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Explainers - August 10, 2020

6 Reasons Why You’ve Not Become an Entrepreneur

A lot of people long for that day when they could start their own business and join the pool of thriving entrepreneurs. Unfortunately, that longing happens to be outmatched by fear and doubt if it is a move that should be taken.

There’s a lot of excuses we make when it comes to becoming entrepreneurs, nut when we example at these excuses it becomes clear we shouldn’t let ourselves be held back from reaching our potentials in business. Here are 6 key reasons why you’re holding back on starting your journey as an entrepreneur.

1. Fear of Failure

A lot of aspiring entrepreneurs don’t start at all due to fear of failure. Fear can be immobilizing, it can cause us to stop doing the things that will drive us forward to accomplish our goals. For some, failure is merely a chance to grow and learn. Not going forward because of fear of failure will cause us to miss some amazing opportunity.

2. Fear of What People Think

It turns out that in order to survive we depend on one another. So our first instinct might be concern over what people think about us. But when someone rejects your ideas or isn’t receptive to your business, it doesn’t you’re bound to fail.

You might just be in need of a different audience, a set of individuals who can understand and appreciate your business idea.

Take Jack Ma for example, before he became the richest man in China and grew his business Alibaba to great heights he suffered a lot of reject. He tells the story of the response he got from people when he set out to create a payment platform (Alipay) for Alibaba since no bank would work with him.

“So many people I talked to at that time about Alipay, they said, ‘This is the stupidest idea you’ve ever had,'” he said. “I didn’t care if it was stupid as long as people could use it.”

READ ALSO: 5 Things People with Winning Mindsets Always Avoid

3. Fear of Being Ineffective

Striving for perfection in your life and business is perfectly fine. However, the worry to be ineffective will halt your entrepreneurial journey. Instead of focusing on whether or not you can live up to your own expectations, focus on all of the unique strengths and capabilities that you have to offer. The truth is, you will always be at least a couple of steps ahead of someone.

4. Financial Insecurity

Except you’ve got a lot of savings or money for your business, going through the ups and downs of starting a business can be really stressful. If you’re taking a leap from the safe 9-5 job, the risks can be very scary.
However, it is important to trust your path and believe that the money will come when you concentrate service. Be accountable for your finances, create a budget and targets based on what you want your income to be. If you have got a strong financial base, the process would be much smoother.

5. Fear of the Unkown

People who fear to become an entrepreneur are terrified by the uncertainty that comes with it.

There is a lot of risk-taking in entrepreneurship, but if you really want success in life, you have to be able to go for it without being tied to the result. Besides, how do you know if you don’t try?

Realise that life’s going to throw you curveballs more often than not. In life the only sure thing is uncertainty. But as long as you remain resilient and move forward as best you can, you will grow, adapt and become even stronger than you used to be.

6. Fear of success

You may not think you ‘re afraid of success – but it’s actually more common than you would think. As you move forward, you’re confronted with all sorts of new challenges you’ve never met before. All the other fears that we’ve been talking about tend to get magnified as the stakes increase. When we eventually succeed, we are concerned about what will be changed in our lives.

Trust that you would rise to the challenge just as you did in the past when you worked to get your business off the ground. Develop a good team of people who you can lean on and learn from. Focus on the big things that success can offer, like financial and creative freedom. And let yourself celebrate the successes you’ve experienced! Enjoy how amazing it is to be rewarded for your hard work and passion.

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