Thursday, July 18, 2024

Starting A Business Can Change Your Life… So Why Are You Making The Same Old Excuses?

July 15, 2019 by  
Filed under Business, Money, Opinion, Weekly Columns

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( You’ve reached the end of your tether. You’re slowly coming to the realization that all the big talk your employer gave you when you first started was just that… Big talk. Sure, they talked a great game when it came to discussing the ways in which they’d develop your skills and help you to take the next step in your career. They used all the right words like continuous professional development and generous incentive scheme. But years later, here you are, right back where you started. You’re still overworked, underpaid and underappreciated… So, girl, why are you still there?

You know that you have a great idea for a business. You’ve even cobbled together the rough outline of a business plan. It’s been sitting in your desk drawer for so long, you’ve almost started to forget it’s there… Almost. Maybe it’s time that you took a leap of faith in yourself and took some serious steps towards making it happen. 

And stop using those same old excuses like…

But I have kids!

That’s okay! It’s a common misconception that startups are always founded by carefree twenty somethings with no family commitments. Many entrepreneurs are parents. In fact, it’s arguable that being a parent makes you a better entrepreneur. It teaches you incredible time management skills, excellent communication skills, flexibility, a sunny outlook and, above all, patience! These are all common characteristics that make great parents and great entrepreneurs.

But I can’t do everything myself

You’re right there. Nobody would expect you to. Even the smallest businesses rely on a support network from the company that provides their IT and Phone Solution to the guys who oversee their digital marketing efforts. Not to mention the stellar team of people whom they employ. Indeed, it’s only when they try and do everything by themselves when entrepreneurs burn out at the expense of their businesses and their own personal health.

But what about my work / life balance?

This can certainly be tricky when you run your own business… But it’s hardly much more of a risk when compared to working for a company. In fact, the more you trust your employees and entrust them with the daily operation of your business rather than micromagaing them, the easier it is to reclaim your work / life balance. 

But where will I get the money?

This is a very common cause for concern among would-be entrepreneurs. They worry that in a post-crisis economy, banks are still reticent to lend to new businesses especially those with no track record like yourself. However, while banks can still be skittish about business lending even over a decade after the financial crisis, that doesn’t mean that you can’t get the funding to get your startup off the ground. There are many, many alternative lenders who are happy to lend to new business at reasonable rates of interest.

But what if I fail?

Failure is always a possibility. But many find that failure in their first business makes them infinitely more successful in their next. At the very least, failure should never be used as an excuse not to try.

Staff Writer; Natasha Poole

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