Saturday, April 1, 2017

These 8 Groups of People Will Never Start a Business



Every entrepreneur I know is dismayed by the number of friends who approach them with a line such as “I have an even better idea that will change the world, and one of these days I’m going to get around to starting my own business.” I always wonder what is more important to them on an ongoing basis than changing the world, since their startups usually never materialize.

With the cost of entry to be an entrepreneur so low today, the common excuse of “lack of funding” doesn’t get much sympathy from me. People can build great ecommerce sites with free tools, smartphone apps in their spare time and use crowdfunding to bypass the dreaded angel funding and venture capital penalties. There must be something deeper that slows people down.

So if you have a great idea, and funding isn’t an overwhelming challenge, what are the real reasons that the world is filled with so many “wannabe” entrepreneurs that never get around to starting up?

Based on my own experience mentoring real entrepreneurs and likely candidates, there are at least eight categories of non-starters. I’m sure you will recognize someone you know, maybe even yourself, in one of the following groups:

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