A large online store, asked its clients, “What almost prevented you from launching your ecommerce store?” Before we read their answers, what would your answer be? There are many stumbling blocks but what is the premier hurdle for you? What brings you to your knees and makes you say, “I quit?”
Common answers to the online survey were:
- “Sheer laziness from unfounded fear.”
- “Couldn’t figure out the right product to sell.”
- “Time poor, fear of failure.”
- “Not being sure about the product, the marketing efforts seem a bit overwhelming, too.”
- “Don’t know really. Bit scared to take the next step without getting myself in debt. I don’t have all that much to invest.”
(https://smallbusiness.com/digital-marketing/starting-an-online-ecommerce/)
Analysis indicates product development issues were the most common problems.
Other concerns included: A lack of money, time, and experience. Fear, marketing, perfectionism, store design problems, buying inventory, choosing a niche, and lack of strategy also caused people to falter.
Summarizing the above resulted in developing two main failure categories for new entrepreneurs: Fear and Lacks.
Fear was the most common issue reported by new entrepreneurs. Fear dressed in all colors, shapes and sizes. Looking at the near future and deciding there are too many problems produced anxiety which then caused confusion, self-doubt, and disordered priorities which then produced emotional paralysis. Owners reported they needed to remove fear before they could open their stores.
The second issue to overcome was a “Lack of something”. The lack of resources included: Money, knowledge, time, support, and courage. In many ways the lacks and the fear are related. If a person felt a lack of courage they were really reporting a fear that an insufficiency would result in failure.
The truth is that just as a journey begins with a single step, so does a business. Most microbusinesses begin with few to no resources. One should expect a lack of time, knowledge, inventory, and skills. One of the worst fears is a lack of customers.
Potential store owners must forget their fears in order to step into business. Time and energy can translate into money that can be used to buy inventory and services needed for a business. The future begins with a dream and the first “I can do this” decision.
The internet provides many services for micro business owners. What you can’t do or perhaps don’t want to do can be purchased online. So learn from store owners who almost quit before starting their business. Everyone has fears and insufficient resources but not for long. You can do this.