One of the hardest barriers to overcome when setting up a business, whether it’s the first time or not, is fear. But not just any fear. More often than not, i’ve seen fear of loss discourage some potentially smart ideas and resourceful people from taking that crucial step forward. It’s not as easy as it sounds of course. In almost all aspects of business, fear of loss is a greater motivator (or hinderance) than the hope of gain. I think we’re all conditioned that way so naturally, those who have the least to lose are those who are the most likely to start something. 

It’s likely the problem also has its roots planted in time. Businesses, especially the new ones, are a big financial risk. But if you’re in your mid-twenties and screw up, big deal. There’s a line-up full of people at McDonnald’s who are in their twenties and broke. The same doesn’t apply if you’re 37 with a wife and kids. Regardless of the group though, starting a business is akin to leaping over a huge gap. It’s not enough to just jump though, it’s also important to be ready, to maintain the right momentum and have good timing. It’s a huge leap, but it’s just one leap.

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