Are you afraid to start a business?

I attended a meeting the other day and the speaker told the crowd that during this change in the economy it would probably be a good time for them to start a business. Actually, I change that, they said, ‘Hey, instead of looking for a job. Start a business.” There that’s a little closer. At any rate you could almost feel the terror rise in the hearts of the attendees.

What’s the fear. Are they terrified that after working at something for 20+ years one day the client will just pick up the phone and fire them? Are they afraid their retirement account will suddenly become depleted without any of their input or activity? Just one day there and the next day vanished without a trace.

If I had the opportunity I would hold these little ones tightly in my arms and say, “Sweetie, I wouldn’t worry about starting a business. That’s the easy part. I would be concerned about keeping it running and dealing with the day to day activity.” But before they would attempt to climb down in discouragement I would then tell them. “But, control and independence of one’s destiny and wealth is always going to be work.”

A few pointers for those who are on the fence:

1. Remember the founder of Kentucky Fried Chicken started the business when he was well in his 60’s. He prayed up the idea after he received his first social security check and it wasn’t enough. It was told ‘no’ over a hundred times before he heard ‘yes’.
2. You don’t have to jump into a venture all by yourself. Build up a team or get a partner with similar passions and skills. Make sure you work well together and balance out one another.
3. The technology around today makes starting and expanding a business much easier then it was 10 years ago. Your target audience can be the world as a result of the internet, cell phones, fax machines, and other products and services.
4. Be prepared to spend a little money to get things set up right. Trying to go cheap will cost you down the road. However, you can find creative ways to use those financial resources effectively.
5. Think outside the box. This may be a good place to put some of your resources but first try a few social groups and the internet.
6. Starting with your passions is a good idea. However, make sure there is a target market with the revenue and ability to pay. If your passion doesn’t feel a need or fix a problem for a population willing to pay it won’t do you much good financially.
7. Step OUT. You won’t know if your idea will work or fail if you never put some work behind your idea.
8. Don’t get discouraged if things don’t work immediately. Some good ideas take time to find the audience that will appreciate it and be willing to pay. NOTE: You may have to step out of your comfort zone to reach this audience.