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Starting a business – too fearful?
A survey by Orange of 2500 UK adults found that four out of ten would be entrepreneurs were too sacred of failure to pursue their business idea. Now there is an interesting topic for a blustery Wednesday morning.
Some have commented that these would-be entrepreneurs should be encouraged to take the essential step from idea into action. This is certainly true for many but in my experience a sizable percentage of those in business owners would be far happier doing something else. The sacrifice is only worth the effort if it is paying off and I encounter many hobbyist businesses, mostly built around the web which are occupying significant time and energy to often produce less than the minimum wage. Huge amounts of angst are also associated with these enterprises and the quality of life for the owners and those closest to them is poor at best.
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So certainly let’s see more entrepreneurs in Britain but maybe some of that fear which holds potential business owners back is justified. They say faint heart never won fair lady and the same could be applied to commercial success too. Be very clear of what you are getting into before starting any business. It will occupy more of your life than you expected, you will have some sleepless nights, have to make difficult decisions and so on. At the very least make sure it is something you are passionate about for then you have a better chance to stay motivated, even in the toughest times.
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October 29th, 2007 at 12:16 am
To be successful, other than sheer hard work the businessman or woman has to be comfortable with risk, and has to have a positive attitude to what s/he is doing. Two of my favourite books are ‘Mind Power: Into the 21st. Century’ by John Kehoe, and ‘The Power of Positive Thinking’ by Norman Vincent Peale. The point being made in both books is that you can achieve whatever you truly believe you can. If you have a negative attitude to what you do you are preparing yourself for failure, and guess what? You’ll fail. No doubt at all. But a positive attitude – that’s different. Then, you’re anticipating success. You may not always achieve it but the odds are starting to stack in your favour. A positive attitude won’t guarantee success, but a negative one will guarantee failure.
November 5th, 2007 at 11:07 pm
A guy called Robert Kyosaki (wrote Rich Dad Poor Dad) said to me: money, if you lose it… you can get it back, but time – if you lose that… you’ll never get it back.
That doesn’t mean to say: remortgage your house, but it does mean give it a go… take a risk.
British attitude: conservative, safe, save your pennies for a rainy day, don’t do anything unsafe.
American attitude: yeee ha!! I’ve got a crazy idea… I’m going to make million!
Americans are stupid and dumb: well known statistic (in America) to become a millionaire… you have had to become bankrupt 7 times!
Wow that means dumb American started business, failed, fell flat on his face, American started business, failed, fell flat on his face, American started business, failed, fell flat on his face, American started business, failed, fell flat on his face, American started business, failed, fell flat on his face, American started business, failed, fell flat on his face, American started business, failed, fell flat on his face, American started business and SUCCEEDED!!
My biggest fear: leaving this planet not having left my mark and not having made this world a better place.
Chris: keep up the good work!
Omar
November 7th, 2007 at 3:27 pm
Hi Chris,
Great insight. However, I remember clearly watching a film when thewords were spoken…..
“The only thing worse than failure is regret”. I am so utterly convinced that ANYONE who has a desire to do ANYTHING in life should give it a go. We only get one life. This is not a rehearsal. What’s the worst that could happen? Better yet, what’s the best that could happen? Keeping positive mental attitude is key. There are many times I would have given up with my business, but having run my own business full time since 2001 – I wouldn’t trade it for ANYTHING.
Anyone reading this and wanting a low risk business start up – take a look at some MLMs – the “people’s franchise”. in partocular my favourite – http://www.TheGameBiz.com. I’ll be your mentor!
December 24th, 2007 at 2:18 pm
Hi thanks for the great information! I love the information on this blog. I have my business plan written up hopefully i can get everything up by the new year.