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Are These Self-Limiting Beliefs Preventing You From Starting A Small Business?
Here are three common disabling beliefs which prevent people
from starting small businesses because of the fear of failure.
Many think they are not well enough educated, come from a poor
background which holds them back, or think they need loads of
money to get started in a new small business venture.
Let me show you why I think these are not true.
Lack Of Education
Many believe you need a good education to make a lot of money or
to start up successful small businesses.
Far from being held back by poor education, it may actually be
an advantage. Just as blind people often have much better
hearing, people who have less education often compensate in
other ways.
They may communicate more effectively to a wider population,
they often exhibit greater dexterity and ability working with a
wide range of materials and have great ability to judge risk and
reward.
A good education can even be shown to be a disadvantage to
entrepreneurship.
It is normal for well-educated people to find it easy to get a
job. This means they are making money for someone else, in
exchange for a smaller proportion of money back. (If employers
didn't make more money from their workers than they paid them,
then they couldn't continue to employ them.)
Having had a good job for a while, to give it up on a small
business enterprise usually means risking losing that job, and
the money that comes in with it, which may be needed to start
the new venture. This brings us to another myth-
Lack Of Capital
Many believe you can't start a new moneymaking venture without a
lot of money to get started. I don't believe this!
The old saying "If you ain't got nothing you ain't got nothing
to lose" really is true.
If you have a lot to lose by risking a new small business
venture, you may be so cautious of failure that you fail to
succeed.
So many seriously rich people started from flat broke or in many
cases from serious debt, you have to conclude that a lot of
capital is not necessary.
J. K Rowling is one of the richest individuals in the UK. While
she was writing her first novel she had barely the price of a
good meal to sustain her. She even had to type the book out
twice (with a second hand typewriter!) to send a copy to the
publishers because she couldn't afford to have a photocopy done.
Living In A Poor Environment
Many believe you need to come from a rich background to become
rich. Baloney!
People have worked their way up from living in tin shacks to
owning hotel chains. It is just as easy to sell goods to people
in the ghetto as it is in the richest street in town.
Indeed it is often much more profitable to sell cheaper goods
than more expensive goods.
Here's a few examples-
· Burger vans have far higher profit margins than many top
restaurants. · Skateboards often have far higher profit margins
than cars. · A bicycle sales and repair shop would find far more
customers in a poor environment than in a rich one. · Trades and
services (plumbers, electricians, decorators) will be more
likely to succeed with the low costs
of the poor environment and
traveling to a better environment to provide those services.
Poor Education, No Capitol AND a Poor Environment!
A few examples of people who succeeded with their small
businesses may help to prove my point.
With all three - poor education, no capitol and a poor
environment, one guy in Africa has found great success. He lived
on what most people reading this would consider to be a rubbish
tip, but with very little education and no capitol at all, makes
a great living for himself. With no more than a stout pair of
ordinary scissors, he turns discarded empty drink cans into
really stylish flowers. Selling them to locals and tourists, he
makes a fine living.
Now I am not suggesting for a moment that this is a workable
small business idea for you, but it does prove my point. If he
can be so successful, by his terms, in Africa, then really it
can't be so hard for you can it?
Another example, which you are equally unlikely to repeat, is
that of many 'pop stars'. I won't go into detail here because I
prefer not to get sued, but if you look carefully at the early
lives of, for example, Madonna, Eminem, Bob Dylan etc. you would
find they have bettered themselves considerably with very few
external resources. Lastly, how about Nancy Engel. Starting from
flat broke with very little education, she bought $30 worth of
assorted spices. Mixing them together, she labeled them Italian
Spice Mix and took them to a local flea market the next day. By
the end of the day, she'd sold all her stock and pocketed $200.
By repeating this simple formula, her small business is a great
success. What if you are fortunate enough to live in an
outstanding environment, have received an excellent education
and have access to seemingly limitless funds - would that ensure
success? History is littered with examples of people in just
this situation, who started business ventures which failed
completely leaving them financially broke.
I believe you are just as likely to succeed, or fail, regardless
of your environment, education or funds.
Small Businesses Idea, Plus Action
So enough of what you don't need to succeed - what about what
you do need? Almost every example shows that after an idea which
the entrepreneur considered worth pursuing, action is required.
It sounds obvious, but without action, all you have is an idea,
and by themselves, ideas rarely make you successful!
By action I don't mean simply telling everyone you know about
your idea, I mean actually doing something to make your idea
happen.
So now you see why I believe that it is quite normal for people
to succeed without access to good education, good environment or
good funding.
I believe you can change your life massively with no more than a
few good small business ideas and a little action.
About the author:
Laurence Abbott brings to you a wealth of experience of starting
and running small businesses. From hundreds of ideas for small
businesses to recommendations for all of the services, small
businesses will gain much by visiting 4-Small-Businesses.Com
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