Starting a business is no walk in the park. It takes loads of passion, determination, and … guts. But, how do you find the courage to take such a big leap and start your own venture? Read on to learn how to find the courage to start a business and signs it’s time to make the big jump.
Finding courage to start a business: 5 tips
There are over 582 million entrepreneurs in the world. If you want to become one of them, you have to start somewhere. And, sometimes that “somewhere” begins with mustering up the courage to start a business in the first place. On finding the courage to start a business, Baruch Silvermann, CEO and Founder of The Smart Investor, said:
It is never going to be the perfect time to start a business. If you constantly keep putting it off, you might regret that decision for the rest of your life. Countless massive businesses have been started during the worst recessions. Start now by taking that first step.
To finally get the guts to start your own venture, use the five tips below.
1. Believe in yourself
This first tip may sound a little cheesy, but it’s absolutely necessary if you want to become a business owner. Aspiring entrepreneurs: you have to believe in yourself.
If you want to start a business, you have to have confidence in yourself and your business idea. After all, you wouldn’t invest your time, money, and energy into something that you weren’t passionate and sure about, right? Right.
Think about your business idea and why you’re passionate about it. Will it help others? Does it make you happy? Ask yourself these questions to get to the bottom about why you love your business idea and what makes you confident that it will succeed.
To light the fire in you and give you courage to start your business, you have to believe in yourself and your idea 100%.
2. Set attainable goals
To thrive in business, be willing to set goals and go after them. But to get the courage to create a business, set goals well before your venture takes off.
Start the goal-setting process by identifying things like your company’s mission and target market. And, establish a business plan if you haven’t already. Outline the tasks you want to accomplish in the early days of your business. For example, you might want to:
- Secure $X in funding from investors
- Find a business location
- Make $X in profits by the end of the first quarter
- Sell X items in one month
When creating your goals, be realistic and set appropriate deadlines. As you gain more experience, you will learn how to set attainable goals and achieve them. On setting reachable goals while starting a business, Axel DeAngelis, Founder of NameBounce, said:
If you have limited business experience, try to simplify your goals as much as possible. Perfectionist goals will make it that much harder to get started. Simple goals will help you recognize that starting a business doesn’t need to be an insurmountable task.
Whatever you do, don’t shake off the importance of small goals in the beginning. The small tasks you set at the start of your entrepreneurial journey serve as stepping stones to reaching your business’s mission and make way for even bigger goals.
3. Surround yourself with positive people
To have the courage to start your own business, you not only need to be confident in yourself, but also surround yourself with people who will also give you a confidence boost.
The mere thought of starting a business can be exhausting. But if you have a great support system and surround yourself with positive people, you can gain the courage you need to begin your venture.
Here are a few individuals you can go to for motivation if you need a few words of encouragement:
- Other business owners
- Family members (e.g., aunt or uncle)
Chances are, they will be happy to support you and your entrepreneurial dream. And, you’ll feel even more determined when others tell you “you got this!”
4. Prepare ahead of time
Part of hyping yourself up and getting the courage to start a company comes from preparing yourself ahead of time. Maybe you need to prepare mentally. Maybe you need to prepare yourself physically (e.g., create a business plan). Or, maybe you need to do both.
Whatever the case may be, make sure you have all of your ducks in a row before beginning your venture.
Create strategies for different aspects of your business. That way, you’re prepared for anything that gets thrown at you during the process. Think about things like pricing, location, marketing, and social media. And, remember to also do research by conducting a market analysis.
The quicker you tackle these details, the more prepared you will feel to dive into the business world.
5. Get moving
Last but not least, if you want your entrepreneurial dream to become a reality, get moving by putting your plans into action.
Sometimes the best thing you can do is take a leap of faith and follow your passion. Sure, you may not have all the little details ironed out completely. But, that’s OK. Your plan doesn’t have to be perfect. Remember, you can always make adjustments in the future.
Don’t wait around forever to put your plan into action. Muster up the courage to start your business and get a move on with those goals you hope to achieve.
Signs it may be time to start your business
You can start a business at any point in your life. Every entrepreneur’s time frame is different. In fact, 60% of people who start a small business are between the ages of 40 and 60.
It’s never too late to follow your passion and become an entrepreneur. But, how do you know when it’s time for you to start your company? If you’re itching to start a business, it might be time to take the leap if you:
- Strongly believe in your idea
- Are passionate and motivated
- Perform best working on your own schedule
- Have good business connections
- Want to learn and grow
- Have a solid plan in place