Starting a new business can be a daunting task. No one is really sure if they'll succeed, or if failure is over the next horizon. Each industry has its own quirks, and as a new entrepreneur, it's hard to know where to start—or how to solve problems, once they develop.
You might think that you're the only one going through this second-guessing and self-doubt. That's not the case. Every new entrepreneur has one or more moments when they start thinking twice about what they're doing, or whether they're even up for the challenges they've taken on.
To help better identify some entrepreneurial fears people can face, as well as what can be done, we asked members of the Young Entrepreneur Council to discuss what aspects of starting a business scared them the most, and how they set about overcoming that hurdle in order to find success. Here is what they said:
At the beginning, I was most concerned with whether I would be able to make enough money to cover my expenses. In my first business (started in high school), the expenses were minimal, but by the time I was graduating college and moving out on my own, all my friends were getting jobs and I was wondering if the work would keep coming long enough to cover rent. In my next business, the financial concerns were more for my team—could I continue to pay their salaries, give raises, add benefits, and be competitive in the market? The concern never goes away, but I've gotten a lot better with budgets and projections to ease the worry. - Chris Ronzio
Read more here.