So, you want to be your own boss? According to a report, you’re not alone—nearly three in five Americans say they have the entrepreneurial itch. Even though most people want to start their own business at some point, doing so can be very scary. Several roadblocks can keep would-be entrepreneurs from ever starting their businesses. Here are three of the biggest—and how you can overcome them.

Lack of Ideas

It can be challenging if you don’t have an idea for a business. Fortunately, there are several resources available to help you generate ideas. Here are the steps you can take to generate possible ideas:

Brainstorm: Write down all the ideas that come to mind, no matter how far-fetched they seem. Write as many as possible, and don’t be afraid to think outside the box.

Research Your Market: Look who your potential customers might be and what they’re looking for. Observe the competition and look for any gaps in the market that you could fill.

Talk to Business Mentors: It can be helpful to speak with people with experience starting businesses. They can offer advice and help you develop ideas based on their experiences.

Talk to People: Ask family, friends, and other entrepreneurs what they think of your ideas and what advice they have for you. Be open to feedback and consider all the suggestions you get.

You can also look into attending startup events or networking with other entrepreneurs. You never know when someone will share an idea that could be the next big thing. Alternatively, consider solving a problem that you’re passionate about. If you’re an avid knitter, you could start a business selling handmade sweaters or teaching others how to knit. Not only will you follow your passion, but you’ll also be filling a need in the market.

Lack of Money

It’s no secret that starting a business takes money. After all, you’ll need to cover everything from office space and supplies to marketing and employee salaries. If you need the cash on hand to get started, don’t despair. There are plenty of ways to raise funds for your business, including the following:

Seek Investors: Look for angel investors or venture capitalists interested in investing in your business. Pitch your idea to them and be prepared to answer any questions they may have

Apply for Business Loans: You can apply for a business loan from a bank or financial institution. Ensure you understand all the loan terms before signing on the dotted line.

Look for Grants: Research grants or awards that could help fund your business. Remember, though, that these can be competitive and require additional paperwork.

Crowdfunding: You can use crowdfunding platforms to raise money for your business. Crowdfunding allows people to donate money towards your project in exchange for rewards. Utilize social media to spread the word about your campaign and encourage people to contribute.

If you need the cash to get started, you can use your money by saving up. Start by creating a budget and figuring out how much money you can set aside each month for your business. Consider cutting back on expenses and putting any extra income toward your business savings. Consider opening a separate bank account specifically for your business. This will help you keep track of your funds and make it easier to transfer money when needed.

Bad Credit Score

Poor credit can make it difficult to secure business loans or other forms of financing. If your credit score isn’t looking so hot, there are steps you can take to improve it:

Review Your Credit Report: Ensure all the information in your credit report is accurate. There may be errors or outdated information that’s dragging down your score.

Pay Bills on Time: Paying your bills on time is the best way to improve your credit score. Set up reminders or calendar events, so you can make all payments.

Reduce Your Debt: Try to pay off as much debt as possible, especially high-interest loans and credit card balances. This will help reduce your debt-to-income ratio and give your score a boost.

Ask for Help: You can fix your credit score by working with a credit counseling agency or debt consolidation company. They can work with you to create a plan to pay off debt and improve your score over time.

If you’re looking to take out a business loan, having a credit score of 700 or higher is critical. With an excellent credit score, you can explore more loan options, like those from traditional banks.

Fear of Failure

Starting a business is risky. And with so much on the line, it’s natural to feel some apprehension about taking the plunge. The key is not to let your fear of failure hold you back. Remember that even the most successful entrepreneurs have had their fair share of failures. The important thing is that they’ve learned from their mistakes and used them as fuel to keep going. If you’re feeling scared, take a deep breath and remind yourself that even if things don’t go according to plan, you’ll come out of it wiser and stronger than before.

Starting a business is no small feat. But if you let roadblocks hold you back, you’ll never achieve your entrepreneurial dreams. You can overcome any obstacle by taking creative risks, reaching out for help when needed, and keeping your eye on the prize even when things get tough. So what are you waiting for? It’s time to get started!