What do you think is the number one thing that holds people back from starting a business?

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Jonathan Prime · Accepted Answer

Starting a business involves taking risks, and some people may not be comfortable with this. The fear of losing money or failing may prevent them from taking the necessary risks to make their business successful.

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Starting a business can be expensive, and many people may not have the financial resources to get started. Without access to funding or the ability to secure loans, it can be difficult to get a business off the ground.

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Bilge Demiroğlu · Answer

I think the fear of failure and not being able to manage the funds well in the first stage are influencing factors. Also, most poeople suffers from insufficient capital.

Robert K Simpson · Answer

It's essential to understand the market and the competition before starting a business. Without conducting proper market research, people may not have a clear understanding of their target audience or the demand for their product or service.

Carmen Judson · Answer

Starting a business involves a degree of uncertainty about the future, and some people may not be comfortable with this. Without a clear plan or vision for their business, they may be hesitant to take the leap.

Magic Mike Paine · Answer

1) Fear of failure
2) lack of capital
3) lack of support and resources

K John · Answer

Starting a business requires a range of skills, including marketing, finance, and operations. Many people may not have the experience or knowledge needed to manage a business successfully.

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Sometimes people can overthink and analyze their idea and the market too much, leading to a state of analysis paralysis. They may never feel ready to launch their business because they always find something they think they should add or change.

Mark Curz · Answer

Some people may have a perfectionist mindset, which can make it difficult to launch a business. They may feel that everything needs to be perfect before they can get started, leading to procrastination and inaction.

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Shannon Coulon · Answer

@carmen_judson Thanks for responding Carmen! Yes, "fear" of the future, uncertainty, and risk seem to be a common response. Earlier today we filmed a podcast talking about how to overcome this initial fear holding people back.

Shannon Coulon · Answer

@mark_curz Interesting take, Mark! Yes, sometimes the most important aspect is just getting started.

What do you think is the number one thing that holds people back from starting a business?

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