Barriers to Starting Your Own Business : And How to Tackle Them

Starting a business is a dream of every entrepreneur, a passion and a vision for someone.  And it is very difficult for people who are newly entered into the arena. Obstacles are tough to handle, Few barriers to starting your own business are faced by most entrepreneurs and small business owners.

In this article, we will cover the biggest barriers entrepreneur face and how you tackle that barrier make all the difference and decide your future.

The 5 Biggest Barriers to Starting a Business:

1. Lack of Capital

For many people, this is the biggest obstacle and finished the idea or plan even before starting, especially for a young entrepreneur.  Majority of entrepreneurs give up because they don’t have sufficient funds.

There are some steps and options which help you to tackle this challenge and getting the financing, take a personal loan, etc. Bootstrapping is the best option you can start without wasting time, but strapping is nothing it’s a self-funding,  crowdfunding,  and from the investors and financing companies like Lending Valley.

Try to start a business that leverage online presence, like this you can go globally without much capital, even you have the option take the price value in advance of your product or services.

2. Run Out of Cash

Poor management and poor sales lead to failure, poor management could be a cause of run out of cash, spending money on unwanted things, to spend money in a proper way save a lot of cash. And the second reason for lack of sales poor marketing leads you to slow sales of your product and business.

Traditional methods of advertisement are costly so try to market your product online, it will save you dollars and get you sale and leverage the liquidity. And get the momentum for business growth.

3. Lack of Enough Time

Time is very precious commodity, starting business early in life is a good thing because you don’t have any liability that time, and to start later in life could be impossible for many people with the job and to get the momentum you have to sacrifice your holidays, your weekends and be ready to do late night.

Some people not focused and they do different things parallel, that destroy their time and effort and they don’t see the good result in the near future.

When you handled the initial setup you have chances to grow exponentially that brings money and leverage for you. And your workload reduces drastically.

4. Lack of Courage & Self Doubt

Self-doubt and courage are the killer instinct for any entrepreneur,  entrepreneurship is a roller coaster ride and full of unwanted challenges you need very tough mentally and belief system should be strong in every situation whatever the condition outside. Creeping and crying is not the solution to any obstacles. And that time you want to give up if you walk through the hurdle your success is certain.

That is why a business person should have leadership qualities if you don’t have those qualities create those qualities in your skill set that is essential for an entrepreneur, negotiation skill, a flexible mindset.

Sometimes leaders also doubt themselves but they overcome self-doubt and take action. Make a goal and write them, keep working on your goals with consistency take you closer to success.

5. Unable to Handle Stress & Pressure

Stress also a business killer most business fails because the owner gives up the amount of stress the weak mind are the reason for giving up.

You have to learn the art of stress management, business means stress, there is no business without stress, but handle the stress who reaps the fruits of success.

These are some traits that describe your success and failures in the long run for a business and the good things are that all are achievable, doable and skills learnable. And be prepared in advance before doing any business.

Author Bio: Naresh Kumar is a freelance writer and a professional blogger, founder of www.realspark.in Enjoying the internet lifestyle he found his passion in entrepreneurship, That's how he turned what he love doing into a career and become his own boss.