Starting a Business Is Scary, It Doesn’t Have to Be Hard
Starting a business can be one of the most intimidating endeavors you'll ever pursue. It took me years to finally move forward with My Business Accelerator. I knew exactly what I wanted to do, and even how. But the fear of failure and intimidation would stop me in my tracks.
Having gone through the process of starting gives me an immense amount of empathy for aspiring entrepreneurs. If you are in the scary space between having a great idea and actually starting; I have some good news for you. You don’t have to travel this unknown road alone. With the right approach, mindset, and partners, you can navigate the startup journey successfully. Here are some tips to get you started.
Dream Big, Start Small
One of the biggest mistakes aspiring entrepreneurs make is dreaming small. Your business will never exceed your expectations and the invisible limitations you have set up in your mind. The other big mistake I often see is entrepreneurs overcomplicating their approach, doing too much, too soon, all at once. Don’t try to “boil the ocean”.
You will be more successful creating a simple business plan and following it. Until you are able to execute the simplest iteration of your business successfully, don’t try and take on more. You can revise your plan each year to account for your big dreams and plan how you will scale up.
Research….Research….Research
There are so many free and paid resources available online and through local Small Business Association partners. Do your research to find as much information as you can. When researching, you want to learn as much as you can about your industry. If you don’t understand who else exists in your market, positioning your company for success will be pretty difficult.
Build a Personal Board of Directors
Surround yourself with a network of supportive collaborators and friends who will provide honest and informed advice. The biggest brands we know of have a Board of Directors in place whose sole job is to hold executive leadership accountable and advise on key decisions. As an entrepreneur you will have to make a lot of consequential decisions. Have a group of people that you can reach out to for advice when you reach those key junctures. This team of advisors can also help cheer you on when you want to quit and help you stay motivated when challenges arise.
Embrace a Growth Mindset
Fear of failure is one of the biggest obstacles to starting a business. People who have a healthy growth mindset see failure as an opportunity to learn. If you can grow through a failure and apply lessons learned, the failure was in service to your success. So when you encounter opportunities that seem scary, lean in, don’t shy away.
Be Agile and Adapt
The business landscape is constantly evolving, and flexibility is key to long-term success. The advantage small businesses and startups have over larger competitors is the ability to be nimble and quickly adapt. You can adjust much faster than a large conglomerate. Embrace that as a strength and seek opportunities to adjust and tweak your approach until you find what works.
Final Thoughts
Starting a business is a courageous act. There are a lot of people who have great ideas but lack the confidence in themselves to start. So if you started and put yourself out there, you deserve a huge high-five and congratulations. You have already taken the hardest step. As you embark on this journey, feel free to contact us for help along the way. We can help you build a business plan, launch your new brand, or revamp your existing business.
Remember, every successful business started somewhere, and with determination and the right approach, you too can build a thriving enterprise. Embrace the journey, learn from each experience, and enjoy the rewards of creating something truly your own.