Many people dream about starting their own business but never quite get the ball rolling. It’s really easy to come up with excuses, many of which appear to be completely valid but some of the most common reasons for not branching out on your own are easier to surmount than you might think.
The financial impact of starting a business can be daunting but there are plenty of options out there that offer guidance and funding for start-ups to help you get on your way without having substantial cash reserves of your own. One option is to look for ‘angel’ investors, friends and family who can contribute to the business. You can also try crowd funding, an increasingly popular method for fundraising, through platforms like Kickstarter and Gofundme. Other options for financing your business are the Prince’s Trust, Business Gateway, Entrepreneurial Spark, Scottish Enterprise; each of these organisations not only has the ability to provide funding but can give you information and sometimes even mentorship.
There’s no doubt that getting a business on its feet can be stressful and time consuming. Feeling like you don’t have the time in between work and family commitments is a stumbling block for many budding entrepreneurs. Making sure you make the most of how you spend your time can eliminate this to a significant extent. Prioritise your free time to take constructive steps to develop your idea and put your plans together. Allocate a portion of your time each day to your new venture, stick to a plan to help you stay focused.
A lack of experience in management often puts people off a new venture, or doubts about their ability to be a good boss. From the initial idea, to the operation of your business, confidence is important. It’s much easier to talk yourself down and convince yourself you can’t manage a team. Don’t make that excuse, developing managerial and leadership skills happens through experience, you’ll be amazed at how well you can guide people when you believe in an idea. Remember you don’t have to do it on your own; many of the operational aspects of your business or time consuming projects can be outsourced. This allows you to spend more time concentrating on advancing your leadership skills through hands-on experience and evolving your techniques and enhancing your company.
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