Starting your own business may be the best thing you do today, tomorrow or even next month. But if you are being held back by any ‘what if’ fears running through your head, you may never benefit from the rewards that being a business owner could bring you. And by rewards we mean…

– The opportunity to be your own boss

– A greater work-life balance

– The chance to turn your personal passions into a business opportunity

And that would be a shame, especially if you have been considering starting your own business for a while now. Still, we will be looking at some of the common ‘what if’ fears here, with some handy tips to reassure you if they have been plaguing your mind.

What if I fail?

This is a common fear, and quite relevant too, as many businesses do face closure, especially those that are based in the high street. But here’s the thing, out of 190 countries assessed, the UK ranks highly for success when doing business. So, statistically speaking, you do have a fighting chance. Of course, you will still need to work hard, market your business, and have a business idea that is competitive, but at the very outset, know that you may not be destined for failure, despite your worst fears.

What if people think I’m crazy?

Does it matter what other people think about you? Sure, you should listen to advice, but if your heart is set on starting a business, don’t let other people shoot you down. There are risks involved – quitting a full-time job to start up on your own for a start – so you might face some criticism, but provided you start off with a decent business plan, you can alleviate a lot of the risks involved in starting a business. Listen to other people by all means, and consider any advice given, but provided you weigh up the pros and cons of starting a business, you will know yourself if you are crazy or not.

What if I get into financial difficulty?

This is a realistic fear and one that needs to be confronted head-on. If you are reliant on an income from your current job, for example, then you shouldn’t quit your job until you are financially safe to do. In this instance, you might start a business in your downtime, and grow it while still earning from your job. You might then quit your job when you are making enough of a profit from your business to survive. There are other things you can do to help you financially, such as hiring an accountant for professional advice, looking at ways of saving money within your business and making a concerted effort with your marketing to attract paying customers. See below.

What if I don’t get any customers?

You won’t get any customers; well other than your friends and family unless you make an effort to market your business. There are loads of ideas here to give you inspiration. And when you start to attract customers, you need to do all you can to keep them. Deliver excellent customer service, so you don’t alienate them. Keep an eye on your nearest competition, and deliver a better product and service, so your customers don’t migrate over to them. And encourage anybody you know, be they friends, family, neighbours, and your existing customers, to pass the word about your business onto others. Your only problem may then be the next point in this article.

What if I can’t handle the workload?

The more customers you get, the more work you will need to do. There will also be the other tasks that are typical within any business, such as managing invoices, working on your website, and as we have already discussed, taking steps to market your business. You will have a lot on your plate, but you don’t need to go through it alone. This is where outsourcing comes in, as you might want to pay other firms to take on some of your workloads, such as a marketing team, web design company, and an accountancy firm. You might also consider hiring others, be they freelance, part-time, or temporary workers. There are some hiring tips here if this is something you need to consider.

Finally

If you have any ‘what if’ fears, don’t worry unduly. It’s natural to be cautious, but don’t let them put you off starting a business. Do your research into the things that are worrying you, consider the suggestions we have given you in this article, and then, when the time is right, take the plunge. You might only live with regrets later in life if you don’t, with those ‘what if I had done something different’ thoughts running through your mind.