There are plenty of people out there with the entrepreneurial spirit burning deep within, but few ever actually do anything about it. Are you an entrepreneur at heart (one that has a huge idea) but doing nothing with your gift? What is holding you back? It could be all kinds of things, but likely it is one of or a combination of several of the following:
Lack of Time
No one has enough time for anything. You have to make time for the things that are important. Take a serious look at your schedule and see what you can squeak out. Can you take a late lunch break and meet with someone at the small business center to help you get started? Can you visit with lenders during lunch, or look for locations at night to go view on the weekend? There is time, but it may not jump out and grab you. You will likely have to look for it and make it work for you.
There are so many sources of small business financing that this one almost seem silly. However, if you do not actually realize what is available, there is no way you could know that lack of funds is definitely not an excuse to not pursue your entrepreneurial dreams. The Small Business Administration offers many financing products; including SBA 504 guaranteed financing and SBA 7(a) Express loans, through multiple lenders. In addition, there are startup loans available from various lenders as well as other types of small business financing. It can be overwhelming at first, but the SBA and sites such as Biz2Credit.com can help entrepreneurs find the small business financing products that best fit their needs.
Lack of “Know-how”
Many would-be entrepreneurs simply feel they lack the skill necessary to start a business, let alone run it. Whether they wish to start a sewing business, a baking business, or a retail shop it does not matter. They can know everything there is to know about sewing, baking, or retail and they still must know how to run a business to be successful.
This is not an insurmountable obstacle. Consider taking a business and accounting course at a local community college, attend seminars, or even go back to college and get a degree. Even with all of these, it is still wise to have a knowledgeable, experienced mentor who has walked this road before and can help guide you and offer advice along the way.
Each of the previously mentioned factors that often hold entrepreneurs back can be easily fixed with access to outside sources. The fix for this issue however, must come from the inside. No one can make you stop being afraid, and it is likely even you yourself can make the fear go away. The key is to use the fear to your advantage, and proceed through it. Start your business, using the fear to keep you cautious, within reason.
This article was submitted by Faith Stewart. Faith Stewart has a BBA with a major in accounting and spent 10 years working in the various aspects of accounting and finance before pursuing her passion for writing.