The 10 Scariest Things about Starting a Business Online

by Adella Pasos June 29, 2018
start-an-online-business-marketing-strategy

The 10 Scariest Things about Starting a Business Online

It can really be a turbulent undertaking to start a business online. In fact, there is no guarantee that once you start a business, you will succeed. Many online businesses are springing up every day, and many are also failing in geometric proportion.

Some entrepreneurs are in business for years, yet they have little or nothing to show for their efforts. The idea of leaving your paid job to kick-start a business to many really provokes anxiety. After a careful research, here are top 10 scariest things about starting a business online:

The Economy

Some of the fears people have about starting a business online, is because of how the economy is doing. If the economy is performing poorly, many startup entrepreneurs will be skeptical to get started. But, keep in mind that when people say that the economy is hurting, while some business owners will be crying, some people in other sides will be happy, because it is during those times that their business thrives.

Uncertainty

Uncertainty is another thing that discourages people from starting a business online. Unlike working in a paid job, business ownership doesn’t provide you with guaranteed income. Your income is commensurate with your profits or sales. So, some entrepreneurs have the fear that their online business may not be able to provide for them and their family.

Indecision

Many entrepreneurs are undecided when it comes to choosing the type of business they should get involve with. Sometimes these are people who want to be self-employed, but have little or no idea which part of business they should get involved with. If you want to start a business online, it is important you know the type of business, and why you want that business.

Debt

Debt can be one of the strongest things that scare people from starting a business online. If you are being weighed down with credit card bills or student loans, you will really find it difficult to get any form of start-up financing. In this case, if your business makes any profit, the funds will go straight to your creditors. This constitutes fear to most would be business owners.

Family Responsibilities

Financial obligations are not the only thing that scares would be entrepreneurs from starting a business online. In the early years of your business, you may find it difficult to spend little time with your families, because you will be so much preoccupied with your business. If you are investing 12 hours or more to the business, you will see that you have little or no time for your family, unless you have an office at home. To most people, this is one of the things that discourage them from starting a business online.

 

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Lack of benefits

some would be entrepreneurs are skeptical on starting a business online, because they fear that when they start a business, they will no longer benefit from  401(k) contributions or employer-provided health insurance cover. `Some fear that a lack of coverage can have a devastating consequence to them and their families.

Lack of Business Plan

Some would be entrepreneurs don’t know how to write a professional plan, knowing who are their target market,  what they need, what you will be selling to them, your cash flow and lots more. If you don’t know how to write a business plan, you can get a professional to write it for you.

Handling tough customers

Some people lack the capacity to handle tough customers. They fear that they may not have the skill to handle tough questions and enquiries from difficult customers. This situation is enough to discourage them from starting a business online.

Lack of capacity to research current trends

You can’t succeed in an online business, if you don’t run the business with the most current, innovative mindset. Some people fear that their inability to follow up with current trends will make it difficult for them to do the business.

Hiring the wrong people

As a would be entrepreneur, you will find it difficult to do everything for yourself. So, you will have to hire the right people that will help you to achieve your vision.

Fear of the unknown

Many people fear starting a business online simply because of fear of the unknown. They fear that they lack the capacity to run the business. They fear that they may fail. They fear that they may not be able to hire the right talent. They fear that they may not be able to make enough money. They fear over everything. This fear discourages them from taking the bull by the horn.

How important is it to you, to start your online business?

 

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