There really are several reasons why new business owners struggle to get their business off the ground but ten primary reasons involve the issues listed below.
1. No one wants to ask for help.
Asking for help is one of the most difficult challenges you will face. We all like to think we know it all; we don’t. I learned years ago two heads are better than one and if you add someone who is an expert in their field it just gets even better.
2. Indecisiveness
Make a decision and stick with it. Should your decision pan out to be the wrong one, suck it up and make another decision. It also helps if you put your ideas on paper and think through your actions prior to making a decision. Dare I say 2010 will not be the year for impulsive behavior.
3. Alleviate a lack of confidence once and for all.
There is nothing on the planet worse than thinking you are not worthy or cannot fulfill your dreams. Television and movies, documentaries and “living in the now” have all made it appear that stuff just happens. Stuff does not just happen. and if you think you can’t you won’t, if you think you can you will. Period! Now, finish reading this Blog and start living your dream!
4. Fantasizing that you have the Benjamins when you don’t.
All business owners start out thinking they can do this and that with a limited budget or using the great American credit cared; stop it. Start small, really small, be humble, get real and do what you can until you can do it the way you want. Don’t let friends, family and customers tell you different. Your business will grow and you will offer those wonder products in lovely boxes with ribbon and gold leaf, just not today. Slow and easy wins the race.
5. Avoid credit at all cost.
If you can do what you do without borrowing money and using credit, do it. If you can’t, save your money and then do it. Today using credit is a dangerous act liken to committing a felony.
6. Learn about the Market Trends in your industry.
What is happening in your industry? Do you know? Do you care? You better. Anyone in business today should be reading trade magazines, following the tracks of competitors and learning all they can about their industry and those industries that support their industry. We live in a global world and your competition can literally come from the ashes.
7. So you didn’t see it coming.
The fastest way to go out of business or never get your business off the ground is to, not see “it” coming. Read, read, read; travel, go to trade shows or purchase trade magazines but don’t fail because you didn’t see ” it” coming.
8. Who keeps the books? Cha-Ching!
You don’t like handling the bookkeeping responsibilities. You let your teenage son play around with Quicken? You don’t have time to address all those financial issues, you’ll get to it this weekend? Okay, “you are the weakest link.”
9. What’s in a personality?
There are times when a personality can take you further than your product. What’s in a personality? Today, everything! Folks are just fed up with the greed driven “Matoff’s” of the world. What happened to “honest Abe”? Oh, he died. Can we talk resurrection?
10. Ask and you shall receive.
You are entitled to proper compensation for your products and services, but if you don’t think so…well I can only leave you with this!
I BARGAINED WITH LIFE FOR A PENNY
I bargained with Life for a penny,
And Life would pay no more,
However I begged at evening
When I counted my scanty store.
For Life is a just employer,
He gives you what you ask,
But once you have set the wages,
Why, you must bear the task.
I worked for a menial’s hire,
Only to learn, dismayed,
That any wage I had asked of Life,
Life would have willingly paid.
