Do you have a business idea or, if you're like many people, several business ideas? Do you struggle with taking those business ideas and turning them into reality? Unfortunately, you are not alone.
While you might take comfort in knowing that most people who come up with business ideas, never act on them, you shouldn't. In fact, you should be beating yourself up over the fact that you haven't taken action on your business ideas. Below is a list of the top 5 reasons, in no particular order, people don't take action:
Top 5 Reasons People Don't Take Action On Their Business Ideas
- Lack of knowledge about how to get started
- Fear of getting started
- Lack of confidence that they can be successful
- Lack of funding
- Fear of failure or being judged by others for failing
If you can relate to any of the 5 things listed above, once again, you are in good company. Luckily, all of them can be overcome, to turn your business ideas into reality, if you are willing to tackle them head on.
Overcoming Knowledge About How To Get Started
In today's online world, you literally have no excuse for lacking the knowledge necessary to get started turning your business ideas into a fully operational business. In just a few seconds, you can Google just about any topic you need to know about and literally have the answers right in front of you. Not enough? Keep reading.
Aside from learning on your own, find a mentor. This doesn't have to be a paid coach or hired mentor. You can find someone you know in a similar business to your idea and ask them for help. Many business owners are more than happy to help others get started. Just don't ask them to do the work for you. Tap into their knowledge and show that them you are willing to act on their advice. Once they see that you are serious, you will be surprised at how much more they are willing to help you. Don't let a lack of knowledge prevent you from turning your business ideas into financial freedom.
Fear of Getting Started
You may not fully recall learning how to ride a bike but there is very little doubt that you had fear. Someone, perhaps it was a parent, was there to encourage and support you. You were scared that you were going to fall and hurt yourself but eventually you learned to ride that bike and it became something that you'll never forget how to do.
Turning your business ideas into an actual business is very similar. You have a significant amount of fear getting started because you might fall but only this time, falling doesn't necessarily result in cuts or bruises but has a chance of hurting you financially. Don't let it stop you from learning and moving forward. Successful business owners look back and laugh at their failures. In fact, many business owners have failed multiple times. It doesn't matter how many times you fail. It matters that you keep trying.
To assist in getting past the fear, surround yourself with positive people that will support your dreams and goals. There are groups online, such as the Wealth Junkies that are full of people that support each other and help each other to turn their business ideas into reality. Having a good support system can mean the difference between success and failure.
Lack of Confidence That You Can Be Successful
Depending on how you grew up and the influence that your family and friends have had on you throughout your life, you may lack the confidence to BELIEVE that you can be successful. It doesn't matter who you are, what you look like, where you live, or what type of personality you have. You can be successful, with the right attitude!
Confident people aren't a rare breed. They have simply learned differently. They have learned to be comfortable with themselves and they don't let what others think influence them in negative ways. If you lack the confidence to believe you can be successful with your business ideas, talk it over with someone you trust. Ask them to be honest with you about the positive qualities that you have that you can leverage. Don't be afraid to ask them what you need to work on and then do, exactly that. We all have things we need to work on to improve ourselves. Don't let a lack of confidence in yourself dictate your standard of living. The life of your dreams is just on the other side of uncomfortable.
Lack of Funding
One of the biggest obstacles that many believe they face is, the lack of funding to turn their business ideas into reality. It may be true that you do not personally have the funds to start your business but the funds are out there.
Put together your business ideas, do the research, speak with mentors and other business owners, then put together a business plan and approach your family and friends. You don't need to have a fancy business plan put together to approach family and friends but the more prepared you are, the more they will take you seriously.
If you don't have any family or friends with the funds to assist, you will need to look elsewhere. I suggest reading this article Getting Money To Start Your Business Isn't Too Difficult to gain additional ideas on where to get the funds to support your business ideas.
Fear of Failure or Being Judged By Others For Failing
This topic goes hand in hand with a lack of confidence but the fear of failing is actually a condition called "atychiphobia". Atychiphobia is actually defined as "the irrational and persistent fear of failure".
To get past the fear of failure, it is best to look at the worst-case-scenarios. What is the worst case scenario, if you fail. Will you lose everything? Not if you plan properly. Will you lose people close to you? Not if they support you. Will people judge you for failing? Not if they are really your friends.
You cannot let the fear of failure stop you from implementing your business ideas. The world is challenging enough. You cannot put self-limiting beliefs inside your head or allow them to control your destiny.
Surround yourself with the right people and you can overcome all of the obstacles that are currently preventing you from implementing your business ideas. Who knows, you might just be successful!
For inspiration, motivation, and interactive support, find a podcast, meetup, social network, or even some good books. Get out there and do what is necessary to get past the obstacles in your mind. Starting a business can be an extremely rewarding experience.