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Top 7 Fear Factors that Prevent People from Starting a New Business.
by Kanaga Siva
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Most people love to own a business of their own and attribute various reasons
for this desire. In spite of this burning desire to own and operate a business
they are very hesitant to put their best foot forward and venture out. What
holds them back from Starting a New Business is certain Fear Factors indicated
below.
1. No Self-Confidence:
They fear
treading into unknown areas they have never been before. They don't have the
confidence of grappling with new problems and new issues that are bound to arise
in their business. They are negative thinkers. They are more worried about
failure rather than think positively about success. |
2. No Money for Investment:
Since money plays a major
role in starting a new business, it is important that you find ways and means of
obtaining the money. The fear that hovers over their minds all the time is that
they could loose their money in the event of their business ending up in
failure. Hence they are unwilling to convince others to invest in their new
business venture because within their hearts they are themselves pessimistic
about the success of their own venture. This same fear restrains them from
obtaining loans from lending institutions as well.
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3. No Knowledge and Skills:
Most people who shy away
from starting a new business or enterprise often give the excuse that they don't
possess the knowledge, skills or the expertise to set up a business. One need
not possess all the skills and the expertise necessary to run a business. In
fact many successful businessmen do not possess them either. You can get over
this by employing people with the necessary skills to work for you or seek the
advice of a business consultant. You too could upgrade your knowledge as you go
along.
4. No Ideas:
Though money is not a
problem to some but lack of ideas is indeed a major problem since they are
unable to choose the right type of business. Identifying and choosing a Niche
Business or a business that serves the need of the community should be the prime
concern. If you want to be successful it is important that you do some research
and set up a niche business, rather than a business that you love to do.
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5. Bad Time Management:
Have we not heard people
saying, “I simply do not have the time to do my present job and my other
activities, how will I ever find the time to run a business?" Running a business
does not consume more time than your job. It is not a question of insufficient
time but it is your time management that is at fault and needs looking into. How
well you manage your time is very crucial for the success of your business.
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6. Bad Temperament:
Ups and downs are inevitable in
business. The fear of encountering failure and the inability to face the
consequences of this frightens them. A balanced temperament that can face
successes and failures equally and withstand all kinds of pressures associated
with it is essential.
7. Fear of Stress:
Whether you are on an 8 to 5 Job or
running your own business you can undergo stress. Stress is not confined to
business alone. Unfortunately some people fear that by running a business they
could be unnecessarily stressed thereby creating health and family problems.
Stress can be avoided with proper time management and avoiding the tendency to
procrastinate.
Conclusion:
Paying undue
attention to the above factors automatically creates a sense of fear and
prevents you from giving serious thought to starting a new business. Thinking
positively and associating with positive thinkers and go-getters will give you
the courage motivation and confidence to take the first steps in starting a new
business.
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About the author:
Copyright © 2009 Kanaga Siva.
For
Starting a New Business or an Online Business a visit to Expert Author and
Marketer Kanaga Siva's Home Based Business Website and Affiliate
Marketing Blog is the best way to succeed.
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