Have you ever imagined starting a very own business? Do you’ve a sound business plan and idea but unsure what to do next? Are you the type of entrepreneur or business owner that fit-in with the work environment? If you’re unable giving a credible answer to any of the questions, better read on!
Over the years, you must’ve encountered genius minds with highly creative ideas but are loafing around and killing time. There’re those as well with lots of money that came from retirement fund, gratuity, inheritance and pension but they lack knowledge about investing in the right opportunity.
You’ll initially feel as if these individuals are held back due to procrastination but later discover it’s their own perception and personal notion that’s the biggest obstacle. Here, we’ll focus on why people kill their self-esteem and don’t start a business.
Lack of motivation & interest[/b]
There’s a pool of highly talented and literate individuals both in labour as well as corporate market. But whenever they’re asked about running their own organisation, common responses that punch right on the face are;
- I would love to but not ready yet
- I’m far comfortable working with someone else
- I’ll stick with my job rather than a personal business
- I’m unable to bear stress and common hassles linked with a personal corporation
- I am more of a career-seeker rather than the business type
The truth is, these individuals are more comfortable switching a job even if it kill their enthusiasm and curing them is close to impossible. If you think in the same direction, stay away from executing your own business as it’s likely to fail and cost you a fortune.
The idea deficiency[/b]
While exploring the world, you’ll find that people are full of amazing business ideas and opportunities but if your method of discovering is through internet, some common queries you’ll come across are;
- Where should I invest with one million dollars resting in my account
- With half a million of naira [/i]or dirhams, [/i]what’s the best business to pursue?
Lack of reasonable business ideas isn’t any excuse to keep yourself from executing a personal business. The world out there is filled with innovative business opportunities and ideas thus it’s indecisiveness, poor mind-set and lack of perception. If you’re a person with identical thoughts, know that the right opportunity may never come again. Just grab one, go along, learn and then switch if needed!
Lack of capital[/b]
Now this is an acceptable reason where most of the good business ideas are killed! Arranging capital is the biggest challenges most entrepreneurs face at business start-up however with a whole lot of financial institutions, you may approach any one; present a stout business plan that’s convincing enough to make them lend you the capital.
Another option is to start small rather than leaping over the tip. Conduct a thorough budget analysis, look for opportunities that fall right within the available finances and go for it. Once you raised enough capital, pursue your dream. It’s far better than sitting idle and waste precious time! Free Zone in Dubai is the best place to establish a business firm without any tax burden and overhead charges!
Scarce technical expertise & business skills[/b]
Business is all about putting your skills to test and cautious investment after analysing the risks and rewards. To lay a strong foundation of the business, you’ll need exceptional communication, sales, accounting, marketing and leadership skills. Unfortunately, most entrepreneurs lack these skills and are unwilling to spend time and resources. This holds them from pursuing a dream business!
Conclusion[/b]
Though entrepreneur is a personal thing but by paying close attention to the above details, you can surely overcome the shortfall and launch a profitable personal business.