Are your fears holding you back from taking the Entrepreneurial Plunge?
There is so much planning that goes into starting a business – arranging finances, making a business plan, organizing the infrastructure etc., but there’s something more that is important that one should consider before commencing their entrepreneurial journey – being prepared from the inside & ready to face your fears and the challenges ahead!
To paraphrase Brain Tracy “The Key to Success is to focus our Conscious Mind on Things we Desire not Things we Fear.”
There are many people who aspire to become Entrepreneurs but few make it happen. Every Entrepreneur – failed or successful goes through fear and anxiety before launching their business. However, there is a difference between the two – the successful entrepreneur faces and overcomes fear while the other gives into his fear and quits.
Have you been nurturing an entrepreneurial dream but your inner fears are holding you back?
Entrepreneurship is not an easy task, there are many known and unknown hurdles at every stage that one needs to endure. Like Brain Tracy rightly says; In such situations an entrepreneur needs to focus on his goal and work towards achieving it rather than focusing on his fears and anxieties.
If your fear is holding you back from taking the entrepreneurial plunge, review this list of fears that are holding you back and learn how it’s possible to overcome them:
- Fear of Failure: It is often assumed that entrepreneurs do not fail; every entrepreneurial venture is successful; sadly, this is not true. Failure happens to lots of people. Most successful entrepreneurs have faced failures, endured it, learnt from it, moved on and then succeeded. If fear of failure is holding you back from starting your own business, remember you’re not alone. You have to keep your goal is mind and focus on it instead. Failure is inevitable but it’s how you overcome it, is what determines your entrepreneurial success.
- Lack of confidence, not being an expert: It’s always advisable to venture into an industry/business that you have been passionate about. It’s absolutely essential to have some understanding of the business you are getting into so that you know enough about your product or service to be able to sell it to your clients. At the same time you always have to be open to learning, as willingness to learn will help you grow and succeed & there is so much knowledge that you will pick up on the way.
- Fear of quitting your job: Moving out of their comfort zone is a common fear faced by aspiring entrepreneurs who fear losing out on income and not being able to manage responsibilities. There is no guarantee that your business will make money in its initial stages and therefore the initial days can be difficult especially if you have a family and are the sole bread winner of the family.In such a situation it is best to have your family’s complete support and cooperation. To prepare for this you have to manage your finances to take care of your personal & professional needs. There is no guaranteed timeline as to when you will start generating income. The best solution to overcome this is to plan yourself well (financially, mentally and emotionally) till a period where you guarantee projected revenues.
- Fear of rejection: We want to be accepted, appreciated and rejection is most dreaded. No one wants to be told that their idea is not great, that their services are not better than competitors. The key is to keep in mind that rejections are stepping stones to understand why people are rejecting your product/idea and improve it.
Learning and growing comes hand in hand in Entrepreneurship. Being fearless would also be overconfident which may not be good for a new business. Fear is good and it’s normal to have worries & anxieties as these will help you keep your head on your shoulders and think through the decisions that you make especially when you’re faced by difficulties.
Entrepreneurship is for people with fears, anxieties and who are well prepared and willing to face their fears, learn & overcome them rather than giving up when the Going gets Tough!