How To Overcome The Fear Of Starting A New Business

The fear of failure has killed more dreams than anyone could ever think of. A lot of people build limitations around themselves because of the fear of things going wrong in whatever they set out to do.

They ponder questions like:

What will people say if this fails? Won’t they laugh at me? Can I make this work? Won’t this just be another waste of time? Should I simply just get or permanently remain in my job?

Questions like this only build a higher level of certain failure because the mind already programs itself for the events that it deeply worries about, and in the process, if the individual sets out to start that new business without a firm plan and conviction for success, failure is almost always imminent.

If you’ve always been scared of starting a new business, here are 5 ways to overcome that fear:

1). Stop Saying You Can’t Do It:

The first step to making the decision to start any business is to change your mindset about its possible outcome. Instead of constantly thinking about how risky or challenging entrepreneurship can be, you should reprogram your thought-process to focus on the valuable opportunities you are already missing.

A slight shift in your mindset can be a major determinant to what you end up achieving in life or not.

2). Build Yourself Up With Knowledge:

The fear of not always learning something new is one of the things that taunts the world’s most successful businesses and entrepreneurs. They know the closest competition is constantly learning new things and looking into new ideas they could execute, and so, they too also don’t relent and continue to build their knowledge base every day.

Before you setout to be an entrepreneur, you need to understand that a constant acquisition of knowledge is key to your long-term success. If you don’t read books, articles, watch videos, or attend seminars or workshops, you’d always be behind, and without valuable knowledge to execute your plans, your efforts will be in vain even if you eventually set out to start your own business.

3). Have Realistic Expectations:

Many people expect to start a business today and make a million dollars in profit at the end of its first year. While it’s not impossible, it is critical that you have very realistic expectations about the business you intend to start.

One thing you should always do is to align your goals with your resources, look at what it could get you if handled properly, give a reasonable margin for mistakes, and look for other ways you could use to make up for possible failures.

When you plan realistically, negative results won’t get you to break down completely and quit your business. Rather, it would be a motivating factor since you know what caused the outcome, and so, can plan better for success in the following day, week, month, or year.

4). Build Valuable Relationships:

The value of your network will ultimately determine your net worth. Who do you know in the industry that can be of help to your business? And does the person know you?

When you network with key individuals that have a unique expertise, vast experience, and contacts in their respective industries, they could be of help to you and your business in terms of mentorship, consultancy, and client acquisition.

Building a valuable network is key to growing a successful business.

5). Start Small:

Above all else, if you must grow a successful new business, you must start, and that start would usually be small. When you take baby steps, you move carefully into the terrain, make small mistakes, learn from them, and correct them with much lesser risks.

When you eventually have a product or service the market wants, a sales process that works, and a team that’s as motivated and hardworking as you are to achieve your goals, you can then someday become successful.

To Sum It Up

There’s nothing like failure, unless you give up on trying. Making a decision never to try or giving up after a series of disappointments is when you have truly failed.

It is important you know that in the journey of entrepreneurship, there’s no such thing as failure, but only an opportunity to learn over and over again.