The 5 Lies Prospective Entrepreneurs Tell Themselves


If you want to be an entrepreneur, what's really stopping you?

Most people have wanted, or have at least considered being an entrepreneur. It's an appealing lifestyle--you get to make your own hours, hire your own people, build something new, and hopefully, reap the profits of the endeavor. Unfortunately, most people never become entrepreneurs, even if they have a great idea for a business.

Why is this?

In my experience, it's because people lie to themselves, talking themselves out of the idea before giving it a fair shot. These are the most common lies I hear:

1. I'm not the entrepreneur "type." Yes, there's a common perception that the common entrepreneur is young, energetic, extroverted, and crazy about technology. This isn't always true, though. I've met tons of successful entrepreneurs, including shy, introverted, conservative ones who don't know the first thing about coding. Don't sell yourself short.

2. I can't leave my job. The prospect of leaving your career is scary, but who's to say you can't eventually go back? If your company won't have you back, what's to stop you from going somewhere else? There are always options, and as long as you don't burn bridges, no door is closed forever.

3. It's not the right time. Spoiler alert: it's never the "right" time. There's no such thing as a perfect time to start a business, so if you're waiting for that perfect moment to come along, you might as well get started now.

4. I don't have the money. It takes a lot of capital to get a business off the ground--that much is true. But just because you don't have the personal savings to handle it doesn't mean that capital is inaccessible to you. There are dozens of funding options available, from crowdfunding to angel investors, as long as you make the effort to look.

5. My idea isn't good. This is likely true, but the implication is that it "can't" be good, which is a lie. Every idea starts out bad--good ideas are just bad ideas honed and refined to something better. Give it some work, and you'll be amazed what you can come up with.

If you truly want to be an entrepreneur, there's nothing that can stop you. Your idea will need work, and you won't become a success overnight, but if you put the work in and have the passion, anyone can start their own business and live to tell about it.

This blogger graduated from Goldman Sachs' 10,000 Small Businesses program. Goldman Sachs is a partner of the What Is Working: Small Businesses section.