Jeff Haden, contributing editor to Inc., delivers an important message to entrepreneurial hopefuls in “14 Great Reasons to Start Your Own Business Today.” This article knocks down like dominos the typical excuses and rationalizations that hold people back from achieving their entrepreneurial potential.
In my work, I hear F.E.A.R. (False Evidence Appearing Real) all the time and see how it’s used by highly competent people to rationalize their way out of doing what they say they really want to do – succeed in their own business. Let’s look at a few, talk about how to break through, and get to the bottom line of it all…
“My market is different…it’s extra competitive.”
Competitive markets exist everywhere and that’s a good thing. If there’s competition, there’s proof of demand for the product or service. If you don’t see abundant competition, you have to ask, “Is there really ample demand?” If you’re not the type to want to figure out if you can create demand for a product or service that’s not out there already and prefer a proven market, this is precisely where investing in a solid franchise opportunity makes sense. In franchising, a strong competitive advantage is already embedded in the system where you’re able to capture greater market share through collective marketing prowess, take advantage of preferred pricing on supplies and inventory, and leverage national accounts.
“My kids are too young.”
There will never be a perfect time to start your own business, just as there never seems to be the perfect time to start a family. Business owners with young children often have a unique set of drivers that include a desire to gain more control over their schedule so they can be present for their family. Others want to set an example and demonstrate career options outside the traditional job route. Having young children when you get started can also mean you have extra motivation to ramp up quickly; so, by the time they come of age, they’re ready to learn, work in and even one day take over your business.
When my father voluntarily left his corporate job to start his own business, my mother didn’t work, I was eight years old and my brother was just two. He had to find a way to make it work and found franchising to be the answer. He could be in business for himself, but not by himself. Rich and Christina Pristera agree. We recently helped them into a growing tree-service franchise. Rich shared that part of their motivation is showing their children the value of hard work and dedication.
“The economy needs to be better or the economy needs to be worse.”
There are advantages to both situations, good or down economy, there are just different benefits. Good economy – spending and confidence are up. Down economy – it’s likely less expensive to get into the business and less competition because businesses that don’t have a good system or business model, can’t weather economic volatility. If you’re going to wait for what you think is the optimal economic timing, you are in essence trying to make lightning strike. Take advantage of the set of benefits currently available and get going.
“I don’t have all the skills to succeed in my own business.”
Nobody starts a business possessing every skill needed to succeed. The difference between the “Cans” and the “Cannots” is the “Cans” don’t let this fact stop them from acting on their drive to take a shot at fulfilling their potential. They have confidence in their abilities to learn what they need to learn and figure it out as they go along – this is the bottom line.
And, solid franchise systems can help bridge this skill gap. When you choose a franchise opportunity where the most important skills of the owner are those that you know you already have, the strength of the franchise system will help compensate while you’re learning the new skills. Certainly, you are not good at everything, but you are good at some things. That puts you squarely in the shoes of every other business owner on the planet.
There are simply too many people with not as much education, fewer resources and slighter advantages than you who fulfill their needs and dreams through business ownership – so you can too. It comes down to being aware of the easy excuses, not allowing them to rob you of your potential, accepting that you’ll be learning and course-correcting as you go, and looking forward to the challenge.
Connect with me today and let’s start a conversation about how to identify your limiting beliefs and find your perfect business.
Leslie Kuban is a nationally recognized franchise industry expert, CFE (Certified Franchise Executive) and owner of FranNet in Atlanta; a locally owned and operated franchise consulting firm. Leslie and her team have helped close to 500 individuals and families achieve their dreams of business ownership through a no-cost, extensive educational and coaching process.
Connect with Leslie online or call 502-530-0143 to start the conversation today.