In the business world, it is often said that there are two types of people: those who seize opportunity and those who wait for it. The ones who seize opportunity are the ones who take action, and the ones who wait are the ones who procrastinate.
In most cases, the difference between these two groups is simply how much risk they are willing to take.
The ones who take risks tend to be more successful, because they are not afraid to fail. They know that failure is a part of learning and that it is only through trial and error that they will eventually succeed.
The ones who procrastinate, on the other hand, usually have excuses like fear of failure. This fear often paralyses them and prevents them from taking any action at all. In some cases, this fear may be justified; after all, starting a business is not without risk.
Procrastination is the avoidance of doing a task that needs to be done. It is often characterized by putting it off until the last minute, or not starting it at all.
Procrastination can lead to stress, anxiety, and guilt.
What is procrastination, and how does it relate to starting a business?
Procrastination is when we put off doing something until later, usually for reasons like fear, laziness, lack of motivation, etc.
The problem with procrastinating is that it leads to stress, anxiety, and frustration. When you start a new business, you need to be prepared to work long hours, which means you cannot afford to waste any time.
If you do not start working on your business right away, then you may never get started at all.
Procrastination is a common habit that can have negative consequences in all areas of life, including starting and running a business.
Watch this awesome video on “Inside the mind of a master procrastinator”.
Procrastinators often put off tasks they find unpleasant or challenging, leading to poorer results and increased stress.
While there are many reasons why people procrastinate, it’s important to understand how it can impact your ability to start and grow a business.
2 Main Types of Procrastination
There are two main types of procrastination: task-based and avoidance-based.
- People who procrastinate on tasks often do so because they feel overwhelmed or uncertain about how to start. They may also fear failure or disappointing others.
- Avoidance-based procrastinators avoid tasks altogether because they’re afraid of making a mistake or not meeting high standards.
Both types of procrastination can be harmful to your business.
- Task-based procrastinators tend to make fewer sales than their non-procrastinating counterparts.
- Avoidance-based ones often fail to meet deadlines, which can lead to missed opportunities for growth.
Both types of procrastinators can cause stress, which leads to poor health and performance.
The good news is that you don’t need to wait until the last minute to get started. There are ways to overcome procrastination and start your business sooner rather than later.
Here are some tips to help you overcome procrastination and get moving toward your goal of starting a business:
- 1. Know what you want to do.
- 2. Make a plan.
- 3. Do your best to stick to the plan.
- 4. If you need help, ask for it.
- 5. Don’t let yourself get distracted.
- 6. Take breaks when necessary.
Let’s understand the process with the following 11 steps:
1) Start small.
Many people think they must tackle big projects right away, but this isn’t always necessary. Instead, start with smaller goals and build up from there. Smaller steps will give you more control over each step, which will reduce feelings of uncertainty and overwhelm.
2) Set realistic expectations.
Don’t expect to launch an online store overnight. It takes time to learn everything you need to know about running a business. Be patient and set realistic expectations for yourself.
3) Get support.
Having someone to talk to can help you stay motivated and focused. You might consider joining a local entrepreneur group, or talking to friends and family members about your plans.
4) Find mentors.
Mentors can provide guidance and advice as well as offer encouragement. You can also benefit from mentorship by asking experienced entrepreneurs for advice.
5) Keep track of your progress.
Keeping track of your progress helps you see where you’ve been successful and where you still need improvement. This will motivate you to keep going.
6) Reward yourself.
Reward yourself every time you complete a milestone. For example, if you finish a project early, reward yourself with something fun like dinner out or a new pair of shoes.
7) Celebrate success.
Celebrate milestones along the way. Whether you celebrate a sale or a completed project, celebrating your successes will boost your confidence and motivation.
8) Have patience.
Patience is key when launching a business. Patience means being willing to take things one day at a time.
9) Learn from mistakes.
Mistakes happen. The important thing is to learn from them. When you realize you made a mistake, try to figure out why it happened and then use that knowledge to prevent it from happening again.
10) Stay positive.
It may be tempting to dwell on all the reasons why your idea won’t work. But instead, focus on all the reasons why it could work.
11) Ask questions.
If you’re stuck, ask other people for help. A mentor, friend, or even a stranger can point you in the right direction.
Why do people procrastinate when starting their own business?
People often procrastinate when they start their own businesses because they don’t know what to do next. They may also be afraid of failure, which makes them feel like they need to wait for someone else to tell them what to do.
However, if you want to succeed at something, then you must first figure out how to do it yourself.
Bonus Tip: “The best way to learn about starting your own business is to talk to other entrepreneurs who have been through the process.”
