Wantrepreneur to Entrepreneur: What’s Holding you Back?

Imagine going on vacation whenever you want.

Imagine taking your child to the doctor without asking permission.

Imagine being constantly interested all day long in the topic you are working on.

Imagine knowing exactly the financial state of your source of income and never being surprised by a layoff or cutbacks.

Where is this magical world of work? At your fingertips…

Starting your own business has always been about freedom, control and doing something you really want to do. People who are planning to go out on their own envision a world where they make all the decisions, and set a schedule to match the lifestyle they want.

More than half of all Americans want to start their own business, according to a Gallup survey. But only fourteen percent are starting or running their own business (Global Entrepreneurship Monitor, 2015 study). So why the disconnect?

Are you one of the around 40% of all working age Americans who feels the desire to start a business, but you do not know how to get started? Maybe you did a little research into the field of your choice, maybe you even bought a cool domain name, and then nothing happened afterwards.

You have business ideas in your head, but you do not see a clear path for taking action. Maybe you have had ideas in your head for years. But you’ve also had all of life’s challenges setting you back. Perhaps, you have been paralyzed by procrastination. And if so, you may want to think about a system to get you beyond your thoughts about business ideas towards actually creating your real-live business.

 

Time

New entrepreneurs need time to work on the business. And this is where many people stop thinking about their idea. They do not see where they can find the time to do all the activities that need to be done to make the business a reality. Depending on the enterprise, an entrepreneur may need to do research on the business activities, determine how production will take place, and even decide on real world or digital locations. Getting this work done takes time and knowing how to find the time is critical to getting the business going.

To find the time you want, start by identifying how you spend the time you have. Take your morning activities. Do not focus on the big steps like eating breakfast, but look at the activities you do around the activity of eating breakfast. How do you prepare your meal? Do you keep the kitchen organized so you can find the utensils you need? Or are you scrambling (no pun intended) each morning to put together food to eat.

If you are frazzled by your morning routine, you probably need to spend time to fix your time. Skip one hour of video watching to arrange your kitchen into an efficient set-up that works the same way each day. Take thinking out of your morning breakfast routine. Organize kitchenware, utensils, and even the food in the fridge into sections reflecting how you use the items for each meal. Eat the same food every morning. Boring! Not if you choose wisely and select the foods you enjoy.

This is just an illustrative example of the actions you could take to give yourself more time, and use the time to work on your business activities. The point is to maximize every minute you have by compressing the time you use doing routine tasks, and focusing on saving those minutes to work on your business activities.

 

Delay Mistakes

Did you ever have the sensation of seeing a functioning business that seems to be exactly like one you had thought of on your own but never implemented? That’s what happens when you delay your dream. If you have a great business idea, someone else might come forward and launch it because you keep delaying starting your own business.

Fearing your own idea is one of the critical delay mistakes entrepreneurs can make. But you came up with the idea because you saw a gap in the marketplace or economy, and you thought there would be a market if the gap were filled. Stick with your vision. Sometimes the fear about your own idea comes from others who claim your idea is not viable. How would they know? Did they try to start a business with the idea? You have to make the effort yourself and let the idea prove itself in the free market.

Sometimes you do not get started because you think the day, season, or alignment of the planets is not right. There is no perfect day to start a business. You cannot predict activities in the greater world, but you can set a date and run with it. If things go badly the day you launch that does not mean you have lost your only chance. If your business idea works, the customers are on their way.

Maybe you’re delaying because you claim you do not have the money to start. But do you know how much money you need to get started? How about nothing, zero dollars, nada, $0. Why? Because there is a lot of upfront work you can be doing, with all the time you found doing the practices above, that will help you get your business started. Saying you cannot start your business until you are in front of investors with a proposal for a multi-million dollar loan is probably not the vision you want to use to encourage you to get moving. Start with the earliest steps you have to take to set the business up. You can find the money in the money you already have to get the ball rolling.

 

Plan

Plan the business, not the business plan. Unless you are talking to third parties already, you do not need a business plan. The task of writing a business plan is one of the greatest show-stoppers for hopeful entrepreneurs. The content is daunting – marketing analysis, management structure, legal paperwork, product viability; and has nothing to do with actually getting your business off the ground.

When was the last time you read a story about one of the world’s great business founders, which began “first I wrote a business plan?” The fact is striving entrepreneurs start the business, not the paperwork. Focus on planning the actual activities you need to take to get the business started. You need to think about your location – physical or online, production of your product or service, how you’ll get to customers, and how you’ll get paid. This work also costs zero dollars, zilch, nada, $0. And you can start anytime using the time-finding practices in paragraph one. Once you do this you will have a much better idea of your entire business – including how much money you may need, which will then determine if you really need a business plan.

You can get to the professional and lifestyle freedom you want by focusing on the steps that matter for starting a business.

  1. Find the time you need by looking at the activities you do in the day and squeezing out efficiencies in your routine tasks.
  2. Do not delay. You have a good idea, there’s no perfect day to launch, and you can get started on business set-up activities with the money you already have.
  3. Plan the actual business – the steps you need to do to move forward. Do not write a business plan. Figure out how you would set-up the business tomorrow if you had all the resources in place.

If you found this information interesting, and would like to know more. Check out FREE TRAINING on these topics at https://readyentrepreneur.lpages.co/wantrepreneurs-start-your-business/, and let’s get to work on launching your business.

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