5 Obstacles That Hold Entrepreneurs Back From Launching Startups—And How to Overcome Them

We all struggle with different things. Sometimes these weaknesses rear their ugly heads in the beginning stages of a business, while other times they don’t become apparent until years down the road.

If you’ve been struggling to get your company off the ground, then it’s likely one of the following obstacles is preventing you from moving forward:

1. Fear of the Unknown

There’s something really scary about launching a startup. (Okay, there are a lot of scary things about building a company.) But at the root of each anxiety is a fear of the unknown. What will happen if you start a business? How will you react when a particular situation unfolds? Where will you be in three, five, or ten years? Will you end up rich or broke?

The fear of the unknown is enough to cripple even the most talented and ambitious entrepreneur. And in order to overcome this, you must adopt the right frame of mind. It may sound cliché, but you literally need to take things one day at a time.

For many entrepreneurs, it helps to keep a calendar. On this calendar, write down simple daily objectives, weekly objectives, and annual objectives. By breaking things down into digestible bites, you gain control over things that might otherwise seem impossible.

2. Poor Credit/Lack of Funding

Okay, here’s an extremely practical one. Is poor credit hurting your ability to obtain a small business loan or financing? This is a common situation that people don’t like to talk about. For some reason, people are ashamed to admit that their troubles are a result of poor credit. Don’t be!

There are a number of ways to overcome poor credit and secure financing, but you must be willing to get creative. The first and most obvious option is to work with a credit repair organization. The benefit of doing this is that they can tell you exactly what’s holding you back and potentially fix the problem. The second option is to seek out private funding that doesn’t rely on your credit history. Finally, crowdfunding is gaining popularity, thanks to sites like Kickstarter and Indiegogo.

3. The Demand for Perfection

The demand for perfection may sound admirable, but it’s something that can totally derail your growth. If you aim for perfection in everything, it’s going to take you years to do what should have been done in weeks or months.

How can you tell if you’re a perfectionist? Consider your logo design. How long did it take you to design your logo–and how many sets of revisions did you complete? The truth of the matter is nobody except you cares about the font size and exact HTML color code of your logo. Get over it and move on. Strive to be the person who prioritizes finishing over perfection.

4. Not Wanting to Ask for Help

Sometimes entrepreneurs simply don’t like asking for help. Sound familiar? If so, you need to recognize this problem and overcome it. While you never want to be someone who asks for help when it’s unnecessary, you also don’t want to be the person who tries to move through life on your own.

Here’s what you need to recognize. Asking for help is not a nuisance to others–or a sign of weakness. We are designed to help each other and you may be surprised that others are quite willing to extend you a favor, especially if you’ve done the same for them in the past.

5. Letting Emotions Dictate Action

Emotions are a wonderful part of being human, but you can’t let them dictate your ability to make decisions in the business world. Instead, you need to rely on numbers and facts. If your research tells you something will or won’t work, don’t let your fleeting emotions tell you otherwise. Your mind has a funny way of working against the facts, so learn how to tune it out in certain situations.

Choose to Move Forward

While there are some things that can keep you from being successful, most of the things that hold entrepreneurs back in the beginning stages are speed bumps–not roadblocks. If you’re struggling with any of the challenges mentioned in this article, it’s time to make a conscious effort to overcome and proceed. It may take some creativity and boldness, but then again, aren’t these attributes entrepreneurs are expected to embody?

The post 5 Obstacles That Hold Entrepreneurs Back From Launching Startups—And How to Overcome Them appeared first on AllBusiness.com

The post 5 Obstacles That Hold Entrepreneurs Back From Launching Startups—And How to Overcome Them appeared first on AllBusiness.com.