It takes a lot of time and effort to get a business off the ground, and many people don’t want to put in the work. They would rather put it off until later, when they may be more motivated or have more time.
Let’s understand the reasons one-by-one.
- Fear of failure
They may be afraid that their business won’t be successful, and they will lose money. This fear can prevent people from taking the necessary steps to get their business up and running.
The fear of failure can be so daunting that it paralyses us into inaction. We convince ourselves that we’re not ready, that we need more information or that we’ll start tomorrow. But tomorrow never comes.
You can stop fear of failure by
- 1. Taking action now
- 2. Learning from others’ experiences
- 3. Being patient
- 4. Keeping an open mind
- 5. Having faith
- 6. Not giving up
- 7. Surround yourself with supportive people.
And lastly remember that failure is just part of life. Failure doesn’t mean you are a failure; it only means you tried. So go ahead and try!
- Lack of knowledge or experience
They may not know how to create a business plan or how to market their product. Without this knowledge, it can be difficult to get started.
In addition, some people lack the skills required to run a business. If you are an artist, writer, designer or musician, you might not have any previous experience in these areas.
Not knowing what to do next is a genuine problem. Most people put off their dream of starting a business because they lack knowledge or experience in the area, or because the task feels daunting and insurmountable. But if we’re ever going to achieve our goals and fulfil our dreams, we have to start somewhere, isn’t it?
So how do we overcome our fear of starting something new?
By taking small steps, one at a time.
“Break the project down into manageable tasks, and then take the first step towards completing them. You’ll be surprised at how much progress you can make when you focus on one thing at a time. And before you know it, you’ll have crossed the finish line and achieved your goal!”
Many people don’t know what to actually do once they launch their business. They think that they should just sit back and relax while others handle everything.
But this isn’t true. In fact, most successful entrepreneurs spend hours every day working behind the scenes. They manage their finances, keep track of their sales, write blog posts, send emails, etc.
If you want to become a successful entrepreneur, then you must learn to delegate. It’s okay to let others do things for you, but only if you trust them and believe in their ability to complete the job.
If you’re worried about delegating, here are two tips to help you overcome your fears.
1) Find a mentor who has already gone through the same experiences as you. They can provide valuable advice and guidance.
2) Get feedback by asking friends and family members to give you honest feedback. Ask them to point out where you could improve and what you could do better.
Once you’ve taken those initial steps, you’ll feel less anxious and more confident about moving forward with your plans.
- Being a perfectionist
Being a perfectionist can be paralysing when starting a business because they want everything to be just right before they take any action, and this can often lead to putting things off indefinitely.
In order to overcome this type of procrastination, it’s important to set realistic goals and deadlines, and to break down tasks into smaller steps. It’s also helpful to find a supportive group of fellow entrepreneurs who can offer encouragement and accountability.
You can stop being a perfectionist by setting realistic expectations.
Let’s Sum Up
Procrastination is one of the biggest obstacles to starting any business.
When starting out, it’s best to start small. Don’t try to do everything at once. Instead, focus on just one thing and build yourself up slowly. You’ll get much further if you’re not overwhelmed by trying to do everything at once.
Write down your goals and priorities on paper. Then, review them every morning and night. Remind yourself of your goals and priorities and visualize how far you’ve come since last week.
When you see progress, you’ll feel inspired to continue moving forward.
Patience is definitely a virtue when it comes to building a business. Don’t expect instant results. Just keep working hard and eventually things will begin to happen.
If you’ve never done something before, then you should probably learn about it first. Learn how to use social media platforms, write content, create websites, etc. Before you jump head first into any project, make sure you know exactly what you’re getting into.
It’s okay to enjoy yourself while you work towards your goals. But don’t let yourself become distracted by having fun. Keep focused on your goal and remember to take breaks throughout the day.
Once you know what you need to do, create a step-by-step plan. Break down each task into smaller tasks and set deadlines for them. Then stick to your plan.
Do something every single day that moves you closer to achieving your goals. For example, if you want to start blogging, schedule 30 minutes each day to write.
Or if you want to become a better writer, read books related to writing every day.
Whatever your dream is, do something every day that helps you achieve it.
Failure is part of success. Failure is inevitable, but it won’t kill you. Learn from your mistakes and grow stronger from them.
Failures teach us valuable lessons and help us improve ourselves.
Instead of beating yourself up over failures, learn from them and move on.
Make sure you stay organized. Use folders to store files and organize your workspace. Also, make sure you always have a notebook handy to jot down ideas and notes.
And don’t underestimate the power of networking. Find local businesses who could benefit from your services and ask for their help. In return, offer to help them out.