Facing the Fear of Starting Your Own Business (a guest blog by Cheryl Conklin in the US)*
You may currently be facing the fear of starting your own business. Trying something new is always a scary prospect. It’s especially scary, though, if it involves sinking hours of your time and a considerable chunk of change into a startup endeavor. That’s the situation you face if you decide you want to start your own business. There’s a reason why, according to research, 55% of people in the U.S. say they could start their own business — but only a small fraction of those do. Learn how you can face your fear and dive into entrepreneurship.
Resources to Help You Build Business Confidence
When you are in the beginning stages of entrepreneurship, you need to learn how to leverage your fear and use it productively. There are many resources you can consult that will help you achieve this, but one of the most useful is a business mentor. A business mentor can be a source of inspiration, and JL Consultancy can give you advice that will build your confidence.
There are other ways to face your fear, too. Rather than immediately diving into a major business, you can start with a side hustle and see if it has the potential for growth. Similarly, you can assess your goals to make sure they’re realistic and decide that you will learn from any instances of failure.
It’s important to accept that for most people, failure is simply part of entrepreneurship. The successful business people who inspire you the most had to fail countless times before finding success. You can minimize your likelihood of failure, though, by taking an honest inventory of your strengths and weaknesses. Be sure that you’re working with people who help you improve both.
Establishing the Foundation of Your Enterprise
Once you’ve connected with a mentor and started working on your confidence, you can focus on building a business plan that will further help you eliminate your fears. A business plan should include an overview of your company’s hiring practices, plans for selling services, its internal structure, and its funding sources. Detailing each of these elements will boost your chance of success.
Your business plan should also identify the type of company you plan on establishing. For example, you may want to form an LLC, a sole proprietorship, or a partnership. For many people, this is one of the scariest parts of starting a business, but an online formation service can do that legwork for you and ensure you’re in compliance with state
laws. Creating a business entity allows you to enjoy tax benefits, less red tape, minimized liability, and maximized flexibility.
With these tasks accomplished, it’s time to start marketing your new business. As you develop marketing materials, you may be emailing a graphic designer, and you might need to send them multiple JPG image files. To turn your image into a PDF — without sacrificing the quality of the images — you can use a JPG-to-PDF conversion tool.
Tools to Ensure Your Business Will Grow
With the right tools, you can get your business off the ground, ensure that it grows, and face your fears. Fear is the body’s natural response to risk, but if you surround yourself with the right people and consult with a business
advisor, you can minimize this risk. Partner with an online formation service to establish your business entity and simplify sharing images by using a JPG-to-PDF converter.
* I would like to thank Cheryl Conklin for this inspirational guest blog. Please feel free to check out Cheryl’s amazing website Wellness Central also.