If Nick Vujicic from the video above can do it, to be quite honest, then you better have a really good excuse why you can’t. If you’re not interested and it’s not for you, then that’s different. But if you’re using any of the excuses listed below, then I’m sorry but we’ve all heard them before. We know them all too well. These are 13 excuses, NOT REASONS, most people use for why they can’t start a business. The reality is you can, you just don’t want to enough. Because if you did, you’d find a way. None of them are reasons, they’re all excuses. And today I’m going to dispel each and every one of them.
1. I have no time.
Seriously? I call BS on that one. Almost everyone, and I mean almost everyone, has some free time or time that’s wasted.
Do you watch any tv shows? Do you go to any movies? Do you watch any sporting events? Do you go the pub/bar? Do you go out for dinners? Do you hang out on the patio or have barbecues with your friends on the weekends? I understand everyone needs time off to relax and so on, but no one said it was going to be easy either. If you do the math, and really look at how you spend your days, I have no doubt you can find at least 10 hours a week. And everyone can find at least a few hours each week!
2. I don’t know how.
Here’s a big secret, no one else really does either. There is no manual to being an entrepreneur. We just figure it out as we go along. The more experience you have, the better you get at it. Just like anything else.
If you want to look at it another way, it’s like riding a bike. No one knows how to ride a bike on their first try. But if you don’t start trying you won’t learn. The same is true with swimming, dancing, learning a new sport, learning a new language, programming. Even using a cell phone. It wasn’t that long ago that most people would say they couldn’t use a cellphone, and now almost everyone has one.
And unlike in the past, there’s a lot more information out there today. You’re not limited to just your local library, you can order virtually any book from Amazon. And if you don’t have the money, you can always research everything you need online on the internet. There’s no end of entrepreneurial information out there. The fact alone that you’re reading this article means you’re already learning from the internet!
3. I don’t have the money.
And? Only a really small subset of companies actually require a significant amount of money to get going. There are many many many businesses that require very little money initially to get started. Sure IT based companies like software companies probably do require less cash (and instead require a lot more time) that a lot of other businesses, but don’t think that’s it. There’s lots of different businesses out there.
In all honesty, the problem is because most people think too big for their first company. If you really want to succeed, start on a smaller scale. Just like when you start driving a car. Is it smart to learn how to drive a car in a Ferrari or is it better to learn in a basic sedan? Do you learn to fly a plane by flying a 777 Jumbo Jet your first time in the air or do you start with a basic 2 seater plane? Therefore start a smaller business, something you can build up from, and go from there. Use the money you earn from your first business to build your second.
PS: Do you have an LCD tv? Have you taken a trip in the last while? What kind of car do you own? Do you go out to restaurants? Do you go to the movies? If you really want to, I’m sure you can find some money.
4. I don’t know where to start.
There is no perfect place to start. But like the saying goes, a journey of a thousand miles starts with one small footstep. You need to start and the rest will just happen. The biggest hurdle is generally just taking that first step. And don’t stop once you’ve started, keep going. That’s another major hurdle most people fall prey to. They get excited, take a few steps, and then basically just stop taking any steps. Don’t let that happen to you.
5. I’m too young/old.
Really? What’s too young or too old? If you’re reading this, then you’re neither too young or too old. Age is a perception thing, it’s really all in your mind. It’s not a valid reason.
6. No one will give me any money.
Fine, then start something else. This is back to #3, maybe you should start something smaller. Don’t try to fly a Jumbo 777 jet your first time flying. Just because no one will give you money for THAT SPECIFIC business, it doesn’t mean you have to stop everything. There’s more than one business in the world.
At the very least, you can look at starting a smaller idea. It’s the same as when you start your career. No one will hire you as the president or CEO of their company when you first start. You have to build up your career, establish yourself. Start with a smaller business and create a history of success.
7. I’m waiting for the perfect idea.
Good luck with that. You’ll be waiting forever. There is no such thing as the perfect idea. And to be honest, there’s lots of ideas out there. Executing on your idea, I would say, is more important than the idea itself.
8. What if I fail?
What if you fail? What’s the worse that can happen? As Tim Ferris put it in his book The 4-Hour Work Week, what’s the absolute worse that can happen if you fail? If you really think about it, it’s probably not nearly as bad as you think. For sure you won’t die.
