I am the type of person who can come up with business ideas on the spot, but I came up with one today that I really started to elaborate on. They say that businesses are created from a need, and I think this product will fill a need in my life, as well as others’ lives. This would be a product in the CPG food industry.
I come from an immigrant family who grew up with pretty much nothing. Some of my family members have achieved the American dream of owning their own businesses. It wasn’t/isn’t my intention to achieve the American dream, but I do believe that I have the passion and drive to push my business idea forward because I think it has potential. I also believe that I work better independently, rather than for a large corporate company, for example.
This product idea really excites me, but I am scared of starting a business. To be quite honest, I don’t have any capital (yet) to begin this business because I just graduated college and have a lot of student loans which I’ll have to start paying back plus credit card debt. This product could be made in my own kitchen, but of course, it would take a lot more time and effort on a smaller scale, which I’m happy to try doing. And then, what if my product fails? What if I am left with a lot of inventory that I can’t sell? What if people don’t like my product? What if the competition is too fierce? That is where my mind immediately goes, but I am trying to think of what could go right instead.
I think I need to talk to a business mentor or entrepreneur first who has experience in the CPG food industry to pick their brains and to get advice.
How do I get over my fears of starting a business and who can I talk to?