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3 Reasons to Stop Trying to Start a New Business

Starting a new businesses isn’t for most people. Here’s what you should be doing instead.

Ask yourself this question; how long have I been thinking about starting a new business?

If you’re like most people I talk to everyday, the answer is simple….you’ve been thinking about it FOREVER.

And that’s understandable, because we all love the idea of owning our own business. We have all those daydreams – romantic notions – of how cool it would be to run our own show, make lots of money, and not have anyone telling us what to do.

But let me interrupt your daydream for a minute and bring you back to reality.

Starting a new business isn’t for everyone. In fact, it isn’t for most people. That includes you.

The reason that you’ve spent so much time dreaming and not actually doing anything is because you know this is true.

So let’s go through my three reasons and then I’ll talk about what you should be doing instead. There are actually more than three, but by the time you finish this post you will get the gist.

Reason Number 1 – You’re Not Prepared to Create Something from Nothing
Starting a business and making it successful requires a very particular set of skills that most people don’t have. We’ve all read these articles that try to unveil what makes successful entrepreneurs tick, but at the end of the day the answer is that they possess the unique character traits and skills to successfully create something from nothing.

If you don’t come by these traits and skills naturally, its extremely difficult and time consuming to try to develop them in your life. The distance from where you are today and where your future capable self is, is very far apart! Sure it can be done but most of us give up long before we can make it happen.

Reason Number 2 – You Don’t Have a Business Idea You’re Passionate About
If there is one single character trait that every successful entrepreneur should have, it’s passion for what they are building.

Starting a business is tough. It’s weeks, months, and even years on end of endless struggles, often with no real reward coming from it, and certainly not a paycheck. Frankly, it can totally suck. And it can suck the life out of you.

Which is why passion plays such an important role in the process. Passion can get you through the times when the novelty has worn off and all you’re doing is pumping your time, money, and energy into this thing. Without a strong passion, you’re probably doomed from the start.

One easy test to see if you have the passion is to think about what business you want to start. If the answer is “I’m not sure” then that usually is a good indication that it’s not something that will last.

Reason Number 3 – You Don’t Really Want to Start a New Business
Here’s what I’ve learned in my years of coaching people about owning businesses. Even though they may not realize it until I point it out to them, most people aren’t in love with the idea of starting a business and trying to make it successful.

What they desire are the many benefits that they associate with being a business owner. So what people really desire is to be a successful business owner.

Of course, there is nothing wrong with seeing things this way. Where the problem begins is that they see the only path to being a successful business owner (and all the benefits that come with it) is to start a new business.

And this simply isn’t true. Not only is starting a new business not the only path to successful business ownership, for the vast majority of you reading this it isn’t even the best path to owning a successful business.

So that’s where the good news comes in. You don’t have to go through the grueling startup phase, hope you can beat the odds that are completely against you, and create a business that can support you.

Instead, what you should be doing is learning how to buy an existing business.

The distance from where you are today and where you need to be to buy a successful business is much, much shorter and can be achieved much faster. In fact, I’ve worked with people in the past that were able to quit their jobs in less than 90 days from the time we started working together.

In contrast to starting a new business, most of us are very well prepared to walk into an existing business and start operating it right away. Because it is familiar territory for us. There are already customers, employees, and vendors in place and so it’s a much more familiar environment for us to work in.

Buying a successful business is a much safer, faster, and smarter way to achieve your dreams of being a business owner and finally getting to enjoy the benefits that come with it.

 

I’ve just opened up my Private Coaching program and will be accepting the first 5 readers who want to work with me 1 on 1 to start replacing your job income with a small business. You can learn more about the Private Coaching by clicking here!