Another good article from Inc. Magazine.
I think the title “15 Terrible Excuses for Not Starting Your Own Company” is a little harsh, but they address some of the many obstacles people believe they face. Particularly numbers 6: “I Don’t Have the Money” and number 9: “I Don’t Have a Great Idea.”
Most start-ups start with less than $10k and only 13% received start-up capital from banks. Getting money from banks is difficult but not impossible. Also, getting the entire amount from one source is great, but often times, getting multiple loans from various sources is necessary. The good news is I can help you find money for your business. I used to work in buy-side institutional investing (i.e. I looked for where the big fish can invest their money) so I know what investors/lenders are looking for.
Number 9 makes a good point because creating the next wheel is not going to be easy. However, improving on the wheel is easier. We all have ideas on how to make an existing product or service better. If you are looking for an improved product or service, chances are others are too. My international marketing professor from graduate business school always said, “Find a market (i.e. a group of customers), then make a product. Don’t make a product, then find a market.” People looking for an improved wheel is the market. Now you have to go an improve on the wheel.