Overcoming Fear of Starting Your Business

What’s keeping you from starting?

In a 2021 Harris poll, 92% of the people surveyed, who were considering starting a business, didn’t follow through. The ultimate reason by far, was Fear. Overcoming your fear may be challenging, but necessary to move forward.

Starting a business can be intimidating and it’s not uncommon to feel fear or uncertainty. In fact, it’s beneficial and necessary. Fear can be a useful tool in certain situations, such as helping us to identify potentially dangerous or risky situations. Without fear you can become arrogant and cocky, throwing all caution to the wind.

HOW TO OVERCOME YOUR FEARS

According to Forbes, fear plays an important role in business. This is a great article that talks about the importance of using this emotion to your advantage.

However, if it is crippling and keeping you from starting, it’s best to find ways to push through your fears. Here are some strategies that can help you overcome your fear and take the first steps towards starting your own business.

1. DEFINE YOUR GOALS: Identify your personal and business goals. Understanding why you want to start a business can help you overcome fear and focus on the benefits of entrepreneurship.
2. RESEARCH AND PLAN: Thoroughly research your industry, target market, competitors, and financial projections. This will help you create a well-thought-out business plan, which can help reduce uncertainty. I can’t stress this enough. The more you know, the more expert you will be. 
3. GET SUPPORT: Seek out a mentor, business coach or join a community of entrepreneurs. Surrounding yourself with people who understand your fears and can provide guidance and support can help you overcome your anxiety. One of the best things I’ve done in life was hiring a Life Coach. Sometimes having a different perspective and having someone to push you will create all the confidence you need.
4. START SMALL: Consider starting your business as a side hustle. This can help you build confidence, gain experience, and test the viability of your business idea before committing full-time.
5. TAKE ACTION: Overcoming fear requires taking action. Break down your business goals into smaller, achievable steps and start working towards them. Celebrate small wins along the way. Action is where the money is at. 

Remember, starting a business involves taking risks, but it also offers the potential for great rewards. By using these strategies, you can overcome your fear and start your journey towards entrepreneurship.