5 Fears Entrepreneurs Need to Overcome
There are plenty of fears and excuses that hold us back from getting what we want. Entrepreneurship is treacherous ground. You’ll face great risks, from the inception of your company through the growth stage, and even as you stabilize and gain momentum. If you’re going to be successful as a business owner, you need to be prepared for those risks, and address your fears proactively.
While each entrepreneur and each business is unique, there are five common fears that almost every entrepreneur will need to face before starting a business:
Not believing in yourself
By building small wins each day, you can gain the confidence you need to take on a bigger game in your business. Make it a game to see how many small victories each day you can have. This can be as simple as not checking email every hour, or completing one simple task each day by the deadline you create for yourself.
The fear of failure gets the better of all of us occasionally. Failure will set you back no matter what, but you can’t let the fear of failure stop you from making a decision. Failure is only the end of the road if you let it be. Otherwise, it’s just a temporary stopping point in a long path to a final destination.
Nothing’s certain when starting a business. Where are we headed and how are we going to get there? Will there be enough cash for the journey? For many entrepreneurs, the fear of financial insecurities and uncertainties can hinder their way to success, however, by having diligence, attention, creativity and a solid business plan, complete with start-up strategies, progress reports and sales forecasts you can prepare yourself for any environmental uncertainties. Mapping the route increases the likelihood of success and relieves those pesky feelings of insecurity and uncertainty.
Not finding funding
If you don’t have the necessary capital at first, you’ll soon learn that a slow and steady process of building the business may be the best thing after all. There are so many entrepreneurs who started in debt, and built everything with hustle, relationships, building their audience and sweat equity. It’s time to get creative and start thinking like an entrepreneur.
Failing the family
While you might be scared that your new enterprise will not provide for your family or be an embarrassment, what if someone told you that your family needs this experience to grow closer together? Your spouse needs you to lean on him or her for support. Speak to members of your family and let them know that as you undertake this venture, you won’t sacrifice their safety or let them go hungry. Talk openly with them about the risks you’re about to take and how it’s important that you invest your time and energy into the success of this business. Prepare your family as best as you can and ask them to walk this journey with you.