Fear can destroy every entrepreneurs dream. Fear that whatever they’ve built may not be successful. Fear that the time and money they’ve spent on business ventures won’t pay off. Reluctance to present a new proposal to the board and be rejected. Hesitation to try new things or run challenging projects. At one point or another, I guess we are all afraid of failure itself.
We can’t always be in our comfort zone. Each of us are capable of playing big and achieving great things. As Robin Sharma said, “On the other side of your greatest fears lives your greatest life.” By overcoming fear you increase your capacity to grow and live the life you want.
In this blog, we’ve look into some of the most common fears entrepreneurs face and share some thoughts on how to overcome them.
OVERCOMING FEAR OF STARTING
This is the very first fear that every business owner faces, the fear of starting. I have seen people restrain themselves from reaching success because of fear and this often leads to a feeling of regret and disappointment because of missed opportunities afterwards. To overcome this fear we just need to start somewhere. Great business ideas will remain as ideas until we overcome the fear of executing them. Stop choosing fear and start choosing to create something great today. As H. Jackson Brown, Jr. said “You’ll regret the things you didn’t do more than the ones you did”.
OVERCOMING FEAR OF THE UNKNOWN
The fear of uncertainty is another disturbing fear every entrepreneur faces, even the successful ones. Any business can stumble and fall at any time – fluctuating economic markets, natural disasters, growing competition, new technology – the disconcerting truth is that we cannot guarantee what lies ahead for the business as well as our personal lives.
We can always find and learn something new. It is ok to fear the unknown, hence we plan in advance, prepare for certain risks our business may be subjected to. Some say entrepreneurs are risk takers, eagerly diving into the unknown, but in reality, successful entrepreneurs are good at reducing risks as much as possible by testing ideas and tweaking them along the way. We won’t know until we try, there are no guarantees and nothing is certain. This is the reality of doing business.
OVERCOMING FEAR OF FAILURE
Michael Jordan’s story is legendary. He is considered one of the greatest basketball players of all time. And yet, his coach didn’t think he had the skill and left him out of his high school basketball team. You see, the wonderful thing about failure is that it is up to us to choose how to look at it. It is a matter of perspective. It is not what happens to you that matters, it is how you react and respond that matters most.
Every one of us has experienced some kind of failure in our lives. Great entrepreneurs view failure as a learning experience. Understanding where your fear of failing comes from could help you see things from a different perspective. You fear failing? Go ahead, fail and learn from the process. Otherwise you will never know what you’ll discover the other side of your fear.
These are only three of the many facets of fears and anxieties every business owner struggles with. Indeed, each of us has our own fears but we must not let that fear stop us from moving forward. We can only grow if we stretch our limits. Step beyond your fears and seize the opportunity to be great today.