Alas, you’ve done it. You had the grit to launch your own business, but now it is having some trouble taking off. Don’t panic, you are not the first to combat these issues.

If you are in the process of starting your own business, you can prepare for the possible issues before they even come. Here are the most common roadblocks when it comes to starting your own business:

Fear of Failure

In a survey of professionals, 20 percent of them reported that the reason they haven’t started a business is because they are afraid of failing. It takes bravery, persistence, and a giant leap of faith to start your own business. Anyone can have a great idea for a startup business, very few follow through with it. Be the one that follows through.

Lack of proper funding

Every business has its basic expenses. Determining what your business’s expenses are from the start is a head start in combating insufficient funds for an idea you may have later down the road. Ensure that your budget is big enough for your ideas.

Building a reliable team

A key part of starting your business is finding other people who are as passionate about starting it as you are. Starting your own business is not something you can do all on your own. You need a partner or a few to build it from the ground up with you. Your critical partner, co-founder, mentor, or talented team member is a vital piece of the beginning of your business.

Loss in the attention of consumers

Apprehensiveness about the success of your business initially is expected. Will others be as passionate about this as you are? Is it going to sell? It all leads back to the question, “will someone actually want this product or service?” Prepare for different outcomes when it comes to customer interest. Don’t bank on one idea, have a couple of back-up plans when it comes to grabbing and keeping the attention of consumers.

Starting your own business does not happen without a challenge or some resistance. That is normal. These roadblocks should be brought to your attention as you start your own business or even as you are preparing for it. Be proactive and persevere!

Article by
Abigail Dycus
Content Writer and Researcher

Abigail Dycus