Overcoming Your Fears of Starting a New Business
“The fears we don’t face become our limits.” -Robin Sharma
Every lean entrepreneur, CEO of a small or medium-sized enterprise, and owner of a successful Fortune 500 company had to go to war with the fears and doubts in their heads while initiating their businesses. I can confidently say that there is not a single business owner who did not feel afraid or fearful before taking the leap and embracing the world of entrepreneurship. After all, we are human. It is human to fear the unknown. It is human to be afraid of risking the comfort of your today for a comfortable tomorrow. It is human to feel the urge to give up and return to your comfort zone.
But, it is also human to stand up and struggle. It is human to prove all those people wrong who ever doubted you. It is human to face adversity.
It is human to face your fears.
As a spiritual entrepreneur who has been in business for many years, I’m allowed to boldly say that you can’t expect to run a business on a straight path every single day. Every morning brings a new challenge to the table, and every dusk, you bring a new fortune home, which is either tangible and material, or intangible and spiritual, or both. And at the end of the day, knowing that you were able to build something from scratch and provide value to people with it makes all of the struggles worth it. If you are aspiring to become an entrepreneur, are all ready to set up your new business, and are eager to start enjoying the pleasures of entrepreneurship, then you must first overcome your fears which are limiting you from achieving greatness and working on your soul’s purpose.
In this article, I will discuss the 3 most common fears that people (especially women) who want to become entrepreneurs usually struggle with, and how they could effectively overcome them. Without further ado, let’s start:
- The fear of failure
The biggest fear which prevents most people from pursing their dreams of launching their own businesses is the fear of failure. The word itself is enough to create an unpleasant taste in one’s mouth, a sinking feeling in the chest and the gut, and possibly an increase in the heart rate. Since launching a business involves investment of a considerable amount of money, failure isn’t an option, especially if you have spent a better part of your life gathering that money or have borrowed it from another party.
The best way to overcome the fear of failure is to start small. Take all the necessary measures to reduce the risks. Learn everything you can about the business you are about to enter. Consult a professional. Bring a trusted friend or family member on-board. At first, it might seem tempting to invest every single penny. Avoid doing that, unless you are 100% confident about your success. Having known that you have done your homework and left no stone unturned will automatically make you far more confident.
- The fear of being made fun of
This is something that women usually face. While starting a new business, the biggest challenge which most people endure is having to defend their business ideas in different gatherings. Human beings often fail to see the bigger picture. Moreover, they tend to feel jealous and threatened by the success of those around them. In an attempt to mask their true feelings, they start making fun of their friends’/family members’ business ideas. Comments like “No one is going to buy that/That business is destined to fail, etc.” are often heard by many aspiring entrepreneurs. As a result, some get discouraged from pursuing their dreams.
To conquer this fear, know it within your heart that you are your own person. You are not starting your business for those who doubt you. You are doing it for yourself, the people who believe in you, and the rest of the world. If anything, you should be feeling sorry for those who doubt you. Continue on your journey and do not give up.
- The fear of not being good enough
Another fear the inexperienced entrepreneurs face is the feeling of not being good enough. They feel that they are not qualified enough and/or do not have the necessary skills to take on the core objectives of their businesses.
If such thoughts start to haunt your mind, just stop, relax, take a deep breath, and reflect upon how far you have come so far professionally. Go back to your very first day, whether as a student, an intern, or as an apprentice, and find comfort in the fact that you have the ability to learn and grow, and that this ability will come in handy once you initiate your business.
FINAL THOUGHTS
As the saying goes, “The only thing to fear is fear itself.” You should not let meaningless thoughts stop you from taking the leap of entrepreneurship and starting your business. After all, they are just thoughts. All the best!
A print and digital magazine for businesswomen focusing on leadership, business, and entrepreneurship that made its debut in 2017 has WomELLE Magazine.
