People who cannot open a business: 8 basic types

Many entrepreneurs today are worried about the fact that often friends and acquaintances approach them with this message: “You know, I’ve come up with a very cool idea, I’m sure I’ll make a lot of money! Therefore, I plan to start my own business soon!”

It is sad, but all these people are guided only by the desire to change the world. As a result, their startups are usually never implemented.

Today, starting your own business does not require particularly high costs, “lack of funding” sounds more like an excuse to never start.

There are many opportunities and ways to start a business. Many people create and develop e-commerce websites through free tools, create special applications for smartphones, etc. Experts recommend using crowdfunding (a type of start-up financing popular today) as a source of funding. Crowdfunding allows you not to get involved in long-term loans and do without such type of financing as venture capital. That is, today there is no problem in financing a promising idea, a startup. There is something else that does not allow people to start their new business.

So, we figured out that funding a startup is not a problem. What is the real reason for the fact that today there are many “imitators” of real entrepreneurs who will not be able to launch their project?

In this article we will try to describe at least eight types of people who can never start and lead their own business to success.

Perhaps you will recognize in them someone of your acquaintances, and maybe even yourself:

1. More like dreams than their implementation
These people often call themselves “generators of ideas”, they like to talk about their vision and leave the realization of some of them to “lower creatures”. That is, they cannot “descend” to their own realization. Based on my experience, I will say that there are many good ideas, but it is much more difficult to convert at least some of them from a dream into a profitable business.

2. Not interested in the skills of translating business ideas.

Every day we answer this question, explaining the essence of the events in the evening newsletter UBR

There is a widespread myth in our culture that business skills like such “higher matter” as rocket science can only be learned in business school or in business trainings J. However, in the modern world, with its constantly updated Internet knowledge base , self-learning through the Internet is always more accessible and productive.

3. Unexplained fear of failure
Every person has some fear of the unknown and is good for survival. However, successful entrepreneurs are those who were able to overcome their fears and learned to manage certain risks and failures, considering them as part of the learning process. Another category of people, let’s call them “exhausted from fear,” in order to avoid risk and all subsequent expenses, they prefer not to start their own business.

4. Equally inexplicable fear of success.
We all saw people on the threshold of success, who seemed to deliberately undermine their “momentum” and doomed to failure near the finish line. Of course, premature success can kill a business, but real entrepreneurs are confident that they can grow and learn from their success, just as they learn from failures.

5. Perfectionists, not pragmatists
There are so many talented inventors who have been working on the same technology for 20 years and still want to do more research to make sure that their product is perfect before they start selling this product. But in today’s rapidly changing marketplace, perfectionism is a fleeting and impractical goal. At the same time, pragmatists can create a minimum viable product (MVP), test it on the market and replicate this product for future success.

6. Not able to focus on the main
Focus is the key to success in entrepreneurship. A business in which you are trying to do too many things in many markets most likely will not succeed, and in the pursuit of markets, it may also lose all potential customers. Focus means steadily adhering to priorities, separating the important from the urgent, organizing and delegating.

7. Instead of responsibility, just excuses.
Justification is the desire to argue failure after a real fact or personal justification to never start a specific business. The best attribute of this entrepreneur – the recognition of the fact that “the dollar stops here.” After all, there are always alternatives, a fulcrum and creativity to overcome any obstacle.