A lot of people want to be successful and frankly speaking owning a business is one way to get there. The problem is that owning a business comes with a number of expectations that most people are afraid of or reluctant to face. We have come up with 8 reasons why most people are afraid to start a business for your review and comparison.
Job security sometimes means that you are not directly worried or thinking of how to keep a company working. Your responsibilities are limited to the defined job description and someone else (The mystical CEO, MD, GM) is responsible for it. So most people would rather be content with showing up at work do what they do and at the end of it all get their salaries in their bank accounts.
Ever hear people saying they have enough stress in their lives? So most people would then not want the extra baggage that comes with running a business. Who wants to wake up early before everyone else and worry about financials and how the business is doing? In the end they would rather avoid the stress than be caught up in it.
3. Unknown Risk
There is always that feeling with business that you never know for how long you will be in operation and what the future holds. Contrast this to a regular job where most people feel that because they don’t see what goes on in the boardroom they are safe (well sort of).
One of the most key reasons is because most people know what business is but few want to sell. Business means you must have a solution that others are interested in and that they must be willing to buy or exchange something for it. (Five Principles of Programmed Success, 2015). So people think of “How will I be able to convince people on my products”.
5. It is a lot of Work
Owning and starting a business is a lot of work and most people are just not interested in a lot of work. One has to keep up with the clients, the employees, the market competition, the government and other more variables which can come up, including the suppliers.
6. It changes your lifestyle
If you are going to do business then there are sacrifices that will be required in your lifestyle. It may mean not hanging out as often as you would or missing the football matches that you liked. Your timetable can become more stressed and the hours will never be enough.
7. It could make you rich
This may seem ridiculous but for most people, the idea that they could become one of those rich people and be one of those so called “fat cats” scares most people. We are brought up thinking that being rich is not good (it’s evil) and let alone being very wealthy is either a sin, or it means we are social outcasts. So in the back of our heads we would rather be one of the boys and prefer getting rich by winning the lottery.
8. It requires Capital
Before even thinking about the business they want to start most people think “I don’t have money to start a business” yet not every business demands capital. One does not have to start with capital there are many ways to do business and capital can always be arranged. It is reason number 8 which then makes a lot of people decide its not worth it yet they could actually make it.