5 Obstacles to Overcome before Starting Your Own Business

Are you getting ready to start your own business? Last year I released a guide on how to make this year the year you finally start your dream business. Maybe the timing wasn’t right or things came up that prevented you from taking the next steps this past year.

That's alright, you can start THIS year.

To help you make the next steps toward your dream business, I’ve created a list of five obstacles to overcome. (I have a feeling that some of these obstacles may be the reason why you didn’t take the step last year). Many of the obstacles preventing you from starting a business come from inside your own mind, making personal growth a priority. Keep reading to learn more about how to overcome the hurdles between you and your entrepreneurial dreams!

Obstacle #1: Your Limiting Beliefs

Whenever you believe in what you’re lacking instead of your potential, you’re giving in to limiting beliefs. There’s a saying that goes, “Whether you believe you can or can’t, you’re right.” In other words, the things you believe in can become a self-fulfilling prophecy.

The difference between fear and belief is about where you put your focus. Fear and belief both focus on future potential. Either could come true, especially if you focus on that particular outcome. When given a choice, choose to believe in the positive outcome. Invest in that positive future.

The main thing standing between you and your goals is YOU. The following are several limiting beliefs that might be preventing you from starting your business:

• I don’t have the money. If you’re letting the startup cost scare you away from starting your business, you may never get things off the ground. Take a hard look at your finances and look for ways to finance your business. Leveraging other people’s money ie. business or personal loans can also be a viable option, when you have a solid plan.
• I don’t have the time. You will make time for what’s most important to you. While there are certainly seasons where you can’t take on anything else, lack of time should not prevent you from starting a business. Ultimately, it’s your responsibility to rearrange your time to prioritize your business. There is ALWAYS enough time to make progress on your goals. I always say to my clients that there IS enough time to do all that you are called to do!
• I can’t actually be successful in my own business. Perhaps you’ve tried starting a business before. Or perhaps you’ve watched others fail. There are some scary statistics out there about how many new business ventures fail. However, believing you’ll fail is setting yourself up for failure. If you don’t believe in your business, there’s no reason for you to invest your time and money into it. Stop asking yourself, “What if it doesn’t work?” Instead, flip the question and ask, “What if it doesworks and I build the empire of my dreams?”
• Things can’t actually get THAT good or I can’t have it all. A thriving business may feel like the piece that’s missing from your life. Even so, having a thriving business may feel like more than you deserve. Sometimes we’re conditioned to think that we can’t have it all, so we force ourselves to bury those desires for more.
• I don’t deserve to have a thriving business. This is a serious limiting belief. Unfortunately, many people feel like they don’t deserve good things. Remember the promise in Proverbs 3:6, which tells us that when we submit our ways to God, He will make our paths straight. Trust in Him and trust in the good things He can bring your way. Abundance is possible when you believe in it.
• I don’t have the expertise I need to start a business. Never limit yourself by what you know today. Instead, make plans to help you gain the skills and knowledge you need to start or grow your business.

There was a study that followed the behavior of children who gave a portion of their marbles to charity (in the controlled study environment). The children who were praised for being helpful people were more likely to show generous behavior in the future than those who weren’t labeled “helpful people.” Their belief that they were helpful people caused them to act accordingly.

The beliefs you hold about yourself are so powerful for determining your future path. When you have limiting beliefs like the ones listed above, you can cut your potential short.

Obstacle #2: Lack of Knowledge

You need to invest in yourself to reduce gaps in your knowledge and skills, especially when you’re starting a business. Investing in yourself is not a selfish act. A lot of the moms I work with admit to rarely prioritizing or investing in themselves. They have been conditioned to believe that being selfless means to completely put others' needs above theirs, and to not prioritize or invest in themselves. They subconsciously believe it to be selfish. However, investing in yourself is not selfish. Instead, it’s a part of properly stewarding the gifts you’ve been given. To be a good steward, you must maximize your talents and invest in your future. If you’re going to do everything God has called you to do, this is an absolute necessity.

When you make the decision to get the support you need, God honors that decision. He provides the resources as you move forward in faith. However, you need to take that first step and have some skin in the game. Investing opens up both divine participation and favor. You must show with your actions that you believe in the dream.

Don’t be afraid to commit the time. If you don’t quit, and follow the right strategy and plan, you’ll eventually make it. Doctors go to school for years to make their money.  You can also invest the time necessary to make your dreams a reality.

Obstacle #3: Unwise Stewardship of Time

I’m always struck by the fact people would rather waste their time than invest their money. Time is a limited resource, but money is not. Therefore, you should value your time over money. Although you can use either time or money to grow your company, choosing to use your funds frees up your time.

Hiring support and outsourcing are important skills to learn, especially if you want your business to grow. You can always get money back, even if you have to turn to a lender for help. But you can never get your time back. Time can make you more money, but money can’t buy you more time.

When you invest time, you get money. When you invest your money, you can get more money AND free up some of your time. Now tell me: which one should you leverage? Leveraging your money to buy back your time is especially critical for mompreneurs who have other pressing responsibilities (ie. their kids and families).

Obstacle #4: Overthinking and Inaction

If you’ve been overthinking everything, it’s time to take action and go for your dreams. The truth is you can’t plan for and control all aspects of your business before you start. You may want to see the whole staircase before taking a single step, but faith requires you to step out even when you only see the first step.

Now, do not get me wrong. It is good to be prepared. In fact, good preparation is half the battle! But when your overthinking turns into anxiety and inaction, you’re no closer to reaching your goals. At some point, you’ll have to take the leap to move forward with your business.

Obstacle #5: Fear

Don’t let your fear, especially fear of failure prevent you from taking risks. There are so many fears that may prevent you from starting your own business. Some people fear starting small or being out of control. Others fear looking or feeling incompetent.

These fears are especially typical of high achievers who are used to being the best. If you are anything like me, you may fear starting out ‘small’ because you want to be the best at all times.  Or at least be ‘seen’ as the best. You’d rather have the security you currently have as 'the best' - or at least competent - in an unfulfilling job than risk the unknown where you will have to start from the bottom up.

I get it. Sometimes the “uncomfortable familiar” is more welcome than the unknown. You know what they say about the devil you know.  However, if you stay stuck because you’re afraid of the things that could go wrong, you’re preventing yourself from finding the greater fulfillment that comes from starting your own business.

Conclusion

The five obstacles above are ones most people face when starting a business. I know I have. When you make the decision to go for your dreams, getting a coach can be beneficial. Not only will a coach be able to walk you through the obstacles you’re facing, your coach can give you the encouragement and accountability you need to keep going and thrive.

If you’re starting a business this year, here's my advice for you: don’t do it alone and don’t be afraid to ask for help. Listen, if you were able to do it on your own, you would have done it already. So, go ahead and get the help you need, even if you grew up conditioned against asking for help.

To help you, I’m launching a workshop training on Thursday, March 24th for moms who want to start or grow their businesses this year. In this workshop, you’ll get the strategy and insight to help you take the next big steps in your business this year! Click here to sign up today. 

I will also share more about how I help Christian Moms go from working an unfulfilling job to growing a purpose-driven side hustle in just 90 days using my Kingdom MBA program to implement their corporate exit strategy in partnership with God.

Sign up for my FREE workshop now.