Starting a business is supposed to be highly rewarding, exciting and challenging. You get to be your own boss, you get to set your direction and pursue the opportunities you are interested in. If you are working from home, you can even work in your pajamas or anytime you want.Yet not everyone can pursue entrepreneurship. Here are some common reasons why people don’t start their own business.
1. Fear of failure:
Starting a business is a big risk sometimes it will work, and sometimes it may not. Many are afraid of starting a business because of the looming fear that their business will fail. This fear may result from feelings of inadequacy, or they may have experienced past failures in their lives that they do not want to replicate the feeling with the very real risk of failure in starting a business. They may also feel incompetence, and plagued by self-doubts.
2. Inadequate resources to start a business:
They have little to no money to start a business. They also do not know where to find the capital they need to start a business. They have savings, no rich families and friends to borrow from, and they have poor credits that will not pass the banks’ lending criteria. So even if they want to start a business, the lack of capital is a huge stumbling block for them.
3. No exposure to entrepreneurship:
They have never been exposed to entrepreneurship so they did not consider starting a business to be an option for them. Everyone in their lives has worked, or is working, for someone else and so they have been conditioned to think that being an employee is the only path for them. Many entrepreneurs have parents or relatives who have started or run their own businesses, inspiring them to do the same and pursue the paths of entrepreneurship.
4. Don’t want the stress of entrepreneurship.
Starting and managing a business can be very stressful. It typically means understanding the market, developing the right products that will address the needs of the target market, and possessing the skills needed to jumpstart and run the business. All of these activities can be challenging, especially if things are not going well — from problems raising capital for the venture to generating more sales to finding distributors to the products.
5. Passion for their Jobs:
They found passion for their work in their jobs. They love their current jobs, and there’s nothing in the world they want to do but work in their current jobs. They already feel that the corporate world gives them the challenging, exciting environment that they crave. There’s no reason to resign and start a business because they have already found the perfect job for themselves.
6. Lifestyle choice:
They have made the conscious decision to live with less, where they deliberately reduce their consumption and cashflow. Hence, they do not see starting a business — and potentially earning significant amounts of money — as supportive of the lifestyle they wanted.
7. Views starting a business as tough, hard work:
There are people who work 16-hour workdays, or work in two or three jobs (aside from their full time jobs). But despite the hard work and the long hours they put in, they still have barely enough to live by. They are still living paycheck to paycheck. If they are already working that hard to earn a decent livable income, they think that starting a business requires double that effort, which they don’t want. Never give up on your dreams or goals I expound on this on my post “Dreams: Are They Worth It?”
Copyright ©2016 Jay Colby All Rights Reserved.
Jay Colby 
From first hand experience, owning a business is both the most rewarding and insane thing I’ve ever done. All four times. Lol.
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I agree 3 for me lol
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Concerning #2, sometimes people can make businesses with very little, to no capital. That’s what I’ve been building. The internet allows people to do things differently, like having an eBay business.
Great post. Be sure to check out my blog at groundruletriple.com
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Even a small internet business requires resources that some people might not have access to. Though this is rapidly changing. At the very least your time, an internet enabled device, and a connection. If you do have access to that then possibilities are endless if you choose to start your own business.
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Great post. Puts working life into context really. Look forward to reading more of your stuff
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true!
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I think number 3 is a big one. In my own family I was conditioned to go to college and then find a steady job with good benefits and a pension. It’s what everyone did. Not to say there is anything wrong with this path, but I literally have no idea how to think like an entrepreneur. Whereas it seems to come naturally to people I know who were exposed to parents and family members who have or had their own businesses. It’s a mindset, really.
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Very insightful point. I myself grew up in the same type of environment where working a job was the norm & anything outside of that would be not thinkable. Thanks for commenting!
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I think the two main things that brought out my Inner Entrepreneur was reading the book “Think and Grow Rich” and then realizing, about 10 years later, that I could make money as a freelance writer.
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Thanks for reading and I’m going to have to check that book out.
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I agree with your points. Great job🖒🖒
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Thank you!
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You nailed it again Jay! I enjoyed reading through it.
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Thank you!
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Great post. I work with new business owners consulting on initial matketing plans. Fear is definitely their number one stumbling block.
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Thank you & yes I’ve noticed that as well.
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This is exactly my problem, I want it so bad I just don’t know where to start or the resources 😩
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I understand I had similar problems when I first I started my brand. But one thing you can do is reach out to other people doing the same thing you want to do and network with them. This is a great way to build your network and get some great tips along the way.
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Thank you for the tips!
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Very true jay.People are always want to live in their own zones.They feared about everything before even entering.Good post to read.
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Exactly you make a great point thanks for reading!
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Great Article – I couldn’t agree more with all of it … The hardest part is not knowing what you don’t know. It’s what I base my blog on. Keep sharing, this is great!
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Thank you for reading!
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It can be very tough! It’s definitely not for the weak. Thanks for the great information.
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Thanks for reading!
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You are correct. #3 is a major factor. I do not believe entrepreneurship, as a career path, is encouraged. An entrepreneurial spirit can be intertwined with nearly any pursuit. Excellent post!
