The 8 most common excuses for not founding a startup

02.09.2021 | Written by Ole Peterson

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The 8 most common excuses for not founding a startup

There are many excuses that people bring up to talk themselves out of making the step and bringing there startup idea to the market. Here is what we mostly hear:

1. “I don’t even know about economics”

Founding a startup does have something to do with economics and is in fact a very economy-related thing. But, what’s to know exactly? You want to earn more money than you spend, by selling a certain product or service. You don’t need to know how a central bank works and what implications the interest rate policies have for the world’s economic situation.

What most people might be specifically thinking of when using this excuse might be taxes. But seriously, you’ll pretty much have to get a tax consultant anyways if you don’t happen to be one yourself. If you count in the hours you need for doing all tax-related things yourself, it is most likely even cheaper to pay a tax consultant.

2. “I don’t have all the necessary skills”

What are the necessary skills? You are not going to do everything on your own anyways and will need to ask yourself who the best possible partners might be in your case. This article talks about this topic more in-depth. Your most important skill is to have the vision and the courage to do something with it.

3. “I can’t even code”

If there only was a CTO-as-a-service kind of thing… You might want to check out our offers and see if we might be a possible match for the development of your product together.

Sometimes a meme says more than words.. Sometimes a meme says more than words.. | © Ole Peterson

4. “I can’t invest so much money into a startup”

Then don’t! Validate your business idea and use a bootstrapping approach with Pre-selling to finance your business. This way you come to the market fast and big investments with uncertain outcomes are not necessary.

5. “I don’t have time for running a startup at all”

You will be surprised how much time is actually necessary to start something up. Research even suggests that part-time founding leads to a 33% higher likelihood of not failing the startup, as you make smaller steps and have more time to see in which direction you are going. In fact, even famous founders like Jack Dorsey from Twitter started their business in a part-time manner. Click this article from the Forbes magazine for a more in-depth discussion of part-time founding. Part-Time founding could be seen as driving a car slower: You might arrive a bit later but you are way less likely to crash.

6. “I prefer to have more security”

The steps mentioned above regarding big investments in terms of time and money also apply for this common excuse.

7. “No one is buying that anyways”

Validate your business idea! If you see then that no one would buy it, you can still let it be or try modifying your business plan. Try to modify it at least 5 times, if it doesn’t turn out to be something that might work, it’s a fair enough excuse.

We often say that founders rarely have the perfect startup idea. Founding a startup is a transformation from “just an idea” to a business idea. And any transformation implies change.

8. “I am not the type of person for this”

We hear this all the time, unfortunately. Why shouldn’t you be the type of person for your very own business? All stereotypes of founders or of how they should be don’t have to apply for your own business. You choose yourself how you are going to run it, so you are always the best person for your own startup.

Wrap up

When founding a startup you surely have to commit to it to a certain level, financially as well as time-wise. But it is not as hard as most people think it has to be if you do the right things from the very start. By validating your idea, getting early customer feedback, building an MVP first, and also do Pre-Selling with a bootstrapping approach not too many things can go wrong actually. There is absolutely no need for quitting your job immediately and taking up a big loan on top of spending all your savings on the business (Seriously: Please don’t do that!). By taking small but well-thought steps you can achieve a lot in very little time.

Our development guidelines are to build products that are actually useful and only have the necessary features at first. Besides keeping the development cheap it serves you to come to the market as fast as possible and get customer feedback for further development. We also like to help to sign first customers to make the development even less of a financial burden.

If you have any other things in mind that hold you back from realizing your business ideas: Feel free to talk to us! We founded many startups together with a lot of different people who all had their very own obstacles and doubts and we can surely help out. You can contact us through our contact form or you can book an appointment with us here.

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