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| 5 Nagging Business Start-up Questions |
Five Nagging Start-up Questions
Facing Small Business Owners
By Dr.Susan L Reid
Starting a business from scratch is intensely creative, exciting, and
adventurous. In my work as a small business start-up coach and
consultant, I've noticed that all of my clients tend to struggle with
similar issues. Here are the five nagging questions they most
often deal with:
1. Is my idea good enough?
2. How do I obtain the money to start up?
3. Can I run a successful business and still have a life?
4. Do I have the necessary education and experience to do this?
5. What if I fail? (continued below ...)
Facing Small Business Owners
By Dr.Susan L Reid
Starting a business from scratch is intensely creative, exciting, and
adventurous. In my work as a small business start-up coach and
consultant, I've noticed that all of my clients tend to struggle with
similar issues. Here are the five nagging questions they most
often deal with:
1. Is my idea good enough?
2. How do I obtain the money to start up?
3. Can I run a successful business and still have a life?
4. Do I have the necessary education and experience to do this?
5. What if I fail? (continued below ...)
IS MY IDEA GOOD ENOUGH?
By the time you have reached the place where you are thinking
of starting up a business, you have likely accumulated a lot of
life experience. You've acquired general information and
developed expertise in one or more areas that is unique and
specific to you. While you may share similar strengths and
traits with others, in the final analysis, there is only one you.
You have a viewpoint that is distinctly yours. The world wants to
see what you have to offer and hear what you have to say!
It's impossible to know completely at the start of the journey
whether your initial idea is good enough. You simply must go
down the road, allow your idea to be tested, and see what
comes out at the end. It's the only way to discover your niche
and to know what your unique positioning in the world will be.
HOW DO I OBTAIN THE MONEY TO START UP?
Most people believe the only way to fund a start-up is through
angel investors or venture capitalists. That was never true in
the past, and it isn't true today. Yes, some opportunities require
too much capital for self-funding, but certainly not all.
When considering the difference between funding your start-up
yourself or funding it with other people's money, consider this:
An outsider who makes a large investment in your business
will usually want a say in how their money is going to be used.
The same is true for family and friends who invest in your
business. This is why I encourage my clients to get creative
and find a way to fund their start-ups themselves. That way,
they are in complete control of their success, are inspired to
become profitable sooner, and won't be spending a lot of time
answering to other people's expectations.
CAN I RUN A SUCCESSFUL BUSINESS AND STILL HAVE A
LIFE?
You bet! The key is to realize that being a small business
owner is only one piece of your total life pie. It's not the whole
pie.
Just as your business is one piece of the pie, your family is
another. Your friends, another. Other pieces include your
physical and emotional well-being, your wealth and financial
health, and your service to your community. You don't need to
juggle anything. It can all flow beautifully together, one piece
dovetailing nicely into another. This is called "having a life."
Many people think they have to give up having a life to start a
business. Sure, starting up a business takes time. It requires
focus, dedication, and energy, but not at the expense of
everything else you value and enjoy.
DO I HAVE THE NECESSARY EDUCATION AND EXPERIENCE TO
DO THIS?
As part of the start-up journey, one of the first things I address
with my clients is the belief that they might not have the
education or experience to start up a business. Most of the
time my clients come in with a great deal of experience and
education, but they don't realize it's applicable to their business
idea. By focusing on what they have done in the past, we can
quickly make a short list of what skills they might need to
develop. They can work on acquiring these skills while they are
starting up. Just because you don't have a business degree
doesn't mean you won't be successful at running a business.
Accounting can be outsourced. Teleseminars can be taken.
Books can be read. Questions can be asked. Experience can
be gained. You don't have to do it all! Whatever you don't have
right now, you can learn.
WHAT IF I FAIL?
What if you don't? What if you don't fail? What then? It is better
to have tried and lost than never to have tried at all - to
embellish upon an oft-repeated phrase by Alfred Lord
Tennyson.
