There are so many reasons why you shouldn’t start a business, from it being a huge risk to you not being good enough.
However, if everybody let those reasons stop them starting a business, there wouldn’t be any businesses in existence.
Here are five reasons you should never start up your own business, and why you should ignore those reasons.
It’s too difficult
Starting and running your own business is a challenge but that is what makes it so rewarding when everything comes together – when your business becomes a success you will know that all the hard work had paid off.
The challenges you will have to overcome also mean that you grow as a person as your business grows.
You’re not qualified to run a business
Nobody was born to run a business. Even the most successful business people, those who you feel have always been successful, had to start from the bottom and learn everything about business as they went along.
And there’s only so much you can learn about business from reading books – you get real business experience only once you are actually running a business.
Your business idea is rubbish
If you have written down your business idea, maybe in the form of a business plan, and you think that it is a rubbish business idea, take heart in the fact that what is written on paper rarely gives a great idea of what the business will actually look like.
Businesses are formed by looking at what the market wants, and changing your business idea until it resembles that, in a way that can actually make money.
Starting a business is too big a risk
Many startup businesses fail, it’s true, but it is only by taking risks that the successful businesses got where they are today.
While you do risk losing your job if you go off to start a business only for it to fail, if you are not the sort of person to take a few calculated risks now and again, you probably wouldn’t make a good business owner because of the risks you need to take to even get the business started.
You need lots of money to start a business, money you don’t have
While it is true that starting a business can be expensive, nobody ever has as much money as they want or as much as they think they need.
The startups that become a success are often those which learn to work on a shoestring budget, getting the most possible value out of every penny spent. Then there are alternative sources of income to look at such as crowdfunding.
Shoaib Aslam is the co-founder of Pearl Chartered Accountants, a UK-based chartered accountancy firm that has multiple locations across London. They are experts in helping startups and established businesses with all aspects of growth, strategy, scaling up, accounting and tax planning.