Starting your own online business, Part 3: Having the right mindset

We're finally here: the third and final instalment of my series about Starting Your Own Online Business: The Good, the Bad, and the Ugly. If you missed Part 1, you can click here to catch up. It's all about the good things that you will love about starting your own online business. For Part 2, click here.

Once you're up to speed, it's time to move on to some of the really tough parts about starting your own online business.

Brace yourself.

Your Own Worst Enemy - Mindset Matters

When it comes to starting your own online business, your biggest challenge is almost always you.

That's right. The ugly, secret shame of entrepreneurship that no one wants to talk about?

It's self-doubt.

Is there a nagging voice inside your head telling you that you're not ready to start your own online business? That it's not the right time? Is it whispering in your ear that you're not good enough or smart enough to get your online business off the ground? Maybe you are waiting until your product is absolutely perfect, or until you lose some weight, have more money in the bank, find more hours in the day, etc. etc.

Here's a tip - start NOW!  Those goal posts you've set yourself will keep stopping you from fulfilling your business dreams because after all starting a business is scary.  It's putting yourself out there, making yourself vulnerable to the whole world.

Self-doubt is the number one reason why so many women fail in their efforts. It's not that they weren't good at selling or running a website. It's simply that they started to believe the negative voice inside their heads telling them they couldn't succeed.

Did I have doubts when I started my online fashion business iland co? Of course! If I had listened to those negative thoughts, I never would have been able to make it a success — I'd have given up way too soon. The trick is to replace your negative thoughts with positive action:

• Negative Thought #1: You don't know anything about running this business. This thought is dangerous because it might be a little bit true — but it's missing a crucial word: yet. You might not know anything about running this business yet, but you can easily solve that.

Take Positive Action: Study up on your business model with online research, trips to the library, and help from experts in your community.

• Negative Thought #2: You're too small and/or plain to get noticed. You are small when you start out, but that doesn't have much to do with getting noticed at all. Size isn't everything, and you should never equate success only with profit.

Take Positive Action: Brush up on marketing basics and implement a plan to get your business in the public eye. A great website, headshot, and good design can help.

• Negative Thought #3: You can't afford to do this now. It's too expensive and/or risky. There are lots of home businesses that cost very little upfront, so this negative thought might not be true for you after all.

Take Positive Action: Go over your personal finances with a fine-tooth comb before starting your business, and set a budget that you feel comfortable with so you don't invest more than you can afford to lose. Knowledge is power, and having a solid grasp of where your money is going at all times will alleviate this common fear.

It is no surprise there are loads of coaches and online courses on money mindset training, particularly for women.  Women are so hard on themselves in all areas of life.  But you know what, you can overcome this self-doubt and feel like you are enough.  But it takes work and daily.  Here's a great money mindset course that I've personally done myself and revisit regularly when I have new money blocks I need to overcome.

Naysayers and Negative Nellies

As if overcoming your own doubts wasn't enough of a challenge, you'll also be faced with doom-and-gloom types who are eager to share horror stories of business failures. You may even have close friends and relatives who will discourage you from following your dream.

If these people are mere acquaintances — or worse, the dreaded frenemy who is always trying to undermine you — they don't deserve your time. Sure, it can rattle you at first to hear that someone doesn't believe in what you're doing, but consider these naysayers like flies at a picnic. They're a pain, but easily brushed off — after all, you didn't invite them anyway. Practice nodding politely as you say, "Interesting. I'll keep it in mind." Only you need to know that those words are code for "I'm ignoring everything you say!"

It's harder to deal with people who are close to you, especially when you love and respect them. Let's assume that these people — your close friends, for example — really do have your best interests at heart when they offer warnings and dire stories about small businesses gone bad. They probably want to protect you from financial troubles, and that's ok. I think a good way to handle it is with a dose of the "interesting" response you give to strangers, but with an added line or two explaining that you appreciate their concern but have thought everything through and are going to give it a try. It can also help to honestly ask them for their support and positive energy — sometimes family members don't quite realise that their comments can be hurtful or are even scaring the daylights out of you!

Making the Leap

Dealing with self-doubt and the naysayers in your life is the ugly part of starting your business, but the good news is that these obstacles tend to fade away the longer you stick with it. If you're struggling with those nagging thoughts, it helps to have support.

Sometimes a little coaching makes all the difference, and it gives you backup when you need to face the negative people in your life. Trust me — I've been there, and I know just how you feel!  I business coach has been instrumental in my own success and I will always have one to mentor me through the different stages of business.

Do you already have a business in the works and looking for a coach and mentor to help you stay on track and provide strategies to stay focused on the path to success?  Get in contact with me now to book your free discovery call.