Why Is It so Difficult To Start a Small Business?

Why is it so difficult to start a small business?

Why do some people start their own business ?And the other one hasn't started yet.

What motivates individuals to start their own business, and how does this motivation differ from those who choose not to start a business?

How do personality traits such as risk tolerance, resilience, and creativity play a role in the decision to start a business?

What are the key skills and qualities needed to be a successful entrepreneur, and how can these be developed and nurtured?

Let's start with this short story:

Sarah spends $1,000 on a new smartphone.

Maryam spends $1,000 on a new computer.

Sarah spends $300 on beauty supplies.

Maryam spends $300 on an online course.

Sarah watches Netflix daily.

Mary reads daily.

Sarah always complains.

Mary is responsible.

Sarah wants to start a business.

Mariam started her project.

Now.. why is it so difficult to start a business?

Many people dream of starting their own business and achieving success, but most of them lack the discipline to do so.

In other words, don't tell me what you want to achieve - show me how you spend your time and money and I'll tell you how much you really want to achieve your goal.

You get to work and give your full attention to making progress, daily, compound—only then, will you see progress.

Now let's review the most important habits that distinguish entrepreneurs from the general public:

Habits of Successful Entrepreneurs

Successful entrepreneurs have many habits that help them achieve their goals and succeed in their businesses. Here are some of the most important habits of successful entrepreneurs:

Goal Setting: Successful entrepreneurs set clear, measurable, and achievable goals for themselves and their companies. They review their progress regularly and adjust their goals as needed.

Time Management: Entrepreneurs are masters of time management. They prioritize their tasks, delegate responsibilities, and make the most of their time.

Continuous Learning: Successful entrepreneurs are always learning and expanding their knowledge. They stay current on industry trends, read books, attend conferences and workshops, and seek mentorship.

Networking: Entrepreneurs understand the importance of building relationships and networks. They attend networking events, join industry associations, and network with other entrepreneurs.

Risk taking: Entrepreneurs are willing to take calculated risks in order to achieve their goals. They understand that failure is part of the learning process and they use setbacks as an opportunity to learn and grow.

Creativity and Innovation: Successful entrepreneurs are often creative thinkers and innovators. They are constantly looking for ways to improve their products or services, and they aren't afraid to think outside the box.

Perseverance: Entrepreneurship is not easy, and successful entrepreneurs understand that it takes perseverance and determination to overcome challenges and obstacles. They are willing to put in the hard work and stay committed to their goals.

Focus: Successful entrepreneurs are able to maintain a laser focus on their goals and objectives. They don't get distracted by the latest trends or fads and stay true to their vision.

Adaptability: Entrepreneurs understand that the business landscape is constantly changing, and they are able to quickly adapt to new situations and challenges.

Strong work ethic: Finally, successful entrepreneurs have a strong work ethic. They are willing to work hard and put in many hours to achieve their goals, they lead by example, and they inspire their teams to do the same.

By cultivating these habits, entrepreneurs can increase their chances of success and achieving their goals.

After we know the most important habits of successful entrepreneurs, where can we learn entrepreneurial habits?

Popular Places To Learn Entrepreneurial Habits

Personal Experience: One of the best ways to learn entrepreneurial habits is through personal experience. Starting a business, even a small one, can teach you a lot about the habits needed to be successful. Be willing to learn from your mistakes, adapt to challenges, and stay committed to your goals.

Books: “No Voice Can Beat the Voice of a Book” There are countless books written on the subject of entrepreneurship, covering everything from mindset to strategy to specific industries. Some popular titles include “The Lean Startup” by Eric Ries, “The 7 Habits of Highly Effective People” by Stephen Covey, and “The E-Myth Revisited” by Michael Gerber.

Online Courses: Many online platforms offer courses on entrepreneurship, taught by experts in the field. Websites such as Udemy, Coursera, and edX offer courses on topics such as business planning, marketing, and finance.

Podcasts: There are many podcasts available that focus on entrepreneurship and business, with interviews and insights from successful entrepreneurs. Some popular podcasts include "Entrepreneur on Fire" by John Lee Dumas, "How I Built This" by Guy Raz, and "The Tim Ferriss Show" by Tim Ferriss.

Choose the resources that work best for you and stay committed to developing the habits that will help you succeed as an entrepreneur.