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Stop putting it off - get that new business idea off the ground in the New Year

Published: 16th December 2017 23:41

This time next year, we’ll be millionaires.

This time next year, we’ll be millionaires. So said a certain South London market trader with whom we are all familiar, and who will almost certainly be back on our screens in the form of reruns over the festive time. It was easy to mock Del Boy’s enthusiasm and misplaced confidence, but in the end, he had the last laugh.

The point is, while some of his schemes might have been hair-brained, he always went into them with complete commitment. How many of us have been sitting on our own idea for weeks, months, years? It’s almost certainly something with far more chance of success than anything Trotter’s Independent Trading could have come up with. Yet it will never have a chance to succeed unless it is given a chance.

There has never been a better time to set up your own business, and this is truly the age of the entrepreneur. Why not make a New Year’s resolution to get your idea up and running? The question is a serious one - here are three common reasons people give not to start their own business – how many of these excuses have you been making?

1) It’s too much of a gamble with my limited funds

OK, so this is a reasonable reason to think twice. But here’s the thing: today, starting your own business does not have to be a huge gamble at all. An online enterprise can start small and requires very little in the way of startup costs. Whether you are contemplating business consultancy or riding the huge wave of popularity that the online casino market is enjoying, there is nothing to stop you starting to carve out your own niche, even if it is just on a part time basis.

2) It’s just too much effort

People have an idealized view of entrepreneurship as something that involves lazing in the sun, driving a Ferrari and occasionally taking the odd high-powered business call. Unfortunately, that’s starting at the end. Your business will need drive and dedication to become a success, and if you are just going into it for the rewards, you are unlikely to get far. Successful entrepreneurs start a business because it is something that excites them. Go into it with the right mindset, be prepared to put in the long hours, and the rewards will come naturally.

3) I can’t get the right business idea together

Now at least you are thinking along the right lines. A great idea is what it is all about, but remember what we said above – it needs to be something you believe in, and that you will want to do. It also needs to be something you are talented at. Try asking yourself these questions:

  • What would your friends say is your greatest talents?

  • If you had two hours to spare every week, what would you do with that time?

  • What do you hear people complaining about that you find easy?

Try to come up with three or four for each, and then start looking for commonalities. From there, you can really start to build up your idea. Good luck!

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