Nothing to stop you striking out with your own enterprise

Have you ever walked around your office, been pulled into a social interaction or listened to your executives talk about ideas you consider meaningless and thought to yourself that you cannot wait to leave and start your own business?

You are not alone. Almost everyone I meet dreams of owning a small business and having control over when they start and end their days and where they work.

Although some of my acquaintances found their true calling and quit their jobs to follow that dream with a smile plastered on their faces, many are still stuck in the same place and have not pursued what they secretly wish for.

Whether it is a lack of a business concept, funding or adequate knowledge, these obstacles can prevent you from kick-starting your business and reaching your full potential as an entrepreneur. Today I will walk you through some common barriers and what you can do to overcome them:

Lack of finance.

Perhaps you already know what kind of business you want to run, have drafted a financial plan and know the exact location of your office, but you lack funding. It is this type of obstacle that can eat at you day in and day out. Once you have an exact definition of your business idea, it is important to realise what kind of financing you need. Some business ideas require a bank loan to help finance them. Others are small enough to require only angel investors or family members and friends. Some do not want to mix family and business, and that is totally understandable. Nowadays there are many different ways to obtain financing, whether through crowdfunding platforms such as Kickstarter or through business enterprise development funds such as the Khalifa Fund.

Training and knowledge.

It is true that many people became accidental entrepreneurs, but many still require training, especially if they want to venture into a field they have no background in. The truth is, you do not necessarily need to obtain an MBA or go to college for your specific business idea. There is an abundance of free information accessible online that could teach you everything from learning your way around software such as Photoshop to how to draft a business plan and how to direct at your target audience using social media platforms. Also it is wise to keep in mind that learning by doing provides the best kind of knowledge. No matter how many classes you take or articles you read, there are things you will only learn by trial and error – and there is nothing wrong with that, because failure is often followed by success. Thomas Edison, Steve Jobs and young entrepreneurs such as Jon Oringer, the founder of the stock photography agency Shutterstock, all failed before getting it right.

Finding the right idea.

This is perhaps the most challenging obstacle of all. You may have the energy, drive and finance but not the right concept. Or maybe you have too many ideas jumping around in your head but do not know which is the right one to pursue. If you are having trouble finding the right idea, look around and analyse the situation. Many product and service ideas stem from the lack of something in the market. Speak to your friends and people around you and find out what is bothering them or what they feel is missing. You can do that through the formation of focus groups. They do not have to be in a formal setting, but could be run casually over a meal.

Also if you have too many ideas in your mind, follow the one that you are most passionate about – the one that you can see yourself enjoying, the one that you will not mind missing sleep for to see it become fruitful.

While running a business will never be obstacle-free, it is good to know how to overcome elements that could prevent you from even starting your business to begin with. Find out the right idea, match it with the right form of funding and make use of free educational resources. You will be surprised at how empowered you will become and you may not be stuck in that job for much longer.

Manar Al Hinai is an award-winning Emirati writer based in Abu Dhabi. Follow her on Twitter: @manar_alhinai

Follow The National's Business section on Twitter