Facing Your Fear of Starting a Business in Eden, NC

The fear of starting a business is very real. In fact, it's one of the main reasons why so many people never take the plunge into entrepreneurship. They're afraid of the unknown, of failure, of not being good enough. But the truth is that anyone can be a successful entrepreneur if they're willing to put in the hard work. Here are a few tips from the Eden Chamber of Commerce on how to overcome the fear of starting a business.

Start by Determining Your Startup Costs

One of the biggest fears aspiring business owners have is not knowing how much it's going to cost to get their business off the ground. This is a valid concern—but it's one that can be easily overcome by doing some research and creating a realistic budget for your startup costs. Once you know how much you need to raise, you can start working on your business plan and pitching to investors.

Create a Business Plan

A business plan is essential for any new business. Not only will it help you map out your goals and strategies, but it will also give you a road map to follow as your business grows. If you're not sure where to start, there are plenty of templates and resources available online. Just make sure to tailor it to your specific business needs.

Select the Right Business Structure 

Another common fear amongst aspiring entrepreneurs is choosing the wrong business structure. There are several different options to choose from, and each has its own pros and cons. It's important to do your research and select the option that's right for you and your business. You can always speak with an accountant or attorney to get professional advice on which structure would work best for your situation.

Work With a Mentor

Having someone to bounce ideas off of and who has been through the entrepreneurial process before can be invaluable. Try reaching out to people in your network who have started their own businesses and see if they're willing to serve as a mentor for you. According to Small Businessify, a mentor will have the experience to point out your current strengths and weaknesses, and guide you towards strategies that will help you to grow. You can also contact your local Small Business Administration (SBA) office for assistance in finding a mentor near you.

Set Attainable Goals

One of the worst things you can do is bite off more than you can chew—especially when you're first starting out. It's important to set attainable goals for yourself and your team so that you don't get overwhelmed or discouraged along the way. Start small and gradually increase your goals as your business grows.

Seek Outside Help

Running a small business takes a lot of work and, although you probably can manage the many roles you‘ll need to play, you don’t have to do it alone. Contractors and freelancers provide great opportunities to get expert help on an as needed basis. But when you work with them, you may find yourself receiving a lot of PDF files in your inbox. This occurs because special jobs often require special programs, and your freelancer will not assume you have their design or accounting software. 

Luckily, PDF to Word converters will save time moving between file types. Plus, they are free and easy to use. Simply drop the PDF file you received into the converter, select a more editable file type (like .doc), and click Convert. You can now make changes to the file before sending it back to your freelancer.

Network in Your Industry 

Finally, don't forget to network! Connecting with other professionals in your industry is a great way to gain insights, learn about new trends, and make valuable connections that could benefit your business down the road. Call Rail recommends attending industry events, joining relevant online communities, and reaching out to other entrepreneurs—you never know where your next great connection might come from! 

Take the Steps You Need to Succeed

Starting a business can be scary—but it doesn't have to be! By taking the time to do some research, set attainable goals, and surround yourself with supportive people, you can overcome the fear of starting a business and give yourself the best chance for success. So what are you waiting for? Get out there and turn your entrepreneurial dreams into reality!

Join the Eden Chamber of Commerce to connect with local entrepreneurs and resources that can help your business grow.