On the Fence about Starting a Business? Read This

If you really want to start a business and feel a little “fire in your belly” about it, then you have a great chance of succeeding no matter what your level of expertise, experience, education, or money.

By following my advice in detail, and learning and benefiting from my experience and my countless business mistakes, you can greatly increase your chances of success. But like anything, it takes time. It will take you some time to go through all of my advice, and I strongly recommend you do so. It will also take some discipline – such as writing up a well thought-out business plan – to follow up on my advice. But these are the steps that can make all of the difference.

Why Do Some Businesses Fail, While Similar Businesses Seem to Flourish?

Every year, millions of businesses are started, and over time most will fail. Some will just muddle along, and others will thrive. The difference between the successes and failures will not be not evident at the beginning. Success is not the result of having the best-educated team, the flashiest new idea, the most experienced workforce, or the deepest pockets among other startups. It’s typically experienced by businesses that have the best thought-out business plan, one which addresses the needs of its prospective customers. And that success is also experienced by those businesses that are different from the competition in a way that really matters.

New ideas are a dime a dozen. Ideas often sound great on paper, but what happens when that idea doesn’t sell? Will you have the determination and staying power to keep on going? Will you be open-minded enough to really listen to what your customers want and what they don’t?

What are you going to do when everything seems like it’s going great and, suddenly, a much larger, more established, better-financed competitor knocks off your entire business?

Well, real life entrepreneurs are not fearless. These things happen and it can be scary. But the bigger question is not whether you will be scared, but if you have the determination to keep on pluggin’ on through the challenging days, as well as during the easy days. That’s an even more powerful sign that you’re ready for your own business.

And if you’re really still sitting on the fence about whether you should start your own business, here are a few suggestions:

For one, think about starting a really small business, a test business if you will.

For another, learn everything you possibly can about starting a business: study every single one of my pieces of advice, and perhaps even assemble a business plan, and then decide if you feel ready.

Starting a business can be a great step forward. While you don’t want to drag your feet, you don’t want to make the decision lightly either.

Takeaways You Can Use

  • You can benefit from my business mistakes by reading about them instead of making them yourself.
  • Deeply thinking about and planning your business can be more important than having the best talent or the most money.
  • Having the dogged determination to keep plugging during the tough times is an important ingredient of business success.
  • Starting a small test business may be a clever first step.

Looking for a business idea?

Check out my most popular article, The 300 Best Small Business Ideas. This comprehensive multi-page article offers expert advice on every single business idea. Includes home based, online, steady income, low cost, product and service ideas. Many of the ideas in this long article can be started part time.

Start Streaming the Courses on BusinessTown

Learn how to start and run your business by watching the many courses on BusinessTown including Start-a-Business 101, How to Create a Business Plan, How to Find a Business Idea and The Complete Guide to Digital Marketing. You can try BusinessTown for free.

About Bob Adams

Bob Adams is a Harvard MBA serial entrepreneur. He has started over a dozen businesses including one that he launched with $1500 and sold for $40 million. He has written 17 books and created 52 online courses for entrepreneurs. Bob also founded BusinessTown, the go-to learning platform for starting and running a business.