Firstly apologies to all my readers. Like in business, life has ups and downs and I have been truly occupied with many things over the past year but I will be posting more content regularly. Expect one to two articles every month. Thank you and enjoy!
Starting a business can be a daunting task. Picture it as a blank canvas or a plain sheet of paper which you know has to be filled but the question is with what. The unfortunate reality about starting a business is that it is not like buying a colouring book which already has pictures drawn for you and all you have to do is fill it out with crayons. Very little skill is required to do this that is why anyone can fill a colouring book but very few people can draw on a blank canvas. This same very primary school principle also applies in business.
Generally speaking, 1 in every 10 people who start a business will succeed. So this means that you're already starting with a handicap. Now the question is "how?" Lots of people have great ideas but putting those ideas forward and bringing it to life is entirely a different story. Now I am no self-help business guru, nor do I have the answers (sorry Kanye 😅) but I can share with you the things I have learnt and continue to learn with each passing year and experience. Here are a few reasons people do not start businesses:
1. FEAR!
This is probably the biggest drawback that most people have when it comes to starting a business or investing: FEAR. The fear of failure is an abhorrent, evil and despicable thing when it comes to starting a business. Let me show you why:
I am positive three quarters of you reading this article can all ride a bicycle. It's something you can probably do with your eyes closed. You see any bicycle on the street and regardless where it comes from or who owns it you can hop on and take off at a moment's notice. Do you know why? It is because you were taught to overcome the FEAR of falling over. When we all start learning to ride a bicycle, usually there are training wheels attached then at a certain point the people teaching us take those training wheels off. It is at that moment that you start your journey towards riding a bicycle. We all know that you will fall in the beginning and even you yourself might know this. However once you get the balance right and the hang of it, slowly it comes to you and all of a sudden you're zooming past people on the road. Next thing you can balance with one hand on the steering. A couple of months later you're doing tricks on bicycles like never before.
Why have I used this bicycle analogy? It is very simple. Starting a business is like learning to ride a bicycle. You will start but anticipate that you will fall. There is that old cliché that goes "it is not how you fall but how you get back up". As cringy as it sounds, this is exactly what I am talking about when it comes to starting a business. LEARN TO FAIL. It is tough to hear but you need to know that it will happen. This is why we become entrepreneurs and business people so that we solve those problems that many deem unsolvable. The one thing that holds you back? Holds most of us back? FEAR! Learn to let go of your fear, over time you will get better and operating your business will become synonymous with riding a bicycle.
2. INFORMATION OR LACK THEREOF
When I was younger, my parents always told me that if something was not clear in school that I ask the teacher for clarification. We all know how it looks when you ask your teacher a question in class particularly at a young age, you look like a teacher's pet. However over time you realise that asking questions is important to enhance your understanding of certain issues pertaining to whatever it is you are learning and it is not as awkward as it once was.
Unfortunately, most people do not use this same principle when they are about to start a business. They do not do the simplest of simple things which is to ASK. A three-letter word could be the difference between a successful business and a failed attempt. ASK! My favourite author Robert Kiyosaki once stated in his book 'Rich Dad, Poor Dad' that he always sought information from someone in the field he was venturing into or experts like accountants and lawyers to get an insight on certain things relating to his businesses. This is all part of information gathering and helps you, as an entrepreneur, to have all the data needed as you make business decisions. Again the FEAR of ASKING is an enemy of progress. So learn to ask.
I will just chime in to say that you will be shocked how successful people are like a godsend of free information. So do not be afraid to approach someone especially in your industry or sector because they could give you free information which could be valuable in the long run.
3. OUTSIDE NOISE (AVOID AT ALL COSTS)
"I think that's not a good idea", "I think there is something better you could be doing", "If that was me, I would not have done that."
I am quoting the things people will tell you every time you bring up a business idea. I swear if I had a nickel for every time someone said this to me I would have been a very wealthy man.
In my personal experience, I have always relished the opportunity to prove to myself that I am an achiever. A lot of people lack that self assurance and conviction in their decisions. Have I lost money before? Plenty of times! I cannot even count the times on my one hand. Am I discouraged? No! Do you know why? Because after all is said and done I take one look in the mirror and say this is what I am going to do and that is final. Lots of people do the reverse. They get everything together and then listen to other people. I do not understand why they do this.
Ask yourself a couple of questions before you approach someone; did they do the dirty work? Did they raise the capital with you? Have they ever conducted a business? Did they think of your idea?
YOU will find that the answer to most of these questions is no. So why are YOU seeking their blessing to proceed to do something that YOU thought about?
Do not listen to the outside noise. I repeat stay away from outside noise.
CONCLUSION
My apologies for another age old adage but "Rome was not built in a day". Let go of the fear of failure and learn to ride the bicycle of entrepreneurship with all of its ups and downs. The great Leonardo Da Vinci never really finished most of his paintings because as much as he sought perfection, he never found it however the Mona Lisa remains one of the best paintings if not the best painting ever created. Open that blank canvas, start drawing up your trail of entrepreneurship because you never know where it might take you.
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