According to Global Entrepreneurship Monitor (GEM), out of the 27 million Americans of the working-age, at least 14% are jumping onto the bandwagon of entrepreneurs or starting their own business. 51% of the population believes that there is ample opportunity to have your own business and there is no better time for the same than now says Eric James Dalius.
Eric James Dalius points out the reasons that hold you back from becoming an entrepreneur
Not everyone has the potential to take on risky ventures. When you can see several hundred losing their jobs due to pay cuts and the closing of businesses, it becomes scarier to take the plunge. However, in the paragraphs that follow, Eric James Dalius will walk us through the apprehensions that people hold before investing in a business of their own.
Fear of the unknown and uncertain times
Just as you fear that if you start a business, it could take you nowhere but at the same time if you are in a job, it does not assure you of permanent stability. You are on the rolls of the company if you can perform. The moment you stop performing you are on the door. So, why not take the risk for your own company by investing a little.
Eric James Dalius cites lack of funds as another reason
Since you are aware that the investment you make for starting a business may not give you good returns instead might just get wasted, you fear to tread the path. However, you can start with a little fund. With so many crowdfunding platforms that are ready to help you out, you can reach out to one such platform and get access to some funds. But you must use the fund after careful planning.
You lack experience in running a company
Eric James Dalius says this is one of the main reasons for not becoming an entrepreneur, but this too has a solution. You can always reach out to other entrepreneur networks or join a community or a virtual forum to find out what others have done.
There are 2 main advantages of networking with other entrepreneurs. The first is that the more you learn, the better you will be able to understand the mode of operation and how to proceed.
The second advantage is that with the help of guidance offered by other business forums and communities, you can afford to lose less money. This is because if you are aware of the logistics and how you must function, it becomes easier to manage your cash flow. The chances of losing your investment are lower.
Stressful
Another reason people do not tread the path is that business is stressful. However, initially, it is but once you are used to the ways of managing your business, it does not appear to be stressful.
So, without giving it a second thought, you can try your luck at becoming your own boss.
