5 REASONS WHY YOU SHOULD NOT BE AFRAID OF STARTING A NEW BUSINESS

Many people think, at least once in their life, they could start a business. Very few actually do it. There are many reasons why this happens, but the most important one is FEAR. People fear they cannot come up with a successful idea, or they are afraid of taking risks, or they are unsure about setting up a business with no experience, etc. We give you five reasons why we believe you should not be afraid. The following is inspired by the book Start Your Own Business, Fifth Edition“, published by Entrepreneur Press.

 1. Starting a new business doesn’t mean having a brilliant idea that nobody has had before

Do you think you cannot start a business because you have no brilliant ideas? Don’t worry. Most successful businesses are not innovative, but simply respond to a need. If there are 50 coiffures in your city, but none in your quartier, opening a coiffure shop in front of your house is likely to be a successful business.

 2. Starting a business is not rocket science

If you have no experience and you don’t know what you need to do to start your business, just write down a list with what you think it’s relevant. Then consider one row at a time and look for information. You can surf in internet, call offices, use the socials to ask people who might know the answer, or may put you in contact with the right people… Starting a business is a common sense process, it is just a matter of finding information and acting accordingly.

 3. People who try to dissuade you are not necessarily right

When you think you have a good business idea, talking to your friends and relatives about it is a good way of finding out whether it may work or how you may improve it. However, many people may look sceptic or may even try to dissuade you: your mom may say it’s too risky, your best friend may tell you she would never use the service you are proposing, etc. Before feeling discouraged, ask yourself if this person might love you too much to let you take any risks, envy your courage, or be completely different from the typical client that your business will address.

 4. If something doesn’t go according to your plans, it does not mean you will fail

If you are a conscious entrepreneur, you will analyse all aspects of your business and evaluate the risks (e.g. through a business plan) before taking off. Yet, it would be very surprising if everything happened exactly the way you imagined it. You will most likely find obstacles on your way and realize that you can’t stick to your plans. However, your plans are just… plans. Even for big obstacles, you can find a way around. Do you want to build original sport equipment, but banks do not give you a loan? Build 2 pieces at a time, sell them and reinvest the capital! It may take longer, but it can work!

 5. And even if you fail, it is not the end of the world

Closing a business after a few months is not a catastrophe. First, you are not alone: in Switzerland, about 50% of new businesses close within 6 months. Second, unless you decide to use all the savings in your pension funds as seed investment for your business (please don’t!), everything you may lose is some time and some money. Just make sure in the planning phase that, if things don’t go the way to hope, you won’t lose too much money or too much time and go for it. Failures are great ways to make some experience about what works, what doesn’t and why. Capitalize on this precious information and start over again!

 

If you are a woman and live in Switzerland, there is one additional important reason why you should not be afraid of starting a new business: you can count on the help and the brilliant minds of many other women like you.

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4 replies
  1. Laura Citterio
    Laura Citterio says:

    Everything is so true!! I pass through all the steps you mentioned, especially the last one: activity closed few years after and… it was not the end of the word! As my father (an experienced entrepreneur and thus a trustable man) told me: in life not everytime you will be succesfull, but the most important thing is to never give up!

    Reply
  2. Wanjoo Alexandre Kim
    Wanjoo Alexandre Kim says:

    I believe your point 4. is nicely summed up by a quote attributed to President Dwight D. Eisenhower: “In preparing for battle I have always found that plans are useless, but planning is indispensable.”

    Reply

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