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I completely agree many times people discourage us from starting a business. This causes us to have doubt that we can do so before we even start. Thanks for reading!
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There is nothing like stress. If you love what you do, level of stress would be zero. Just think, when you were a little kid, you had climbed many trees. Even though you knew that you would not make it happen, but you did. Yes, you failed many times, but you loved doing that. Then, why can’t people sustain that sort of love when they grow up? Think accordingly. Live well. Peace.
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Great point if we love whatever we’re doing there won’t be much stress. If we’re truly passionate. Thanks for reading!
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Reblogged this on Simply Etta D..
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Nice post, Jay. So, is this a series where you give aspiring entrepreneurs tips for starting a business now?
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Thank you & yes I love giving tips to help anyone along the way!
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I’ve always wanted to start at least a small business of my own but I’m so attached with my current job and afraid to quit.
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Understandable the first step is usually the hardest. Thanks for reading!
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What an excellent post! Thank you for sharing such great insights. You’re investigating this kind of thing with both delicacy and aplomb. Well done!
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Thanks for reading!
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It is such a scary thing to start your own business. Fantastic post 🙂
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Thanks for reading!
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Most people don’t start a business out of fear of failure or late success since they don’t know about the business… Love the article.
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Good post !
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Thanks!
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It’s interesting how so many people are great at what they do for their boss and company but lack the confidence that they can do it for themselves.
After 10 years of working as an engineer I realized that I can provide the same services regardless of whether I work for a company or my own firm. The biggest difference, I now make the large percentage of profit that my previous companies made from billing my services.
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Couldn’t agree more, but what is to be done to overcome these barriers!?
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Many times one is if you really want something in life go after it. With everything you have no matter what obstacle one might face keep going and never give up!
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There is always a level of risk in taking on these new challenges. But how do you feel about options such as seeking out a mentor? Or shadowing fellow entrepreneur to get a better understanding of the types of challenges that lay ahead for the new start-up?
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That’s a great idea to get a better understanding of the challenges you may face. Researching and networking with people is always great idea before we actually start to pursue anything in life
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I agree with you. Getting a mentor is a great way of learning and progressing towards your goals. Also he can warn you about upcoming obstacles and provide some shortcuts!
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You can also join different organizations who provide support and organise different seminars, from which you can learn a lot! In Slovenia we have Ypsilon where you can meet like-minded people and network with people from different fields.
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Great insight thanks for sharing!
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#2 resonates as lack of resources contributes to my aimless ambition.
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On the flip side (and in my case) once you work for yourself and realize what you can accomplish there is no way in heck you want to go back to working for someone else. It’s empowering and waking up every morning doing what you love is amazing! I remember having these reasons prior to owning my own business however.
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Nice post. I know many people who feel this way! In return I’ve started my own business that promotes entrepreneurship and motivates people to achieve their dreams. Check out my blog! It would mean alot! You have great content btw!
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Reblogged this on balabhaska and commented:
Reasons didn’t work on with business seasons
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Reblogged this on Eri Talk.
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Reblogged this on Coopon.
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Right, i also want to start my own business but problem is resource, i just want some resouces(assets). At the end your article is great and very knowlegable thanks for sharing with us 🙂
Regard
Enterfuntech
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I understand that it can be challenging without resources. I’m glad you found it helpful!
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Reblogged this on WittyInzight.
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I appreciate the great insight. I’ve tried and know it.
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There is one rule in business. Buy low, sell high. The rest is
learning as you go along, & trail & error. Like all things in life.
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Very true thanks for reading!
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Indeed .. Most of them just leaves it after a defeat or loss ! It drastically reduces their confident to move on or improvise
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Great Article by the way !👍👍
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Should also add that in a lot of cases now, a lot of business majors and future entrepreneurs can’t create businesses because they don’t have any money DUE TO the evil student loan debt.
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Great point thanks for sharing!
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Excuses
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Thank you for this !!! I know having a business is something that I’ll be doing but boy am I scared of failing 😩 I’ll get through it tho !
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I understand that was my fear at first, but it gets easier once you get started.
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Sales reluctance is a major fear.
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Firstly, minimize your risk by sales testing your product – don’t be satisfied with self-belief to carry it through, but harvest the opinions of others. Then test your ability to sell – not everyone has this, and it is not an easily acquired skill. Unless you are passionate about people you will never be ablle to work hard enough to succeed: nine-to-five is not a self-employed option. But the most important one – make sure you cary your family with you: trhe privations of those early years cannot be borne alone. Others around you must accept less, too.
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Those are all great points thanks for sharing!
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Very insightful! Thanks 🙏🏽
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hi, just posted my first blog check it out..
How I Started Making Money At 13 years of age…
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Great Insights!! Couldn’t agree more.
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Thank you for sharing. From what I’ve seen. The biggest obstacle is fear of failure. People fear how others will view them if they fail. This fear of judgement and the risk of losing face is pervasive in today’s society.
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Great info! I’m definitely sharing
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