Seven major roadblocks stop people from starting a business. In today’s podcast, Sean shares seven reasons why people don’t start businesses and breaks down those barriers. Don’t let these roadblocks block you from living an amaziong life as a successful entrepreneur.
I have found that there tends to be certain roadblocks to starting a business. People who want to start businesses often don’t because they come up on roadblocks that to them seem insurmountable, when in reality they’re really just speed bumps. Speed bumps get in your way but just go over them.
So the first one is:
I need a lot of money to start a business
Remember, my first three businesses I started with less than two-thousand dollars and one of them is revenue a five million a year. I built a magazine in twenty-three cities with nothing but sweat equity.
I’ve never started a business with more than 10,000 business. Not even today. My most recent business I did guarantee a salary. I was getting them to quit a job, partner with me in a business, and I guaranteed the salary and the operating money to start a business. But I knew I was bringing in a super-star. It was worth it.
So you don’t always need a lot of money to start a business. I always say… think pup tent, not dream house. Not everything is going to be perfect from the start. All I’m trying to do is get what I call proof-of-life. I just want to get it off the ground and breathing. Once you get it off the ground and breathing and that’s your only goal you don’t put a ton of money into it.
The idea that you need a ton of money to start a business is just not the case.
Also, money finds great ideas. If you can show the you have a working business model, somebody will support you. Somebody will come alongside you and perhaps be the financial end of the business.
They’re in school or work full time.
There’s a hundred and sixty hours in a week. Everybody has the same amount of time, so if that is your reason you’re just lazy.
Have you ever read the book Four Hour Work week by Tim Ferris? Great book. I don’t necessarily think you can run a business completely in four hours, but he makes some great arguments in it. We waste so much time. But the concept is, if you organize your week you’ll be shocked at what you can accomplish.
I’ve said before, in the beginning, starting a business is like a roller-coaster anyway. In the beginning of doing anything worthy, the work and the sacrifice is on the front-end.
So you get home from work or school and work on it afterwards. You work on it on the weekends. Don’t tell me you can’t do it. Plenty of people before you have done it and plenty of people after you will do it too.
I need to know everything
People just think they got to have everything perfect.
I have somebody’s working for me now that finds a problem with everything is and is always doing research.
Sometimes you got to jump out of the plane and build the parachute on the way down.
That’s just what you do. It’s never perfect and you never have complete certainty when you’re starting a business. I’ve never started a business knowing everything I needed to know from the start. But I figured it out. I’m always shocked three months into it on what what I didn’t know going in.
People think it’s just not the right time
I’ve got kids at home. I’m waiting for them to graduate. We’re waiting for this. I’m waiting for that.
There’s never perfect timing. Never. I’ve never experienced it. That’s just an excuse not to take action.
You’re waiting for this big idea.
FORGET a big idea. Find a profitable idea.
Fill a need. Solve a problem. Find an audience. That’s made more people rich than anything.
I can’t do this. You know… my family’s always been poor!
Okay, great! This is a good time to change things up!
I grew up in that environment, living week-to-week. If I had a dollar for every time I heard “we can’t afford that” growing up. Now, I will not allow my children to say that. Actually, we can do anything.
There’s always going to be a little bit of down, but losers allowed out to be the loudest voice in their head.
What if I fail?
Okay, so what if? You get back up, you learn something, you move on.
That might be the reason why it’s the second startup that has the highest degree of success. Yeah it’s the second one that succeeds at the highest level because you learn something.
Failure is just the scar tissue of success.
What if…what if…what if…
What if she does so well and you become so successful?
So these are the Seven Roadblocks to a Startup. Don’t let them prevent you from achieving greatness.