5 reasons why many are afraid of scaling down the size of their idea to start their business with as little money as possible

Many people have great business ideas, know what they want, how much funding they need to start, how to get their first customer and all that.

Sometimes they might even have a product ready for the market.

What they might not have is the capital to turn their idea into a business.

 Note that Niabusiness has linked to some of the resources on this page (some listed below) using affiliate links. When you click on something and purchase it, Niabusiness will receive a commission from every successful sale / referral, at no extra cost to you. 

When we talk of turn most of us mean this:

Say, I have an idea to start a daycare centre, my thoughts and efforts during the idea phase will normally cloud my mind with:

  • all these pictures of amazing things I get to buy to start the business in a unique way,
  • the idea that more money can help me differentiate myself from my competitors and
  • tens of ideas on how to create a picture that people who will be paying for my services already have in their mind – in other words, trying my best to get enough money to create the exact picture that plugs right into their preconceived notions of what a great daycare centre should be like.

That way, I can afford to think that the chances of them calling, visiting my website, reading my blog, finding me, knocking on my door or opening their wallets increases just a little bit – to justify going after and funding the idea in the first place.

How it works in the real world

Sometimes, you and me are right to do all the things I have mentioned above.

The problem is: there are no guarantees that the more the amount of money used to turn an idea into a business, the more the business is likely to grow, fast, and become successful.

Therefore, the reason or reasons behind avoiding starting a business with what you have, waiting, looking for more funds to start you off should be looked at carefully. For when you do, you’ll be in a better position to judge whether the reasons are all but rising out of fear or not.

Many times we hear or read about business success stories and come up with these crazy assumptions that, once in awhile, even no amount of research can seem to shake.

These stories sometimes influence people and what happens next is that a person then gets fixated on getting a certain amount of capital before they can start their business, company or startup.

Without the capital they have in mind, they then just keep postponing opening their doors to buyers.

Why aren’t more people scaling down the size of their business ideas?

1. They don’t want to

When reading the ebook, 10 Things to Look at if You Are Thinking of Starting a Business, you will find that some people just don’t like the idea of increasing the gap between where they are and the big goals they’d like to achieve.

To them, it is like telling a runner to take a few steps back so that it will take more effort to reach the real starting point and the finish line of a marathon or race they have to run.

In this list of business ideas, there’s a very interesting example: starting a shop instead of a supermarket. How many people can scale down their idea to that level then committing themselves to working to reach the original idea, keep going, never looking back?

Very few.

Why? Because scaling down demands more effort, patience, discipline, creativity, innovation, credibility, and courage from you…since the chances of the scaled down version of the original idea turning out as envisioned is almost zero and the pain that comes when one takes this route, invests money in this version of the idea only to fail can be too much.

Some would do all they can to avoid such an experience. To some failing at an idea that is just a dumbed down version of their original and main idea is just too big a deal.

Tell them to go this route and they’ll just stare you in the face and say I can’t, no reasons given.

2. It will take them more time to reach their goals

In the shop and supermarket example above, the time factor is another reason why people fear scaling down their ideas.

When someone tells you to start with a tiny shop when all you want money to start is a supermarket , it can be a little bit discouraging.

Suddenly you see more years added to your business to reach goals you think you could reach quickly, if you had the capital you wanted.

It could take you more time to reach certain goals when you scale things down. But that’s not often the case. There are people who scaled down their ideas and found that once they opened their doors to customers, they gained altitude real fast.

Your mind may tell you to wait, to not go down the route of dumbed down versions of ideas, to start big, and you can be convinced to wait, to start there, at the level that reassures – but doesn’t guarantee – you of reaching your goals faster.

Until you add your product or service to the market, you won’t know for sure whether starting now with a scaled down version of your idea would turn out to be a great decision compared to waiting three to twelve months or a few years more when you think you will have enough capital to start without scaling down your idea at all.

3. It’s hard to be taken seriously

This happens a lot to new businesses.

One way some people decide to boost their credibility and be taken a lot more seriously is to wait, not scaling down their idea – because scaling down will show others that they don’t have money, that they aren’t serious, that the lack of money therefore means their offering is inferior compared to what their competitors have in the market already, or that their business is headed down hill…to a hard crash that can only be summed in words like massive failure, debt and more debt, bankruptcy or dodo.

Who wants to do business with an entity that can easily attract such words?  they reason, then jump to conclusions like, ‘Very few. Perhaps, no one. Not me!’

Being taken seriously means a lot to business owners. It is part of what keeps them waking up to improve their companies every single day.

When you can’t be taken seriously, it gets hard to get contracts, to get people to look your way and buy from you, to get referrals, to get repeat customers or to make a little more – which can then be reinvested back in growth.

With your idea scaled down, you can still be taken seriously – because this is one thing that has very little to do with how big you are. You will just have to put more effort in proving that you’ll keep the promises you make.

With more effort, you can nail down this thing. Extra effort can help you make your products more appealing in the eyes of those you want to sell to – and when you keep the promises you make to prospects and customers, you will be taken seriously, no matter how tiny your business is.

4. The hours one works a day can be too much

When you scale down your idea, sometimes it means having no, or very few, people to help you move up the ladder.

No employees.

That could mean doing everything yourself which could lead to this: a clash between your business and family.

On one hand you’ll want to spend more time with your family, but on the other hand, you’ll want to not only come up with great products.

You’ll also want to put in more effort in the business so that it is able to support you and your family financially… to trim some of the debts you may have etc.

In situations like this, some are more likely to postpone launching until they have money enough to hire employees or pay for the services of a high quality freelancer.

Having contractors help you with some of the work when you make the choice to scale down and start right away can still lead to great things, leaving you just enough time for your family and business.

