What is the Greatest of Entrepreneurship Obstacles?

Many people never overcome the obstacles to entrepreneurship, even though they dream of owning their own business. A lot of them have great ideas, but it's a rare few that actually take the plunge and do it. Why is that? You've heard people recite a list of entrepreneurship barriers including a lack of money, credit, time, and connections. But, I don't believe any of those represent the biggest obstacle, nor are they the most difficult part of entrepreneurship. Heaven knows entrepreneurship doesn't require great grades in school or good looks. This obstacle is far more subtle. Entrepreneurship requires that founders deal with ambiguity.

Inability to cope with ambiguity is the biggest single obstacle to entrepreneurship.
Entrepreneurs start up their businesses without knowing how a lot of things will turn out. They have to live with a high level of ambiguity- more than most people can tolerate. With the dream of having control, also comes the stress of being unable to answer many questions.

• Will customers pay for your products/services?
• Will you make payroll and cover your overhead?
• Will a competitor overtake you?
• Should you hire someone or do it yourself?
• What is the best way to market?

All these questions represent obstacles, if you let ambiguity stand in your way.
There are hundreds more choices to be made that create ambiguity, ranging from small decisions to trivial considerations, to critical options that can make or break you. You have to decide if you're doing the right thing without really knowing, until time unveils the answer.

As an entrepreneur, I go to bed and wake up nearly every day wondering if I'm right or wrong, or if there is a better way. Oftentimes I have to make a decision without all the facts and information that I'd like to have. The outcome of your decisions may not be clear for days or even years. And yet, if you let ambiguity slow you down too much, or stop you from making decisions, it will paralyze you and destroy your business.

Overcoming Entrepreneurship Obstacles Arising from Ambiguity

Having identified entrepreneurship's greatest obstacle, what can you do about it?
If you can't handle the ambiguity, then the stress of entrepreneurship could destroy your ability to enjoy your life. But there are some concepts that help me adjust to living in a constant state of ambiguity:

1. Just knowing that it comes with the territory can help you to come to terms with the feeling.
2. Don't put off your decisions. Make a choice and change your mind if you have to.
3. Trust your gut. The subconscious mind has an amazing ability to process all the information there is, some of which you are not even aware of. It can provide you with an instinctual sense of the right decision, or at least the right decision for you.
4. Delegate a decision. If you have confidence in another person who may have more knowledge or expertise, and you trust this person, go with his decision. This person could be an employee, a partner, a consultant, or trusted adviser.
5. Expect good and bad luck to come your way.
6. It's OK to be wrong! Nobody says you have to be perfect. You may not be able to undo a decision, but you can deal with the consequences.
7. Understand that tolerating ambiguity is what makes you special, and gives you the ability to survive as an entrepreneur. Revel in your feelings of ambiguity!

If your heart is set on entrepreneurship, but you would like to diminish obstacles stemming from ambiguity, consider another approach: franchising. One of the appealing aspects to a franchise business is that the franchisor has worked out much of the ambiguity, and packaged his choices into a formula. It may not be your "special sauce" but it is still your business!

Rest assured, that people do often learn to adjust and come to terms with the otherwise uncomfortable sense of not really knowing what the heck will happen next year, let alone the next day. Maybe it's part of growing an entrepreneur skin. You too can overcome entrepreneurship obstacles related to ambiguity.