The world of entrepreneurship is an exciting prospect for many, with more and more people each year dreaming of owning their own business. To show you just how popular startup businesses are becoming, StartUp Britain’s research discovered that in 2016, the highest number of businesses yet, 657,790 to be precise, were introduced.
However, even with the number of startup business growing year on year, it seems that many ambitious business hopefuls are stopped in their tracks due to a variety of barriers. icount, who offer an alternative to standard business bank accounts, spoke to 2,000 UK adults who were attracted to the idea of owning their own business. Their survey came across popular reasons as to why business hopefuls were drawn to kick starting a business, as well as what prevented them from following their dreams.
If you’ve been through the same worries and concerns as these business hopefuls, don’t let your ambitions be quashed. Here are a few words of wisdom that can get you back on track towards making your dream business a reality.
Forget about what you heard
There’s plenty of rumours and statistics that go around the world of business, that put a lot of people off the idea of starting one of their own. While some of it tends to be fake news, other opinions can be true, but that shouldn’t let you discard your plans of becoming a business owner.
For example, whilst pre-established business owners like to boast about their successful business when 95% of others fail, this shouldn’t be the reason why you throw in the towel. Think about the fact that this 95% probably didn’t carry out careful research and planning before taking the plunge, one of the biggest components of why a business succeeds.
Don’t fear the unknown
Yes, research and planning is a vital part of setting up a business, as is a complete and thorough business plan and forecast to review on a regular basis. However, that doesn’t mean that you are going to know everything before starting up your business. You are bound to face problems that you hadn’t predicted and will have to work together to find the best way to tackle them. Don’t fear the unknown and instead, embrace it, to grow your business and to become a well-grounded business owner.
Stick with it and don’t give up too soon
You’ll have plenty of ideas and plans for the business, with some being more realistic than others. Once you get started, you’ll find it so easy to start things, but a little more difficult to finish them. To complete a task, it takes dedication and motivation to pursue it until the end – whether that’s until you find out it’s not going to work and need to move on, or until you start reaping the benefits from it.
If you do find that something you’ve tried has failed and died a death, don’t let that deter you from getting back up and trying something else. Owning a business is all about trying, failing, trying again and eventually succeeding. It’s unlikely that you’re going to see growth from the very beginning, so don’t give up too soon and keep trying different directions until you find one that fits.
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