If you’ve been dreaming of starting your own business for years but haven’t pulled the trigger, it may be worth evaluating why you haven’t done it yet. If you don’t figure out what’s holding you back, you may never get around to launching your company. Here are some of the most common excuses for not starting a business and how to overcome them.
I’m Not Qualified Enough
Many people think that they’re not qualified or skilled enough to start their own business. Most of the time, this is imposter syndrome talking.
Almost everyone has a talent that they can turn into a small business, whether that’s crafting, writing, graphic design, or something else.
The business tasks that many people worry about like doing their taxes and invoicing clients aren’t that hard to figure out. The best way to learn is by doing, so I recommend launching your business even if you’re worried you won’t be able to handle it.
I Don’t Have Enough Time
In today’s fast-paced society, we’re all short on time. Whether you have a full-time job or you’re a stay-at-home parent to young children, you probably think that you don’t have enough room in your schedule to start a business.
But if you’re passionate about entrepreneurship, it’s worth it to hire a babysitter or stay up late working after the kids have gone to bed. You can also use apps like RescueTime to analyze your online activity and hopefully find some extra time in your day.
Even if you can only carve out a few hours per week to work on your business, you’ll be surprised at how much progress you’re able to make. And who knows—maybe you’ll build up enough momentum or revenue to be able to reduce your hours at work and devote more time to your side hustle.
I Don’t Have Enough Money
One of the most common excuses for not starting a business is lack of startup capital. Many people have the misconception that getting a small business off the ground requires a lot of money.
But the truth is, you can start a freelancing business for free. It didn’t cost me a penny to get my first blog writing gig, and I still haven’t invested that much money into my writing business years later.
Even if you’re launching a product-based business, you can keep your costs low by starting small. Only purchase enough materials to make a few items. Once you sell them, you can reinvest that money into your business and grow from there.
If you need to, you can even get a small business loan to cover your startup costs, so don’t let lack of funds keep you from becoming an entrepreneur.
I Don’t Have Any Original Ideas
Another one of the most common excuses for not starting a business is not having original ideas.
A business idea doesn’t have to be unique to be successful. I’m definitely not the only freelance writer out there, but I manage to make a living at it.
You can start a common business like a lawn care service and innovate in other ways. Maybe your unique selling point is that you provide better customer service or have a stronger digital presence than other companies in your niche.
As long as you find ways to differentiate yourself from your competitors, you don’t have to come up with the next Facebook or Uber.
If excuses are keeping you from starting the company you dream about, try to challenge them. With a little brainstorming, you might be able to find solutions to obstacles that seem impossible to overcome and turn your business idea into a success.
Vicky Monroe is a freelance personal finance and lifestyle writer. When she’s not busy writing about her favorite money saving hacks or tinkering with her budget spreadsheets, she likes to travel, garden, and cook healthy vegetarian meals.