According to a recent study by the Samsung Electronics Co., Ltd., over half (56%) of the UK’s aspiring businessmen and women say they lack the trust they need to take the initial steps toward achieving their dreams. Almost a third (29%) of these individuals claim to have missed missing a business opportunity that was later pursued and succeeded by someone else.
According to a study by Samsung UK & Ireland of 1,500 consumer entrepreneurs, 27% of them said they just don’t have the time to start a business, despite the fact that they would like to do so for a variety of reasons, including being financially independent (40%), a sense of fulfillment (29%), and more serenity and joy in life (12%).
Lack of mentorship was one of the obstacles that the study found.Only one in ten people believe they have a mentor, despite the fact that having one was identified as essential to obtaining their venture off the ground (42%). Instead, 36% of Brits resort to their parents, and 26% go to friends. One in ten people admit that their favorite TV character or an influencer on social media serves as their source of work motivation, and other people say they’ve discussed their professional aspirations with a bartender.
It takes many, many steps—some bigger than others—to turn a company idea become a reality, according to Annika Bizon, Advertising Omnichannel Directors at Samsung UK & Ireland. Encourage a friend or coworker to encourage their entrepreneurial spirit by being receptive, offering guidance, or sharing personal experiences.
Findings show that entrepreneurship lack encouragement and backing from their closest family and friends, despite the fact that friends and family play an obvious role in the pursuit of reaching career ambitions. More encouragement and trust from friends and family, according to a quarter (25%) of could-be entrepreneurs, would help them realize their ideas. In fact, 13% of people who shared their idea with acquaintances at the bar were ridiculed. The same number of children thought their parents didn’t understand or support them when they explained their concept to them.
Samsung UK has produced a three-part webcast series on its channel on YouTube called “9 Minute Mentors” in response to the findings, providing nine minutes of insightful advice to companies that aren’t missing that time to unsuitable technology.