EXCUSES THAT SHOULDN’T STOP YOUR IDEAS

I’ve heard every excuse in the book from my students about why they’re unable to turn their ideas into reality. But the only way to succeed at becoming an entrepreneur is to have the courage to take that first, small step. Unfortunately, most of us tend to focus on everything we think we can’t do, rather than what we can do, rather than what we can do. As a result, we never even get started. It doesn’t have to be that way! I have listed (and rebutted) some of the most common excuses I hear below do any of them sound familiar?

I don’t have any experience

The truth is that you need less experience than you think. I bet most successful entrepreneurs would tell you they learned by doing. In fact, I think lacking experience can actually be helpful, because your fresh eyes allow you to see things differently. When I started a guitar pick company, I had never worked in the music industry before. I asked a lot of questions, used the internet to do research, found mentors in the business and recruited a partner who did have experience. But I was able to see opportunity when others couldn’t, because they were too close to the industry. They were artificially constrained by what they

thought was a given-I wasn’t.

I don’t have any time

Starting a company is a big commitment, I agree. It takes an incredible amount of time. But there are other ways you can bring your product ideas to life that require very litter time, such as license an idea. I always tell my students: don’t quit your day job, because you don’t have to (of course, to do so would be unnecessarily risky). You can successfully licence an idea by dedicating your lunch break and some time before and after work and on the weekends. Your licensee is going to do the heavy lifting. You just need to figure out how to get your idea to them.

I don’t have enough money

Today, there are a lot of options for starting a business. If you work smart, there is always a way to do something efficiently or less. I have been cutting costs for years, from hiring college students to doing graphic design work to filing for a provisional patent application myself, using excellent (and affordable) software. You can bootstrap your operation-and still be very successful. With crowd funding, it’s never been easier.

Protecting my idea is expensive

Yes, filing patents is very expensive. But that’s not your only option and it shouldn’t be a major deterrent. I cannot give legal advice, but filing a provisional patent Application is a great way to start out. Filing a PPA allows you to label your idea “patent pending “for up to a year. A year is more than enough time to rest the waters. Maybe you can find someone who is willing to pay for your patents. There’s really no good reason not to get started if you have genuine enthusiasm. Don’t let your fear of failure hold you back. If you want it bad enough, it is possible.

So what’s your excuse?

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