How to Break the 5 Biggest Barriers to Starting a Business

barriers to success
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Many cubicle workers hate their jobs and secretly wish they could start a business. It’s the Dilbert environment with an overbearing boss watching every move and taking credit for good ideas that feeds the dream of entrepreneurship.

If ever there was a better time to start your own business now would be it. Entrepreneurs today have access to a wealth of knowledge, a variety of support sources and reduced startup costs.

But it's not always that simple. There are many challenges that come with the decision to start a business. Here are five of the most common barriers to success and how to overcome them.

1. No Money

Having enough money to start a business is one of the biggest reasons many entrepreneurs give up their their dreams of business ownership. But you can create a successful business by bootstrapping it in the beginning. Forget the fancy office, the cool CEO chair, or glossy four color brochures. It doesn’t take big dollars to start a small business. Over 48% of the Inc. 500 started their business with less than $20,000.

2. No Time

Working a full-time job, raising a family and enjoying a weekend out is the common time-filled life when you work in cubeville. Time is a resource we can control. If you’re going to be a successful business owner, mastering time is key. Startups require sacrifices. You have to be willing to give up the weekends to build momentum.

3. No Benefits

Let’s face it, stepping out of the corporate world without benefits can feel like walking a trapeze without a safety net. It can be easier for a younger, healthy worker to forgo health benefits offered by a company. For the Baby Boomer startup entrepreneur, health benefits remain a top concern.

Think through your decision, use your spouses plan or consider the optional HSA’s (Health Savings Account).

4. No Family Support

It’s difficult enough to give up the comforts of the corporate world to start a business. Without the support of your family and friends the journey can be even more challenging. To win the support of your family, take the time to explain the business and build a solid business plan. If others can see how you have taken the time to think it through and minimize the risks, they will be more supportive.

5. No Courage

Dig deep enough and you will often find the reasons for not starting a business are excuses. The biggest barrier to overcome is yourself. Fear is present in all entrepreneurs. An interview with Tony Magee, the CEO of Lagunitas Brewery, on MyPrimeTime says fear is a strong motivator. Fear drives him daily to succeed. It’s a matter of learning to accept fear as a silent companion you can beat everyday.

Departing from the cube life takes dedication, guts and a little chutzpa. Millions of business owners have succeeded. Take the plunge today and join the entrepreneurial revolution.

Edited by Alyssa Gregory.