We’ve shared the signs you are ready to start your own business in the article Becoming a #GirlBoss: 6 Signs You’re Ready to Start Your Own Business, and we’ve shown you the necessary steps for starting a business in the article Finance 101: Starting a Business. Now, the CGS Team is sharing 8 lame excuses for not starting a business. If any of the 8 thoughts have crossed your mind, they are not justified! Start the year off with a new mindset and no more excuses! If you have a great idea, start planning! The best time to start is now.
I Don’t Have Money
While it’s true that you do need some money to start a business, you don’t need to be rich to do it. You will need to pay for your company filing fees, start-up costs, and other fees, but this doesn’t require thousands of dollars.
In fact, depending on the type of business you want to start, you don’t even need to quit your day job. Most new business owners work on their business after they finish their day job. Put in the work and the money will come with it.
I Don’t Have Time
The reality is that people make time for what they want, and make excuses for what they don’t want. Saying that you don’t have time to start your own business is basically saying that you don’t want to start your own business. If you really want to do it, you will make it happen. You will never have enough time, so work with what you have!
It’s Too Risky
Yes, starting a business is a risk. But ask yourself this, is the reward worth the risk? Most often than not, the answer will be yes. You may be risking your free time, your start-up costs, and pushing your limits, but that’s what it takes to be successful. Even if your business doesn’t take off initially, that doesn’t mean you can’t make some changes and get back to it. The only risk here is not taking the risk!
There’s Too Much Competition
News flash, there will always be competition! There is competition in your current job right? People applying for the same position, co-workers requesting more projects, and more. You compete there, so why not compete in the business owner realm?
Your competition is mostly like large corporations and other start-ups. You aren’t ready to compete with large companies, and other start-ups are probably just as worried. If you have the right product or service, there’s plenty of business to go around.
The Timing Isn’t Perfect
We love this quote from David Wellman, CEO of start-up Absolute Convergence, “Waiting for the perfect time to make the jump is usually futile, for there’s no moment, that’s truly perfect. So even if you’re early in your corporate career, when a winning new-business idea comes along and sparks an entrepreneurial passion in you, carpe diem.” Need we say more?
I’m Too Late
So what if someone is already using your idea for their business? If you can make it better, faster, cheaper, or more interesting, then you’re not too late. A perfect example is social media. First it was MySpace (or whatever may have come before that?), then it was Facebook, then Twitter, then Instagram, then TikTok.
With this pattern, there will likely be another popular social media platform. Each are different in their own way, but each are successful. You are not too late.
I Don’t Know How
What does anyone do when they don’t know how to do something? They learn! There are plenty of resources, including the Business articles on City Girl Savings. Do your research and learn what you need to do to start your business. The “I don’t know” excuse is definitely unjustified. CGS Founder Raya Reaves also has a business coaching program – check it out!
It’s Too Hard
Of course it’s going to be hard. If starting a successful business, or any business for that matter, was easy then everyone would be doing it. You have to be willing to face the challenges that come with starting a business, because there will be some. That doesn’t mean it can’t be done and that you can’t be successful.
Think of the worst case scenarios and then think of ways your business can work around them. Steve Jobs wasn’t worried about how hard he would have to work when the idea for a computer came to mind.
Well that’s it! If any of the excuses above are stopping you from taking the leap of faith to start a company, you need a wake-up call. You will never know how great everything can turn out if you don’t go for it. Considering starting a business? What’s stopping you? What challenges did you face when you started your company? Share your thoughts by leaving a comment below.