Starting a business can be scary. The financial fears, unpredictable world of entrepreneurship and possible losses can all be reason for overwhelm and stress.
For anyone starting a business, it’s an unexplored territory and doesn’t come off easily. It takes hard work, sacrifice, sleepless nights, failure, and starting over, for as many times as you may need to.
During the process, you may lose friends, go broke a few days and often times miss out on social life. If you don’t turn back, it’s possible to restore these, says Norryn Gloria Busingye, the founder of Kontent Kitchen, a content marketing agency that helps business owners and entrepreneurs to give more visibility to their businesses.
No one wants to partner with you before you have and show a sense of direction in your business. The vision of your business lies entirely on your shoulders, and this scares some people off, she says.
"Most people find it scary because there is no clear cut manual on how to go about it or anyone that can take you through the process. You have to make it work your own way. Besides, the thought of going through a period of trial and error, venturing an unchartered territory makes it scary for many.”
When Enatha Cyuzuzo was starting her construction company- Ela Poder, she faced a lot of doubt and fear. Even after starting, running her new start-up came with lots of ups and downs.
"You know how we don’t like making losses. If you are going to start a business and you are not sure of gaining profit in one way or another, of course you are going to be scared. You are spending your money, taking a decision with no promise of profit or the assurance of getting back what you invest is not easy,” she says.
Entrepreneur Didier Izere agrees with Cyuzuzo noting that it all zeros in on the fear of failure.
"Most start-ups fear to put themselves out there considering that no one will like their idea and then they will end up looking stupid.”
The fear of competition at the market can also make it hard for one to start a business as it becomes difficult to take action while you think you are not ready to overcome your competitors, Izere says.
He stresses taking the risk nonetheless and believing it will all work out.
"As an entrepreneur, you have to have risk-taking ability. You don’t have to consider yourself as someone who is going to fail. What you need is to realise that failure is just a possible outcome when things don’t go as you planned.”
Recommendations
Izere advises to consider counsel and testimonies from other entrepreneurs; some entrepreneurs who started small can be a source of motivation for other start-ups as they can help you get invaluable insights of the strategies you need to start your business.
Start with what you have and build along the way, Busingye says.
Create your own magic. You know what is driving you and that alone will take you places. Create a support system. You will at some point get discouraged, so you need someone in whose energy you can tap. When you find someone on the same journey, cheer them on, she notes.
Busingye also incites not to fear starting off with pro bono services. You don’t make money that way but you build a name. Know when to halt these; no business was ever built on rendering free services.
"Master your craft. It’s the only way you will be trusted. Don’t under-price your services. In the process, they tend to be undervalued.”
She also emphasises keeping tabs on your books of accounts. "It’s not business until you are making money. Find the simplest terms of explaining to people what your business is about. And know that everyone you meet is a potential customer.”
Taking a leap into entrepreneurship requires courage and strategy to surmount some of the hardest mental roadblocks business people face.