Overcoming the 6 Biggest Fears of Business Ownership

1. Sailing the Ship Alone 
 
I'm sure you have seen the Honest cleaning products in recent commercials, but did you know Jessica Alba, famous actress, founded it? During the 2015 Forbes Women Summit Jessica commented on how people saw her as only being capable of acting or endorsing products, not creating them when she commented, "It took three and a half years of condescending nods and pats on the back of 'good luck,' or 'go back to endorsing things' or 'go do a perfume'." Had she decided to rely on any fear-based assumptions that she wouldn't be successful because of non-support, she probably wouldn't now own a billion dollar company. What she did do was seek out business people and manufacturers that could help make her dream come true.

2. Not Being At the Master Level 

Whether you think you're not good enough at your craft to start your business, or that your product or service isn't at the professional level of others in your line of work undermines your goal of business ownership. Start small with your best item and improve upon it over time while continuing to introduce new items or services. All start-ups experience learning curves. Progression leads to perfection, most businesses don't start at the top.

3. Not Knowing Where to Start 

There are so many people that want their own business but just don't know where to start. They look at others successes and feel defeated before they begin. Instead, follow those you admire who are doing what it is you want to do. Read up on them. Research their beginnings or better yet, reach out directly via Twitter, Facebook or see if they will do a Skype interview.

4. Fear of Failing 

We all fail, but the key is getting back up and dusting your self off. It took Thomas Edison 1,000 unsuccessful tries to invent the light bulb, but he pressed on and didn't give up. He's been quoted as saying, "I didn't fail 1,000 times. The light bulb was an invention with 1,000 steps." "Great success is built on failure, frustration, even catastrophe." What tenacity, what great faith he possessed!

5. Not Attracting Enough Loyal Customers 

It's common to think, "What if people don't buy my product or value my service?"
Being in business for your self is a risk, but seasoned business owners wouldn't have it any other way. Keeping a job is a risk. Focus on delivering exactly what you are promising and overtime the customers will come.

6. Not Having Enough, or Running Out of Money 

I'm willing to bet that almost everyone would be a business owner if all it took were to walk into the bank and say, "Show me the money," and the banker hands you a check for $100,000 and no terms for the payback. But, it doesn't work like that and entrepreneurs oftentimes use their own savings or depend on friends and family members to finance their business ventures. Losing a close friend or family member's money can be scarier than defaulting on a bank loan. If personal investment loss is stopping you from starting your business, consider alternative funding, like business credit cards. The application and qualification process is less stringent from traditional banking, and you can get a funding estimate within 24 hours of applying.

In Conclusion 

Being an entrepreneur isn't just for the courageous. It's for those who are willing to embrace their fears and work through them. Knowing that obstacles lie up ahead, but victory, aka the sweet spot, is just a round the corner on the road to success.

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Article Source: https://EzineArticles.com/expert/Janine_Herrera/2328775

The Six Pronoun Factors of Building a Business From the Scratch

To start a business you need to put a whole lot of factors into consideration. Business ideas are often spontaneous! When it comes to implementations, often also, a great lot of businesses crumble like a pack of game cards. Dreams do not make cash; they form the bases for the realization of economic prosperity. It is the implementation of these dreams that make the cash.

Let us take some insights into building businesses from the scratches. The factors that must be taken into cognizance are going to be discussed. These factors are termed "the six pronoun factors", because they are woven around the six special pronoun words.

THE WHY FACTOR: All businesses have the "why factor". What is the reason why a business is being started? This is the first question an entrepreneur must ask himself or herself. Is the endeavor borne out of a passion or need for survival? The former is not usually common, but the latter is usually the "why factor" of a variety of businesses. In this part of the world-sub-Saharan Africa, businesses are started in order to get rid of hunger.

That is, then, the reason why, again, that these businesses would collapse, once the reason is achieved. However, many businesses started on passion are enduring and lasting. Check out your "why factor" and set your mind and priorities right first before dipping your legs into the ever demanding business waters. Passion provides better and stronger driving force than hunger does.

THE HOW FACTOR: Take the "how factor" serious. What is the "modus operandi". That is, how do you want to go about starting the business and putting it into operation? The process of implementing one idea is generally different from another. You must understand how you do things. Learning from other people already in the business before starting yours is a good step.

Also observing events around you, whether it is for your choice of business or not, is another very good way to string things together. Know that you will make mistakes, and possibly fail initially. If the "why factor" is passion, then you will find enough inspirations to move, or otherwise, you live or jump ship.

THE WHAT FACTOR: The "what factor" is all about the article or item of trade. What exactly do you intend to trade in? Is it a service or a commodity? These are the two main articles of trade: a service or a commodity. Deciding on what to trade in is seriously dependent on your passion and vision. You could get an idea of what sells or not, but such is should be part of the "why factor". Without any doubt, there is no business without an article of trade. Make your choice very well.

THE WHICH FACTOR: The "which factor" is a probing one. Which means which way do you intend to get things running? The means is as significant as other factors. Is the business capital intensive or needs just a little of capital? Whichever of the two, you need to determine which way you will have to finance. Small business will require just little or nothing at all to start. Big businesses are very demanding and require large starting up capitals. Which way you do it is of serious concern; there is no business without capitals.

THE WHEN FACTOR: Check out the "when factor". Some articles, commodities or services are suited for one season than the others. The "when factor" is the time factor: the season factor. This factor is as paramount as any other, in starting businesses. Even many businesses are noted to thrive better in one season than the others. So, when you want to start your business, know what time will be better to do that. You do not go selling iced cold water in raining season, just as you do not sell sweaters in hot weather.

THE WHERE FACTOR: The "where factor" is all about the location. Location is a major factor in production; same as most other economic and commercial activities. Choose a good location that will work well for your article, commodity or service. So much had been learnt about location and its importance in series of classes on commerce and trade. So there is no gainsaying the fact that you must put the "where factor" into significant consideration. Any wrong choice here can seriously affect the business and the psyche of the entrepreneur.

Article Source: https://EzineArticles.com/expert/Akanji_G_Olaniyi/2236351