Letting the thought of failure come into your mind whenever you
are embarking upon a new journey seems only natural. After
all, none of us knows if we will fail or succeed at something
new. We can, however, set the tone for success. And setting
the tone makes all the difference. Let yourself consider failure
for as short a period as possible. Then move on.
GET ON WITH THE ADVENTURE
Don't let those nagging questions stop you from starting up
your business. Instead, address each question
straightforwardly and with an open mind. Once you answer
them, you can start enjoying the creative, exciting adventure that
starting up a business was meant to be.
By Dr. Susan L. Reid http://alkamae.com/
By the time you have reached the place where you are thinking
of starting up a business, you have likely accumulated a lot of
life experience. You've acquired general information and
developed expertise in one or more areas that is unique and
specific to you. While you may share similar strengths and
traits with others, in the final analysis, there is only one you.
You have a viewpoint that is distinctly yours. The world wants to
see what you have to offer and hear what you have to say!
It's impossible to know completely at the start of the journey
whether your initial idea is good enough. You simply must go
down the road, allow your idea to be tested, and see what
comes out at the end. It's the only way to discover your niche
and to know what your unique positioning in the world will be.
HOW DO I OBTAIN THE MONEY TO START UP?
Most people believe the only way to fund a start-up is through
angel investors or venture capitalists. That was never true in
the past, and it isn't true today. Yes, some opportunities require
too much capital for self-funding, but certainly not all.
When considering the difference between funding your start-up
yourself or funding it with other people's money, consider this:
An outsider who makes a large investment in your business
will usually want a say in how their money is going to be used.
The same is true for family and friends who invest in your
business. This is why I encourage my clients to get creative
and find a way to fund their start-ups themselves. That way,
they are in complete control of their success, are inspired to
become profitable sooner, and won't be spending a lot of time
answering to other people's expectations.
CAN I RUN A SUCCESSFUL BUSINESS AND STILL HAVE A
LIFE?
You bet! The key is to realize that being a small business
owner is only one piece of your total life pie. It's not the whole
pie.
Just as your business is one piece of the pie, your family is
another. Your friends, another. Other pieces include your
physical and emotional well-being, your wealth and financial
health, and your service to your community. You don't need to
juggle anything. It can all flow beautifully together, one piece
dovetailing nicely into another. This is called "having a life."
Many people think they have to give up having a life to start a
business. Sure, starting up a business takes time. It requires
focus, dedication, and energy, but not at the expense of
everything else you value and enjoy.
DO I HAVE THE NECESSARY EDUCATION AND EXPERIENCE TO
DO THIS?
As part of the start-up journey, one of the first things I address
with my clients is the belief that they might not have the
education or experience to start up a business. Most of the
time my clients come in with a great deal of experience and
education, but they don't realize it's applicable to their business
idea. By focusing on what they have done in the past, we can
quickly make a short list of what skills they might need to
develop. They can work on acquiring these skills while they are
starting up. Just because you don't have a business degree
doesn't mean you won't be successful at running a business.
Accounting can be outsourced. Teleseminars can be taken.
Books can be read. Questions can be asked. Experience can
be gained. You don't have to do it all! Whatever you don't have
right now, you can learn.
WHAT IF I FAIL?
What if you don't? What if you don't fail? What then? It is better
to have tried and lost than never to have tried at all - to
embellish upon an oft-repeated phrase by Alfred Lord
Tennyson.
Letting the thought of failure come into your mind whenever you
are embarking upon a new journey seems only natural. After
all, none of us knows if we will fail or succeed at something
new. We can, however, set the tone for success. And setting
the tone makes all the difference. Let yourself consider failure
for as short a period as possible. Then move on.
GET ON WITH THE ADVENTURE
Don't let those nagging questions stop you from starting up
your business. Instead, address each question
straightforwardly and with an open mind. Once you answer
them, you can start enjoying the creative, exciting adventure that
starting up a business was meant to be.
By Dr. Susan L. Reid http://alkamae.com/
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