And failure is not a bad thing. Of course you’d prefer to avoid it, but so what if it happens. Imagine if you had the same avoidance of failure with everything you did. How would you ever have learned to drive? And by the way you can die learning to drive! How would you have learned to ride a bike? How would you ever visit a foreign country? Learn a new language? Learn to fly a plane? Learn to dance?
9. I don’t have the skills or experience
Were you a professional driver when you first got your driver’s license? Where you a professional basketball player the first time you tried to play basketball. What about doctors? They have to start somewhere. Everyone has to start somewhere, including entrepreneurs.
Don’t worry too much about this. Early on you’ll make more rookie mistakes, but that’s part of learning. As time goes on, you’ll find it gets easier and easier. For example, how difficult was it when you first started driving? Did you make silly mistakes (while still surviving)? Did it take almost all of your concentration? Did you drive at full speed? Now how do you drive? Is it much easier? Now you’re probably not thinking about the details, you’re thinking more of your route (strategy) rather than how much to push on the accelerator and if you’re too close to the car in front of you (daily busy work). Those things become intuitive after a while.
10. There’s too much competition.
There’s no such thing as too much competition. A large number of competitors means the market is too segregated which means there’s no dominating player. That’s really good!
If there’s only a few big competitors, you’re in even better luck! The big guys are just as scared of you as you are of them. Once a company has become big, bureaucracy sets in and doing anything, especially anything innovative, becomes very hard. Which also means don’t try to compete with them head on where resources are the key to success, focus on where they can’t compete! Innovation, customer service, quickness of execution, and so on.
By the way, competition is a good thing. It’s much harder to be the first because not only do you have to sell your product or service, you also have to educate people about it. Personally I prefer only having to deal with one hurdle at a time.
11. I have to wait until everything is lined up just right
This will never happen. All entrepreneurs will tell you this is a pipe dream. You’ll never have everything perfectly lined up.
Now that doesn’t mean don’t plan and try to prepare beforehand, it just means don’t ever expect to have everything perfectly lined up to start because it won’t happen. And in all honesty, no business ever goes 100% smoothly. You just have to roll with punches and adjust as you go.
My favorite analogy, which I’ve taken from the software world, is the classic example of driving a car. When you drive, do you lock your steering wheel and move forward, or do you continually make small adjustments, turn when needed, and so on. If you locked your steering wheel, you probably wouldn’t even make it past your street. The same is true with business. Nothing ever lines up perfectly, you just have adjust as you go.
12. It’s just too risky.
Is it really? How risky is your job? With a business you have multiple clients whereas with your job you have just ONE SINGLE CLIENT. All your eggs are in one single basket. So if your one single client decides they no longer need you, or they can no longer afford you, you’re revenues (paycheck) goes to $0. With a business, if one client drops you because they themselves run out of money, it’s not the end of the world because you generally have many other clients.
By the way, if you run your own company, you know what’s going on. As an employee, you can easily be blindsided and laid off at any moment. And we’re seeing a lot of that today. You’re at the mercy of management, which means you may not know until the last minute. Not only that, but it’s possible you could lose your job just to improve a balance sheet for investors and nothing more. You really have no control of what may happen, nor are you always going to have knowledge of what’s coming.
13. I’m still working on my business plan
This is my favorite which I saved for last! I’ve seen too many would-be entrepreneurs working on their business plans forever, never to actually execute on it. It’s much much much easier to write a business plan than to start a business. Plus you don’t have to push through all the hard walls and issues you’re going to encounter when starting.
Common variations of this are people who move from business plan to business plan. People who endlessly try to perfect their business plan. People who work on the minute details of their business plan forever.
By the way, a business plan is really just to give you an idea whether your business concept is feasible or not. Don’t ever try to execute it to the letter, it will never work as written. What you’re doing is writing down your assumptions and projections, that’s it. As you develop your business, you’ll find where you made errors in your assumptions and projections, and you should adjust accordingly. Trying to force a business plan to life is a recipe for failure. It’s really more of an initial guideline, almost to force you to think about what you’re going to do before you do it.
You’ll also find that as you become more and more entrepreneurial, you’re less and less likely to write up a business plan. After you’ve run a few companies, you don’t need to go through all the detailed planning because you already have a good idea of what’s coming ahead. Plus, your business plan rarely survives it’s first encounter with real customers. But if you’ve never started a business, it’s a good place to start. Just don’t focus too much on getting it perfect, or ironing out all the details. The business plan’s goal is to help you develop your idea, not write it in stone. You don’t have to follow your business plan perfectly, no successful entrepreneur ever does!