5. They fear someone else can copy their idea

That is what some people think when they see themselves as small fish surrounded by sharks. Waiting till you have the money to fully implement your idea, can that stop others from copying it?

Waiting may not stop some person, perhaps offering a product or service similar to yours, with more money and influence from copying your idea (or coming up with an idea like yours without even knowing you were thinking of the same), taking it to the market, building a business around it and taking over the same market you hoped to sell to – sealing almost all your planned points of entry.

But the market is usually big enough for products that are similar. Get yours out there and add on it as it attracts more revenue.

What can you do?

Remember that scaling down business ideas, startup, company, service or product isn’t recommended in every situation. It has its own advantages and disadvantages.

Do your research. And read the free ebook 10 Things to Look at If You Are Thinking of Starting a Business.

Then choose courage over fear – because, sometimes, that propels you further in business than any amount of money could.

Niabusiness Recommendations – Tools, Resources

Book Recommendations – Buy & start reading these ebooks on your device now

  1. The Miracle Equation: You Are Only Two Decisions Away From Everything You Want by Hal Elrod
  2. The Art of War: Complete Texts and Commentaries by Sun Tzu, Thomas Cleary
  3. Secrets of Self-Mastery by Mitch Horowitz
  4. Master Your Emotions: A Practical Guide to Overcome Negativity and Better Manage Your Feelings (Mastery Series Book 1) by Thibaut Meurisse, Kerry J Donovan
  5. Coleman’s Laws: Twelve essential medical secrets which could save your life by Dr Vernon Coleman
  6. The Elements of Moral Philosophy by James Rachels
  7. Loving Your Spouse When You Feel Like Walking Away: Real Help for Desperate Hearts in Difficult Marriages by Gary Chapman
  8. Renovating Your Marriage Room by Room by Dr. Johnny C. Parker, Jr
  9. The Billionaire Who Wasn’t: How Chuck Feeney Secretly Made and Gave Away a Fortune by Conor O’Clery
  10. Here’s The Deal: Everything You Wish a Lawyer Would Tell You About Buying a Small Business by Joel Ankney
  11. Buy Then Build: How Acquisition Entrepreneurs Outsmart the Startup Game by Walker Deibel
  12. The Art & Science of Respect: A Memoir by James Prince by James Prince, Jasmine Waters
  13. #BreakIntoVC: How to Break Into Venture Capital And Think Like an Investor Whether You’re a Student, Entrepreneur or Working Professional (Venture Capital Guidebook Book 1) by Bradley Miles, Carol Tietsworth
  14. Leading with Cultural Intelligence: The Real Secret to Success by David A. Livermore
  15. 101 So Bad, They’re Good Dad Jokes by Elias Hill, Katherine Hogan
  16. The Sleep Solution: why your sleep is broken and how to fix it by W. Chris Winter
  17. Angel: How to Invest in Technology Startups—Timeless Advice from an Angel Investor Who Turned $100,000 into $100,000,000 by Jason Calacanis
  18. Sulwe by Lupita Nyong’o, Vashti Harrison
  19. Ruthless: A Memoir by Jerry Heller, Gil Reavill
  20. The Upside of Stress: Why stress is good for you (and how to get good at it) by Kelly McGonigal
  21. How to Be a Great Boss by Gino Wickman, René Boer
  22. Who Moved My Cheese: An Amazing Way to Deal with Change in Your Work and in Your Life by Spencer Johnson
  23. Small Giants: Companies That Choose to Be Great Instead of Big, 10th-Anniversary Edition by Bo Burlingham
  24. The 22 Immutable Laws of Marketing: Exposed and Explained by the World’s Two by Al Ries, Jack Trout
  25. My Favourite Dictators: The Strange Lives of Tyrants by Chris Mikul, Glenn Smith
  26. Influence – Science and Practice – The Comic by Robert B. Cialdini, Nathan Lueth
  27. What Every BODY is Saying: An Ex-FBI Agent’s Guide to Speed-Reading People by Joe Navarro, Marvin Karlins
  28. The Dynamics of Conflict: A Guide to Engagement and Intervention by Bernard S. Mayer
  29. The Time Trap: The Classic Book on Time Management by Pat Nickerson, Alec Mackenzie
  30. Choose Yourself! by James Altucher, Dick Costolo
  31. Get a F*cking Grip: How to Get Your Life Back on Track by Matthew Kimberley
  32. You Can’t Teach a Kid to Ride a Bike at a Seminar, 2nd Edition: Sandler Training’s 7-Step System for Successful Selling by David H. Sandler
  33. The Fault in Our Stars by John Green
  34. How to Win at the Sport of Business: If I Can Do It, You Can Do It by Mark Cuban
  35. The Greenhouse Approach: Cultivating Intrapreneurship in Companies and Organizations by Chitra Anand
  36. DotCom Secrets: The Underground Playbook for Growing Your Company Online by Russell Brunson, Dan Kennedy

Domain registrars – get your own domain name

  1. Namesilo – get a .com for $8.99. Use the coupon code BP to get $1 off.
  2. Namecheap
  3. KenyaWebExperts – get .com & .co.ke domains for less than KSh 1000/yr.

Web hosting companies – get hosting for your blog or website

  1. KenyaWebExperts – starting at KSh 2,100 / year.
  2. HostGator – starting at $3.95/mo if paid annually.
  3. Bluehost
  4. Namecheap
  5. Namesilo
  6. WPEngine
  7. Garanntor Kenya

Plugins for your WordPress site

  1. MonsterInsights
  2. OptinMonster
  3. WPForms

Hire freelancers to help with tasks you’d rather outsource

Check Niabusiness Classifieds. Place an ad for free. See categories you can outsource tasks in.

For more recommendations, check Niabusiness Tools & Resources page.

Leave a Reply

Your email address will not be published. Required fields are marked *