While talking with a friend the other day, I realized that he was seeing the situation as having a lot of obstacles, rather than looking for opportunities.

Business owners always want more money than what they have to work with.  Speaking from experience, this is as true of a Fortune 100 company like AT&T as it is of a small established business like Illahe Lodge on the Rogue River or a new business like my friend wants to start. 

Too often, people like my friend are held back because they don’t have the $X (whatever “X” may be in their case), the education, or the experience that they believe is required to start a business.  Successful business people find ways to rethink the issue so that the obstacles are removed.  They can do this in a variety of ways including:

- Finding alternate funding sources, perhaps including sources that will help provide assets the business needs

- Starting smaller and growing their business as their knowledge, skills, customer-base, and abilities grow

- Simplifying operations to a level that is sustainable and expanding into other areas over time

- Building alliances with competitors, customers, creditors, or complimentary firms

The next time that you are thinking about starting a business, perhaps these ideas will help you see ways to turn “obstacles” into “opportunities.”

Filed by Coleen Davis at 6:44 pm under Achieving Goals, Business Acumen