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Finding the motivation to start a business
by Startacus Admin
Stephen Canning is Management Consultant, a councillor at Essex County Council and a Startacus member with some insight to share. In this post written exclusively for Startacus, he describes how to find the motivation to start your own business.
Finding the Motivation to Start Your Own Business
They say that the most difficult thing is knowing your true calling, yet many people do actually have a dream business they have always wanted to start; the problem is finding the motivation to trade in stability for risk, a crucial step to entrepreneurial success.
If you have been working for someone else for too long and an invisible obstacle is stopping you from making a move, follow these tips to find the inspiration you need:
1. Clue up on your proposed business: Starting up your own business may be easier than you realise. The first step is to visit the relevant authorities to determine all the legal requirements you need to comply with to set up your business. Study the different possible business models available, discover whether or not you are eligible for any grants and if you are new to business as a subject, do online research to work out how to make a business plan and work out costs and benefits, to see whether or not now is the right time to fly the coop.
2. Consider any psychological blocks to change: Sometimes, we have the finances, know-how and network we need to start our own business but something within stops us. It may be a fear of failure, rejection or financial instability. It is vital to discover these blocks and take the steps to overcome them. Therapy can be helpful if there are deep emotional scars which need to be overcome.
3. Channel anger in a positive way: Anger can be a motivation for change, but it can immobilise us. Instead of allowing stress, frustration and anger to drown us in negativity, we should see it as a signal for vital change. Ultimately, we cannot change our boss or work culture when they are resistant to progress. We can, however, change ourselves, setting boundaries and employing our energy to make steady progress.
4. Take that one, small step: You don’t have to give up your full-time job to start a business; you may be able to do all you need by working flexible hours at work or dedicating afternoons and weekends to your special project. Think about getting your website up and running, making business cards, deciding what services and products you will be offering. If you are a writer, for instance, accept a few extra assignments without quitting the publication you are currently at. If you have a special trade, accept a few projects from friends and acquaintances. Eventually, you will be able to dedicate yourself full-time to what really lights your fire.
5. Money isn’t everything: It can take a few years before the big change starts bringing in big returns. Ultimately, you have to be prepared to stop letting money be your primary motivator or you’ll never start a business. Remember that all great entrepreneurs and leaders have passionately pursued what they believed in. Give yourself that luxury, remembering that you only have one life to live. Wealth should be your reward, not your goal.