“There are many Fears that come with Starting a Business. We describe each and how to conquer” Integration by Mr Wiz4/biz
Cape Fear NC* Topics: Losing Steady Income, Unknown, Confidence, Failure, Selling, $$$, Credibility, Family, Success, Where to Start. * No Clue why. (or Cape Fear, North Carolina = 10 inches of Snow 12/09/18)
Fears are a psychological barrier for many Startup Founders. which can prevent them from taking the risks they need to be successful. Facing your Fears means you’re challenging yourself beyond your comfort zones. Your fear is a feedback response to ensure you set more harmonious & inspiring objectives. For Founders to overcome their fears and move forward, they must first ‘own’ & recognize the nature of their doubts & fears. Acknowledging your fears and their underlying illusion can, at times, be wise, but it is even wiser to self-reflect, intro-spect and master the skill of strategically planning & refining goals & objectives to where you know exactly what to do in potential circumstances. Each of us live with and by a unique set of values, priorities or actions that are most to least important to our lives,” he says. “When we live in alignment or congruently with our true highest values we become spontaneously inspired from within to act. We become more disciplined, reliable and focused; we expand our space and time horizons; we achieve more; we elevate our self-worth, certainty and belief in ourselves. We bring blood glucose and oxygen into our forebrain and awaken our executive centre governance and become more reasonable, objective or even-minded. Below are the 5 biggest fears Founder face and how they can be overcome:
#1 Can I afford to loose the steady Income of a Full-Time Job. Being self-employed is unpredictable, so it’s quite logical, that the scariest moment for young entrepreneur is quitting a regular job. Developing your own business is about taking responsibility and being master of your own fate. Just feel the difference between wondering how it would have become if you had given your dream a try or making tremendously good living out your dream.
#2. Fears of the Unknown. When you first get started with a business idea, gather your dream Team, you have no idea what to expect in your first months and sometimes – even years. It cam be thrilling or terrifying. When you have decided on being an entrepreneur, you should accept the need of taking risks, working hard & passionately believing in your idea, or get out.
#3 Am I Smart & Confident enough about this Area? Take your focus off your Fears and remain focused on your mission, goals & vision. Learn all you can about this specific area of knowledge and become an expert. Find Mentors & Advisor and build a Team to assist in those areas where competence or experience may be lacking.
#4 Fears of a Failure. It’s not a shame to try and fail, but to fail to try you’ll regret the rest of your life. Successful business owners say some failure is inevitable on your way to success. It’s just the matter of time when you’ll get it all together. But still there are ways to avoid business fail, and in most cases it’s the fails of others that might help you. Always learn from mistakes, and keep on trying no matter what.
#5 Not selling to enough Customers. It’s terrifying to take the risk of offering your product or service to the world, wondering if it’ll be valued. Unless you start your business with an established audience of people ready to throw money at you, a stampede won’t immediately swarm, to knock your door down. If you approach your business with passion, consistently delivering what’s promised, you’ll undoubtedly experience the success you desire. In the meantime, work your Marketing Plan feverishly, study to increase your level of expertise and be kind to yourself because you’ve already made it further than most other entrepreneurs.
#6 Will I throw away my $$$ ? This can be a “paralyzing” fear for Founders – as the pressure to bring in Profits is usually ever-present.
Solution: Get back to your initial Mission & Vision. It should be about serving the customer and making their lives better. In this way, the fear of losing money can quickly turn into a blessing – as it hopefully redirects leaders back to their true passion & personal mission.”
#7 Fears of Losing Money. Business is fairly considered to be 90% about eventually having a profit, so making a business successful is often among the biggest concerns most entrepreneurs have.
#8 No Credibility. Even if you have doubts that people will react well to your business because of your credentials, skin color, height or gender, show up anyway and deliver an outstanding service. People might be influenced by an physical appearance but no one can argue with a solid work ethic. Even if at first no one believes in you, people will learn to believe in your results.
#9 Failing your 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. Your children need to see you go for the gusto and give your all to your dreams. Speak to members of your family and let them know that as you undertake this venture, you won’t sacrifice their needs. Talk openly with them about the risks you’re about to take and how it’s important that you invest your time & energy into the success of this business. Prepare your family as best as you can and ask them to understand this journey.
#10 Not knowing where to start. Most entrepreneurs don’t know where to start when first setting their ideas in motion. Start out by finding a Mentor or Advisor who achieved the goal you’ve set for yourself. Look for a Serial Entrepreneur that’s been successful, then reach out to see if they will offer advice. Also consider numerous accelerators, integrators, incubators etc, that might help your business be successful.
#11. Being incapable of handling being Successful. The flip side of enduring the tuff times of a new business is facing that you’re offering exactly what the world has been waiting for. Are you afraid that maybe you won’t be able to handle the demands of running a successful business? You’re not the only one. A study published in the Journal of Social Issues presented the theory that women believe that demonstrating success will result in social criticism. Men & women alike may harbor the fear that too much of the limelight will alienate them from their peers. It may be lonely at the top, but someone has to be there to lead the progress of humanity. Be proud !!!
Comments: Do you know any other Fears, common to new Founders?
from the CEO, Perfectial & Entrepreneur Zines 10/18 enhanced by Peter/CXO Wiz4.biz