National Business Incubation Association; Your source for knowledge and networks in business incubation

Getting the guts: Helping entrepreneurs overcome the emotional challenges of starting businesses

December 2005

Most entrepreneurs will attest that starting a business is no easy task. But oftentimes, emotional issues create as many challenges for new business owners as analyzing balance sheets, developing marketing strategies or securing financing. “It takes courage to get out there and do it,” says Suzanne Mulvehill, an experienced business counselor and entrepreneur.

Mulvehill should know. She quit her job three times before finally starting her consulting firm, Profit Strategies, in 1998. Although she had both a business plan and a savings account before striking out on her own, she initially lacked the courage to leave behind her office job.

Mulvehill has identified several emotional challenges that many entrepreneurs encounter. Read on for her recommendations of ways incubator managers can help entrepreneurs turn these emotional challenges into business opportunities.

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Keywords: professional development -- client

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