A couple of BusinessBiker buddies and I recently came up with five major reasons why more people – aside from the usual start-up money and fear – do not go into business for themselves.  Here’s our list:

1.  They down play and therefore lack confidence in their abilities – Most people do a poor job of self-inventorying their skills, knowledge and abilities. To us, greatness is something other people will accomplish. After all, if we thought of and did it, anyone else can too…right? For example, it wasn’t until a year after I left banking to start my own business that I really understood everything I not only knew, but excelled at.

2.  They focus too much on the need to make money – Most successful entrepreneurs do not start their companies to simply make money. Where that’s important and how we keep score, entrepreneurs start companies because there’s a passion for what they do and a desire to go their own way in order to do it. Money in and of itself is not a motivator; therefore it must begin with a passion for the business.

3.  They seek advice from the wrong people – Had I listened to my friends and those who want the best for me, I’d be neither a CEO nor an author. In fact, one of my dearest friends, upon hearing I was writing a book looked me in the eye over a glass of wine and said – “you’re going to lose your ass you know…” Understand that your friends always taint feedback with their own fears and limitations. Go out and find established entrepreneurs who are currently in the game and seek their advice. You will rarely be turned away and who knows, you might pick up a few mentors along the way.

4.  They focus on their short term needs – When in a survival state it’s hard to stop and figure out exactly where you want your life to go beyond paying this month’s mortgage, but that’s exactly what you need to do. Because when times get hard, you need that vision to sustain you during the sleepless nights. It goes back to that age old saying about keeping your head while those about you lose theirs. Therefore, it’s imperative that you slow down when things are flying the fastest because only from a position of quiet can you really see the weak signals that will guide your path.

5.  They don’t know where to start – It’s difficult when starting out to both see and understand the weak signals of opportunity that when recognized, will lead them to success. For too many years their direction and focus has been determined by others or the organization. They must learn how to read the road signs now that they are leading their own pack.

That’s our list…what do you think?  Let me know if you have any other reasons.

D

Dwain – The BusinessBiker

As always – This is just my opinion, I could be wrong.  So, if you disagree or simply want to pile on, please do so either here on the BLOG or email me directly at Navigator@BikersGuidetoBusiness.Com  I look forward to hearing from you.

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