Hello, Everyone. 

I`ve been wanting to start up my own business for years and finally decided to take the plunge.  I left my old job so that I could devote full-time to this venture.  However, the more I research, the more overwhelmed I get!  I begin to see all the risks and I start finding myself backing out of my plan.  I have always known that starting a business is risky.  However, now more than ever, I find myself obsessing over the risks and getting overwhelmed by all the things I need to consider (e.g., should i sell online?, apparel or accessories?, etc).  I have always wanted to open a clothing store but given all the competition around me, I am now thinking that perhaps an online store would be better but then, I feel as though I`d do better selling something less risky if I go online (since clothing seems to get returned a lot due to problems with fit, etc).  And, soon, my mind starts to spin out of control!

 I  know in my heart I want my own business but I am just terrified.  Financially, it`s a huge risk.  Has anyone else gone through this emotional rollercoaster?  If so, can you please share how you overcame your fear?  And, has anyone ever backed out of a plan and NOT regretted it?  I am trying to figure out how to tell when it`s right to back out versus move forward (though, like I said, in my heart I know I want this).

And, does anyone have advice on how I can tackle all the questions surrounding the type of business to have, whether to go online or get a physical store, etc?  Thanks so much, everyone! 

Garfield,

You have more guts than I ever had if you left a paying job before you had your small business ducks in a row. Life and business takes planning. This is a great place to start. I suggest you go back to the Startup Nation homepage and click on 10 Steps to Open for Business.

I`ve been in business for myself for over 20 years and I wish I had had this resource when I was starting up. My suggestion is to read everything within these pages and then re-read them again. Continue participating in this forum - great source of power and support.

Find your Definiteness of Purpose.

R@

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Richard Arnold · Key Concept Writers · Business Communication: The "Key" To Success· Law of Attraction Blog · Life Ain`t Brain Surgery Blog

I`ve gotta agree with Richard. To leave your old job first , THEN get to starting your own business is really interesting! Although I`m not a big proponent of fear, I do tend to agree that there`s nothing like fear to get us moving. It`s when that fear becomes overwhelming that the incentive fails.

One thing to hold onto firmly is that you take things One Step At A Time!

Ask yourself on a regular basis, "What can I do in the next 20 minutes that will solve this thing that`s got me tied up in a twist?" If you can`t do a single thing within those 20 minutes, let it go for now.

Secondly, I`m a big fan of lists. :-) To-Do lists, shopping lists, and other planning lists.

You`ve done a lot of research, and you`re at the moment overwhelmed. I`d start with a list: "What do I need to know, all of which is making me nuts?"

Write down the jist of what you`ve been researching. Don`t try to evaluate it, just put down a sentence (no more than two), and describe what you found in that research. Make a list of what you think you`re supposed to be doing to start a business.

For example, you likely found out you need a business plan. You found out you need accounting tools. You found out about Web sites, developing a product, finding a niche, getting advice, meeting people, networking, joining this or that, paying something else, buying whatever, and spending lots of money and time.

Okay. Write each of the things that`s in your mind on paper. It`s an odd fact of human minds that we can store between 5-7 "things" in our attention at one time. Add to that and we push one thing out into our long-term memory or we forget it. If we don`t push it out, it "falls out" of our head.

When you write these down, you`re using something like an external drive to supplement your short-term memory, before you put something into long-term memory. (It takes about a week for something to process from Now into long-term memory.)

By writing all these thoughts down, you`ll free up your general attention span. You then can look at the list, decide how to prioritize it, and spend your energies putting numbers in front of each thing. What will you do first, second, and third. Leave the rest for later.


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Craig Landes
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Defining the undefinable. "There are 10 kinds of people in the world---those who understand binary numbers and those who don`t." - Unknown

International Society of Curmudgeons

My gosh, thank you both for your helpful suggestions!  I know, part of me thinks me crazy for having left my job before having a business underway.  It was too hard to hold onto my old job and research this new career path.  And, I was so certain that this is my calling.  But, like I said, once out of my old job, I became so overwhelmed.  I found myself starting to back out and think about going back to what I did before.  That`s when I decided to look for some support.  I appreciate your suggestions and will try to stay motivated!

Garfield,
Don`t be afraid.Everyone is overwhelmed in the begining. As a business owner that is something thats going to be part of your life. If you where never a busy person, now that you have your own business you will find yourself loaded with work. I`ve been in business for over 5 years now and nothing has changed. I get busier. Don`t be afraid of the changes... be glad that you had the courage to go on your own. Don`t settle for the old "behind the desk taking orders" make up your own rules...

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Edgar Monroy
Web Developer / Owner / Consultant
When starting your own business the need to "know-how" is greater than money!
http://www.nuevolution.net

Due to the nature of accounting, I work with hundreds of clients who express the same fears that you have.  Owning your own business is definately a rollercoaster ride and is not for the faint of heart.

The best advise I can offer is a short sentence that I tell many of my clients:

It is better to have tried and failed than to live with the regret of what you could have done.

 

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~Kate / Allegro Accounting, Inc. / www.allegroaccounting.com / www.web-bookkeeper.com / Your one-stop shop for everything eBay/e-commerce accounting!

YES! exactly...
The suffereing is only temporarly... Once your business picks up you will be glad you did it.. I am..

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Edgar Monroy
Web Developer / Owner / Consultant
When starting your own business the need to "know-how" is greater than money!
http://www.nuevolution.net

Plenty of people will say, "Stay motivated!" That`s the ticket! :-D Oh sure. That`s easier said than done, sort of like George Carlin`s line, "Ya never hear anyone say, `Hey...hand me that piano.`"

You can`t force yourself to stay motivated. Either you are or you`re not. Motivation is a personal reason to do something, and the reason must have a compelling value...to you, not to someone else. Perhaps you mean to say that you`ll try to stay calm? :-)

Look at it this way: What`s the worst that can happen? You get killed and die. Well? Then all your fears will be over. But the best that can happen is you become successful. Then, all your fears will be memories of "those good old days," AND you`ll have the pride of accomplishment and winning to add into the mix!


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Craig Landes
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Defining the undefinable. "There are 10 kinds of people in the world---those who understand binary numbers and those who don`t." - Unknown

International Society of Curmudgeons

I`m so thankful I found this forum.  You all have been so supportive.  This is exactly what I need! Oh, and Craig, "calm" is indeed a better term for what I was trying to get at!

Hi Garfield,

You have to find your passion, your big WHy in order to establish a business. There are many affiliate programs you can join for free to get your feet wet, but you will still have to learn about marketing and advertising, so you are not loosing money. Your aim is to be cashflow positive, not bankrupt in 6 months. Belief me, I have seen many people come and go in the Network marketing Industry and about 95% fail without a doubt. But then you owe it to yourself to get started.

Whether in a traditional business, or online is not relevant. What is, is your WHY as this will give you fuel to stay motivated when the going gets tough and your freinds, family nag at you. Keep a vision, maybe design a vision board of things you like doing, and it will soon filter out what would be suitable and what not.

Just remember "Success comes to those who deserve it". Ask yourself, what would I do, if fear and money is not an option and then go and get them

To your Success

PS: you might like the following site which I found on google http://www.abundance-and-happiness.com/abundance.html 

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