a business truly successful, you must have two main incentives: passion and curiosity. That may sound simple, but it’s a lot harder than it seems. In order to make a business successful you need to tackle it and work with it for months and even years. In order to do that you need to be really curious (to keep learning) and passionate about what you are doing. Many people become excited about an idea and then their enthusiasm fizzles after a few months. Entrepreneurs have been guilty of this, which is fine if just a few months and a small amount of money are wasted. Start with baby steps and treat your idea as if it’s a masterpiece you are creating from scratch. No matter what anyone says, that’s what it is to you. These are your thoughts and your ideas that you are taking from nothing and bringing to life. Don’t be afraid to make changes and take chances. It will be the most exciting, rewarding and freeing experience of your life!

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Article keywords: business, women in business, advice, independence

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