5 Reasons People Give Up On Starting A Business

Starting dopplepop is one of the scariest things I’ve ever done. The business began as a face-time talk with my good friend Derek. By the end of our conversation, we were business partners. We had shared interest, passion, plan, and our next steps all ahead of us. I hung up the phone and could not wait to tell my husband about my new business venture.

That night, when i nodded off to sleep, I remember jerking awake, terrified. I kept thinking “What am I about to get myself into? I am already strapped for time and chronically exhausted. How am I going to make this work?” I somehow managed to talk my racing brain to sleep. But the next morning my mind was racing again. Will I have time to see my friends? Or walk my dogs? paint? Or read? Does starting my own business mean I have to give up on everything I enjoy in life?

The week following the inception of dopplepop, I spent a lot of time walking and thinking. I eventually came to the conclusion that no. I would not give up on my life. But I will find a way to fit dopplepop into my life. Derek and I shared a dream. And the thought of me not participating in that dream made me feel much worse than the thought of me losing some sleep or cutting back on social obligations.

The dream of dopplepop propelled me forward. But I still had to overcome these 5 reasons that cause people to send their business to an early grave.

They Get Scared

fear

When starting a business, there is so much to be afraid of. What if you won’t achieve the return on investment you hoped for? What if the market is too competitive? What if you fail? What if you succeed and then fail? If you let it, the fear can send you into a frenzy.

If you recognize that fear is a natural human response to making such a radical life change, then you have taken the first step to owning your own business. Rather than being crippled with fear, let it become a part of your motivation. When you catch yourself thinking, “I could fail at this…” reframe your perspective. Start thinking, “I could succeed at this despite all the potential pitfalls. Look at what I could overcome.” Just like that, your fear has become a motivator.

They Lose Steam

lost steam

I get it. Sometimes your passion wanes. You can’t remain amped and eager to tackle the next task 100% of the time. There is a lot of mundanity involved in becoming an entrepreneur. It is easy to lose steam.

Instead of letting your business become a thing of the past, take a night off to recharge. Then, return the next day and find out what will help you to stay inspired. That could mean that reminding yourself why you started the business. Or it could be as simple as chatting with your customers or fellow entrepreneur community. Take the time to find out what will keep your passions alive and stick to it.

Life Gets In The Way

SONY DSC
SONY DSC

I have a very non-glamorous chronic illness that can make it hard for me to work. Sometimes I catch myself fantasizing about winning the lottery so that I can quit everything and I won’t feel the stress of working through terrible stomach pains and diarrhea (I told you it wasn’t glamorous).  Some nights I am up all night sick in the bathroom. This has been my life for the past three years, a daily struggle with my intestines and being a sleep deprived zombie.

While sickness might seem like a huge barrier in starting a business, it doesn’t have to be. There will always be something in your life that you might think is holding you back. But, the truth is, you will always make time for your dreams. If this is what you truly want, you can fit it in.

They Forget To Celebrate The Journey

cheers

The day dopplepop went live, my husband kept telling me we needed to get champagne and celebrate. Every time he brought it up, i said “No. No. Derek and I haven’t even made any money yet! There is nothing to celebrate!” So our launch came and went and Derek and I kept working.

Looking back, we should have celebrated. If Derek and I paused to celebrate our successes along the way, it might have spared us some of the drudgery along the way. Pausing to brag about your achievements or meeting small goals will help you to stay motivated in starting your business. Don’t skip the small wins or you might lose sight of the greater goal.

Their Goals Are Too Lofty

lofty goal

Yay! You want to be your own boss! A CEO! An entrepreneur! These are great goals. But, how do you get there? You can’t expect to achieve your dreams if you have only thought of the end state. A lofty goal is important to business. But if you don’t set milestones along the way, you might miss your dream entirely.

TLDR

Becoming a business owner is hard. If you are beginning your path to becoming an entrepreneur, you need to overcome these 5 obstacles:

  • Fear: Find a way to turn your fears about starting a business into a motivator
  • Losing motivation: Discover what inspires you about being an entrepreneur.
  • Life Barriers: There will never be a good time to juggle your goals with your life. Find a way to make starting your business a part of your life.
  • Celebrate successes as you go.
  • Set manageable goals.

Have you had to overcome these obstacles in your business owner journey? Let us know in the comments! Are you stuck on one of these obstacles right now? Let us help you!

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2 thoughts on “5 Reasons People Give Up On Starting A Business

  1. GREAT advise! I am going through these right now and trying to regroup after my business partner dropped out of the race in the losing steam phase. I tried to get her through it, but she became non responsive. I ran a successful business prior to becoming a SAHM through the young years, so I remember going through all of these things before. This time, it’s easier to remind myself that it’s normal – keep at it and celebrate!
    Good luck with your chronic illness! It sounds eerily similar to my husband’s, gratefully in remission.

    Like

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