How To Overcome The Big Five Obstacles Between 9-5 and Solopreneurship.

From my experience helping employees either become completely independent 1-person business owners or create a simple side-income while keeping their job, I’ve found 5 perceived obstacles most claim hold them back from starting.

I want you to smash each one of these out of the park.

What’s most fascinating is not what the obstacles are but the impact they have. When an aspiring solopreneur is trapped in this perceived limitation, it can cause no-action and feeling of “being stuck” for years!

Years of tolerating the same life, the same results, the same experiences. Are you prepared to give up years of your life? I hope this newsletter helps you make a firm decision that you aren’t.

This is why it is so important to constantly be questioning everything and raising our own awareness.

What’s more, you don’t need all of them to be stuck, one is enough to keep you down and your dreams crushed.

As you read through each one, reflect on your own situation and evaluate yourself. Be as objective as you can no matter what phase you’re at and get curious. Ask yourself, what would more or less of this or that do for me in this category? Try it and see what you discover.

Let’s dive in and see which apply to you:

Time

Our most valuable and finite resource is one of the biggest challenge aspiring solopreneurs struggle with most, especially if working full-time and/or when you have children and a family to care for.

The thought of “finding the time” to plan or get started in its very self keeps many stuck. You will never “find the time” unless you make time for it.

Very often, these people use the word “time” instead of “energy” and procrastinate when it comes round to thinking about getting started.

It always amazes me how these people are always able to take the time to watch Netflix or spend two hours in the supermarket every week…

BonusL Connected to time is Age. So many people tell themselves they are too old for a particular venture or for change of any kind. It breaks my heart when I hear this, if only they could see what I see, for themselves!

No ideas

“I’ll start when I develop my idea…”

This is a much more dangerous phrase than it seems. This has the potential to keep you shackled for a very long time because the person actually believes they are working on it and moving forward.

Wrong. They are keeping themself stuck.

Sometimes it’s no ideas or not the perfect idea. These two extremes are equally as damaging.

Bonus: Another sticking point in this category is having shared an idea you’re enthusiastic about with a relative or friend only for them to completely shoot it down, along with your optimism and self-esteem.

Resources

“I love the idea of building this but it will cost a fortune and I don’t have that kind of money to invest..”

Another pre-solopreneur favourite is a flavour of “I can’t afford it”. People stop themselves from starting because they imagine the possible costs and expenses and either don’t currently possess or don’t know how to generate the start-up capital.

People who are in this jam often recite the phrase, “It takes money to make money”.

Support

“I don’t have anyone to help me that I trust…”

This was one I used for years. It’s true that despite being a solopreneur, I love working with other people and I let go of several businesses because I felt alone. It got lonely and wasn’t fun anymore.

Support is useful but not a necessity in the beginning.

Know-how (knowledge & skills)

“I have no tech skills whatsoever, how could I ever start a SAAS company?”

This is where universities cash-in. So many people believe they need a qualification or certificate in order to start a business.

I’m a big advocate of education and up-skilling but too many people fall-into education mode and stay there, never fully convinced they have enough knowledge or experience to start the business or practice.

I’m going to briefly give my solutions to each challenge and then share what the real solution to all of this is.

Time

You will ALWAYS be busy so you need to prioritise and make time for what you want.

It may require dropping another less-priority activity, waking up an hour earlier in the morning, watching less TV in the evening or asking someone to help with a time consuming task to free you up.

Whatever it is, you can create 2 hours to dedicate to changing your life.

If you can’t, show me your calendar and I’ll help you.

No ideas

If you don’t have an idea, start looking for problems. Search in your home, neighbourhood, online and in conversations with friends. They are everywhere, just activate your R.A.S (recticular activation system) and note down everything you discover.

If you an idea, any at all, do not judge it. Investigate it. Do some research and understand how many people need the solution and whether they’re willing to pay for it. Then judge whether it’s good or bad.

Resources

What is the most basic version of your idea (MVP)? How much does it cost to produce and test? How can you do it for free? Could you even be paid to test it? Is a company or manufacturer willing to make a prototype for free or in exchange for something other than money?

You may need other types of resources, which and who or what has access to them?

There are people all around you with the resources you need. Share your project with them and ask them for input.

Support

You don’t need outside help yet. Just get started and decide whether you’ll need help once you know this thing is going to work.

Know-how

Many entrepreneurs have no idea about the industries they find themselves in. What they do know is how to connect people, create solutions, find resources and create possibilities.

When you’re starting out, it makes sense to do something that you already have knowledge and understanding of so leverage your subject knowledge and expertise and make it easier for yourself.

Remember, you don’t need to know everything nor be an expert. Be a researcher and learn and adapt constantly.

The truth is: you are afraid.

The real reason you aren’t starting a business is because you’re afraid and to prove to yourself that you are not, your mind comes up with a long list of things you need before you can start.

How To Overcome The Fear

1. Admit your fear (to yourself): whether it’s the fear of taking a risk, being out of your comfort-zone, afraid of losing money, time, face or just making mistakes, it’s normal to feel this and is actually a good sign. It shows you care, just don’t let it stop you.
2. Dissect it: break it down so you understand what specifically scares you. You can then understand whether it’s something that is necessary, irrational, solvable or other… You can manipulate and eradicate it.
3. Start small, start with a test: Test your idea with 0 expectations, and if you can, approach it as a game. Start with 1 person you trust. Ask them if they have the problem you are solving and ask if they would buy your solution. Try this with 1, then 3 then 5 people.
4. Get that first dollar. Set the bar so low that you can’t fail. Even if you give your solution away for $1, even if that makes you lost money, do it! Earning that first dollar can skyrocket your confidence.
5. Advanced technique: Reflect on similar or more challenging scenarios in your career and life. How did you face and overcome them? What techniques, skills, approach, people, emotions did you use? Apply what worked there, here.

If you’re still terrified, write to me.

Final thoughts

The 5 most common obstacles stopping most people from creating a new income stream or starting a business idea are (usually) excuses we create to mask our fear of failure.

You’ve learned how to recognise and overcome this.

What does this mean for you now? What will your next step be?

✍ Your thoughts?

♻️ Share with someone who needs to read this.

Stefano