With the free connection, resources and content available through social media and the web, anyone that has the dream of becoming an entrepreneur can go to the market. However there are thousands, maybe even millions of people who dream of being entrepreneurs, have good ideas and still never take the next steps necessary to make that dream a reality. And I began to ask why? I found out that there are lies, misconceptions and baseless excuses why some people never take the necessary actions to actualize their dreams. Here are the 10 most common excuses of wannabe entrepreneurs I found that hold down people from living out their dreams of becoming an entrepreneur.
I CAN’T LEAVE MY JOB
Yes you could have a good job, and might be the only one supporting your family financially. And you are worried about what could happen to your family during the incubation period of your business. You are so scared of the unknown, if this is the case, consider starting a side business while you keep working at your full time job, sure it will mean additional hours and extra stress. This will help you stabilize while you grow your enterprise beyond the incubation stage.
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I’M NOT GOOD ENOUGH TO BE AN ENTREPRENEUR.
There’s a common misconception out there that entrepreneurs are “born” to be entrepreneurs, or that successful entrepreneurs have some essential genetic quality that makes it possible for them to succeed and stifles the progress of anyone else. This simply isn’t true.
There are some factors that make it easier for people to transition into an entrepreneurial role, such as high enthusiasm, extroversion and a tendency to attack problems head-on. However, these can all be learned, mimicked or substituted by people who don’t exhibit these qualities naturally. In short, you can be as good or bad an entrepreneur as you want to be — you just have to do a little work to get there.
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I DON’T HAVE ENOUGH FUNDING.
Businesses need capital to succeed, but that doesn’t mean you have to front all the money yourself. As a first measure, you can draw investments from your friends and family members. Beyond that, you can scout for potential angel investors or venture capitalists in your area. If your idea is solid, they’ll be thrilled to back you. If that doesn’t work, try crowd funding (assuming your business qualifies), and even if all of those methods fall through, you can secure a line of credit with a bank (assuming your business plan and personal credit check out).
4. IT’S NOT THE RIGHT TIME.
This is a vague excuse that can apply to anything. Maybe you just bought a house. Maybe you just had a kid. Maybe you’re trying to transition between careers. Whatever the case, the timing isn’t perfect to allow you to become an entrepreneur.
But guess what? There’s no such thing as a “perfect” time. Nobody became an entrepreneur because all the stars aligned for some magically “perfect” opportunity — they knew the risks, knew the obstacles and moved forward in spite of them. If you’re waiting for some perfect moment, stop — now’s as good a time as any.
5. I’M WORRIED I’LL FAIL.
This is one of the most common — and most crippling excuses — but it has no logical bearing to hold you back. Yes, there’s a strong possibility you’ll fail — most startups eventually close their doors in the first two years. The question I pose to you is: So what? There’s no shortage of breakout success stories of entrepreneurs who first overcame a crushing failure. In fact, many credit their success to the hard lessons learnt on initial failure
If anything, failure is just a mechanism for you to gain experience, insight, and eventually come out on top. Nobody particularly enjoys failing, but there’s no reason to build it up in your head as some life-ending event. Dismiss the stigma, and accept it as a tolerable reality.
6. I\’M TOO OLD OR YOUNG
Ronald Reagan was 69 when he was sworn in as president. In fact, while debating for his second term for president, he told the moderator, \”I am not going to exploit my opponent\’s youth and inexperience.\”
For those who think they are too young, I was 21 years old when I started my business. Age doesn\’t matter, unless you think it does. Most people let others tell them that they are too old or young. This excuse only leads to other excuses.
7. I DON\’T HAVE THE HEALTH
I\’ve heard people with asthma tell me, \”I can\’t lose weight because of my asthma.\” However, it\’s not their condition that stops them, it\’s their limited mindset. Stop telling yourself that you have a bad back. Affirm your health in a positive way instead.
Helen Keller was blind, deaf, and speechless, yet she was able to make her mark in history. Franklin Delano Roosevelt had polio and was still able to run for three terms during the biggest depression in American history. You can do anything if you put your mind and heart to it.
8. I DON\’T HAVE ENOUGH TIME
People who \”don\’t have time\” generally don\’t want to make out the time. They want the success, but they won\’t make it a priority. We all have time to make it happen. What these people are really saying is that they don\’t know how to get started.
All it takes is a few hours of study and application to get started. If you don\’t have one hour each day, you don\’t have a life. If you make time for your dream, the puzzle will work itself in order. Most people are preparing to get prepared, but they rarely end up doing anything because it\’s too late.
9. I\’M NOT THE RIGHT SEX OR RACE
Many women still believe that there is a glass ceiling. Some minorities also feel like they are still enslaved. However, Oprah said, \”Excellence is the best deterrent to racism and sexism.\” Truly, the universe doesn\’t care what race or sex you are. All it wants is your best efforts, which is the usage of your genius.
10. I\’M NOT EDUCATED ENOUGH
I always hear people telling me that they can\’t get started because they don\’t have a college degree. Many of us have been brainwashed into believing that we have to \”go to school and get a job.\” Because of this, people disable themselves from a race that they could have won.
These people think that everyone in the world are two times smarter than they are. What they really need is to believe in themselves. We are all smart enough. In fact, we are geniuses. Each of us needs all of us and all of us need each of us. If we found a way to apply our geniuses, there\’s no telling how far we could go.
Once you learn to recognize these statements as what they are — mere excuses — you can look at your situation more practically and logically. Yes, there’s a lot of risk in becoming an entrepreneur. Yes, it’s scary and demands a lot of hard work. But if it’s what you truly want in life, these fears shouldn’t be enough to stop you. There are ample resources and opportunities for you to take your ideas to the next level. All that’s left is for you to take them!