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How To Overcome Common Start-Up barriers

If you gave most people the choice, they would likely choose to be their own boss. However, starting a business is not easy. The difficulties of starting a business often act as a barrier to keeping people from pursuing a dream. Barriers such as capital, ideas, employees, lack of time, etc. Luckily, there are ways to overcome common start-up barriers.

Capital

It would be next to impossible to start a business with no assets. Since money doesn’t grow on trees, people often give up on their ideas because they can’t fund them. The best ways to overcome this start-up barrier is by obtaining a small business loan or lines of credit.

Unfortunately, not everyone will qualify for a business loan or line of credit, which means digging into your savings may be the next option. This is a start-up obstacle that few attempts to overcome, but if you have the savings and a good idea it may be worth the shot.

Solidifying Ideas

Chances are that you already have an idea formulated if you are starting a business. Although having an idea is important, solidifying the idea will attract others. At some point, you will make a business pitch to either a bank, investor, or even to potential employees so you better make sure it makes sense.

Once you have your pitch nailed down, start practicing it so anyone could understand your vision. The more people that can comprehend your vision the more people will want to be on board.

Benefits/Insurance

If the investments are there and the ideas are solid, the only thing left is employees and benefits. In order to attract employees beyond the business pitch and salary, you may need to consider benefits. Depending on the business you want to run, you may need to carry certain insurances for your business as well.
The cost of benefits and insurance, however, act as another start-up obstacle for entrepreneurs. Overcome this obstacle buy shopping around for business insurance with Insurance Navy. Business insurance can benefit your business, employees, and products while being cost effective. There are plenty of policy options for every budget.

Time

Finally, we get to the ultimate barrier, time. Life is short, and people often can’t find the time to split from their current job to start a whole new life. On top of that, you may have a family or wanting to start one, which requires much of your time and attention.

Time is a large start-up barrier, but it is manageable. Setting schedules, forming routines, and deciding priorities can be stressful but the long term benefits may be worth it. Just make sure you are making time for self-care as well, your business can’t survive without you.

More Information

Would you like additional information about business insurance or maintenance? Our customer service team is here to help. Call us today at 1-888-949-6289 or visit your nearest Insurance Navy location. For your convenience, Insurance Navy is open from 8 a.m. to 9 p.m. CST, 7 days a week. 

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