Overcoming the fear of starting a business is similar to overcoming the fear of failure. To overcome fear of starting a business, you also have to stop worrying about failure, but there are also many practical worries that prevent talented people from taking the risk of starting their own business. In this article we will discuss these worries and how to overcome those fears. Overcome fear of starting a business so that you can finally live a life you are proud of. If you think it’s difficult to overcome fear of starting a business, then read this articles for tips on how to do it.
How to Overcome Fear of Starting a Business
For people who absolutely hate their job and realize it’s destroying their soul to keep working there, it may be easier to quit that job and try to succeed in their own business.
But for many people, their job is good enough. They have enough money to survive. They don’t have enough money or time to indulge in all the things they are really passionate about, but at least they are alive. That’s true. But you know what? People in a coma are alive too. Just because you are alive doesn’t mean you are living.
It may be tempting to stay at a job like that no matter how many opportunities you give up on. Great business ideas will come and go. I’ve had several great business ideas. But I never did anything with them and years later, i see other people making millions of dollars off those ideas.
If you have an idea, you can test the market to see if it is something people actually need. If there is any part of the process you don’t know how to handle, there are ways of figuring it out or people who will help you do that.
Let’s tackle some common fears of starting your own business. These are common fears entrepreneurs encounter so think about how you will resolve these fears so you can get to work on building your business.
1. Overcome Fear of Not Enough Money
This is a very common worry for people who fund their business with their own savings. When the savings run out what will you do if you aren’t successful yet? You will need to carefully plan your budget if you are worried you won’t have enough money to survive.
If you are worried you won’t have enough money then keep a part time job while you work on setting up your business. It can be helpful to start small while you figure out all the things you need to learn to be successful in business. Such as selling, marketing, design, building a brand, and all the other little details you need to figure out before you can be successful.
People who aren’t business people often have no idea what a VC is. VC stands for venture capitalist. They are people or corporations with big money who invest in your start up / business in exchange for shares of the company or other benefits.
It may seem scary to borrow money from someone else, but a good VC will only invest in people and ideas they are sure will be successful. They often even help you with distribution, marketing, packaging design or other little details in exchange for a percentage of profits. If you have no money, this could be the route to go. Prepare a prototype and ask an investor for help.
Now you know that being poor is no excuse for not trying to start your own business. Hopefully you are ready to overcome fear of starting a business.
2. Overcome Fear of Not enough Education
You don’t need a degree or an MBA to start a business. Business related degrees are just training to help real businessmen make money. You’ve certainly heard how lots of successful business people dropped out of high school or university to start their business.
If there is a technical skill you need to start your business then hire someone with that skill. Or pay a freelancer. Create a business plan and figure out what kind of experts you need on your team to make it happen. As long as you have a great vision and plan, you can find people who will help you make it a reality. Knowing that you don’t need lots of education should help you believe you can overcome fear of starting a business.
3. Overcome Fear of Failing
You might fail at this business. But that doesn’t need to be the end of your entrepreneur career. Failure provides valuable insights and learning experiences. You can take a close look at why you failed and do much better next time.
Take risks. Avoid being satisfied with small wins by setting big goals. People regret not taking risks more than taking risks. If you only have small goals it could imply a scarcity mindset. You only have a little money so are very scared about where to invest it. Be careful, but also know when you should take risks.
Failure is much more educational than barely accomplishing anything. Read this article for more on How to Overcome the Fear of Failure.
4. Overcome Fear of not Having a Good Idea
Certainly you’ve seen stupid business ideas that somehow takeoff. I still have no idea what a fidget spinner is or why it got so popular. It helps to have an innovative idea that provides a product or service people can really benefit from. But it’s also okay to provide a novelty that provides either entertainment, or just the slightest bit of convenience.
You also may start your business with a silly idea, and then use whatever profits you make to create an even bigger, more practical business. Nintendo started as a trading card company. Many businesses use income from smaller ventures to create much bigger businesses.
If you have an idea for a business you should try to make it a reality before someone else does. Even if your idea isn’t 100% original, then you can still try if it’s something you are passionate about. If you want help overcoming your fears, then please read 10 Days to Superhuman Confidence.
If however, you are ready to create a plan to achieve your business goals, then please read my free book,
Goal Setting: The Proven Path to Achieving Personal and Career Goals.
I’m giving this book away for free because I’ve seen the results of proper goal setting strategies and I hope you’ll be able to set goals that lead to the results you want.
Do you have any more fears related to starting a business not covered in this article? Please leave them in the comments.
FREE Confidence Toolkit
Overcome Your Fears of:
-Aggressive people -Not having anything to say