5 Biggest Reasons Why a Person Doesn't Think of Starting a Startup

5 Biggest Reasons Why a Person Doesn’t Think of Starting a Startup

A startup is a risky affair, but it’s still worth doing. The startup journey is tuff, but the reward is also amazing.

I firmly believe that Entrepreneurs are the people who work toward making this world a better place to live.

But many people give up on their dreams and never take steps to start a startup. They keep on living a mediocre life. Sometimes, they blame their parents, their family, lack of money, their situation, or make some lame excuses to justify their reasons why they could not start the startup. They treat themselves as a victim of the circumstances.

So, let’s understand some of the common reasons (or you may call them excuses) why people don’t think starting the Startup

  1. There is a Big Risk
  2. We should have a huge Money to Start
  3. I have no idea where to start from
  4. I am too Young or Old
  5. I have no Business Idea
  6. I started a Startup but failed
  7. I am not educated enough
  8. My family doesn’t allow me to start
  9. I am a girl or lady

There is a Big Risk-

It is the biggest reason why we never thought of starting a startup.

Due to our upbringing in a society where starting a business is always considered risky, most of us never try a business. We are never taught to take the risk. Moreover, we want to lead a safe & secure life.

Nobody encourages us and says that you should start a startup.

Look, the risk is everywhere in life, and just because a startup has the risk, it is not a good idea to give up on your dreams. Do you think there is no risk in the job? I believe this pandemic has opened up your eyes. You must have learned that there is no security in the job either. There was no security in the job before, not now, and will not be even in the future.

If you believe in yourself and desire to fulfill all your dreams, then it’s worth taking a chance.

We should have a huge amount of Money to Start-

It is another big reason most of us do not start a startup. We always think that it requires huge amounts of money to start a successful startup.

You indeed need money to start; there is no free lunch anywhere.

But let me tell you that you need skills to start a startup; if you have the skills and are passionate enough, you will manage the finances. Money is never a bar in starting up a startup.

If you don’t have money to start then, learn a skill, monetize it and start your dream startup. You will find a way If you are passionate about your dream.

So don’t make money as an excuse for not starting up.

I have no idea where to start from

Many people want to start a startup, but they don’t know where to start. They don’t have a clear picture in their mind.

It is because of a lack of proper guidance. Entrepreneurship is not taught in schools or colleges; there is nobody out either who can guide us properly.

We are ready to spend lakhs of rupees on our formal education, which hardly makes us a living, but we hardly want to spend a few thousand bucks on a startup course that can make us a fortune.

It is a very sad but a fact. However, if you are ready to invest in your personal growth and learn, it’s not tuff to start a startup.

I am too Young or Old

It is another big reason for not starting up.

Ritesh Agrawal was just 21 years old when he founded Oyo. Tilak Mehta was just 12 years old when he founded “Paper and Parcels,” a startup that is making revenue in crores. Aadithyan Rajesh was just 13 years old when he built “Trinet Solutions” which provides Web Design and Software Development services. Falguni Nayar founded Nykaa at the age of 50. The list is endless.

So please do not make yourself a fool by making this excuse saying I am too young or old. Age is just a number; if you have a keen desire and passion, you can start a startup at any age. So there is no age to pursue your dreams. Start Today, Start Now!

I have no Business Idea

It is one of the biggest reasons for not starting up. Most aspiring entrepreneurs want to start a startup, but they don’t have a Startup Idea.

It is a very common scenario with a lot of young entrepreneurs. And, sometimes a wantrepreneur has more than one idea and cannot decide which one is the best to start a startup.

But there is a process of validating your business idea, and if you follow that, you can easily find out and decide the idea to work upon. I have explained this in detail in this book.

I started a Startup but failed

I started the Startup but failed miserably, and now I can not start again.

Most entrepreneurs are not successful at their first attempt, but it doesn’t mean that you have lost the battle.

Mr. N.R. Narayana Murthy started his journey from IIMA and built a small startup called Softronics. But the Startup failed miserably, and he joined Patni Computer Systems. But Mr. Murthy was a big dreamer and a real warrior. So he established another company with his six other partners. Today, Infosys Technologies is known as one of the most highly successful IT firms globally.

After failing, it takes immense hard work, dedication, and perseverance to succeed, and that’s the most significant quality of an entrepreneur.

I don’t have a formal degree-

It’s a big myth that you have to be highly educated to succeed in the startup world. This perception is made because we see a lot of IITans and IIMs alumni raising massive funding and building startups these days. But this is a complete myth.

There are many examples of college or even school dropouts who are building a multi-million dollar company. So formal education has nothing to do with your Startup. It is never a bar in your success.

My family doesn’t allow me to start

I understand this very well as I have faced this personally. Unfortunately, no one from my family was in favour that I should start a startup.

And when I failed in my initial startups and got into huge debt, they used to say- “We knew that you would never succeed.”

But if your dream is big enough, these facts don’t count.

Please don’t take your family wrong because they think they are helping you from a big risk by stopping you from startup. It happens because of our conservative thinking. They believe a startup is a risky thing, and you may waste your career, time, and money by starting up. We have discussed this at the beginning of this book.

But, this is you who need to take action to fulfill your dream of becoming an entrepreneur. Sometimes, you need to go against the circumstances to do something bigger. If you have a big vision and really desire to fulfill that then nobody can stop you, not even your family.

I am a Girl/Woman-

Society believes that a man can only run a startup successfully, and business is meant for men only.

But this is not true; there are a lot of female entrepreneurs who have built huge businesses.

Nykaa’s Falguni Nayar, PepsiCo’s Indra Nooyi, Biocon’s Kiran Mazumdar Shaw, VLCC’s Vandana Luthra, Zivame’s Richa Kar, Yourstory’s Shradha Sharma, BeautyGlad’s Kalpana Sharma….the list of successful women is endless.

So, please don’t hold yourself back just because you are a young girl or a woman.

It is true that our startup ecosystem is still not favourable for women in India, and there are many factors that discourage a woman from starting a startup. There are a lot of additional challenges a woman has to face in the startup world. But, the situation is changing very fast. You can still build a successful startup even in these odd situations. I know you are strong enough to overcome the challenges.

So these were some of the reasons or you may call excuses for not starting a startup. Apart from these, there are many other reasons why we don’t think starting up. This book breaks all these myths and excuses for not starting a startup.

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