If there’s one thing that can be said about entrepreneurship, it’s this; it’s not for the timid. Many liken it to being a flying trapeze artist in the circus because, like those daring acrobats, entrepreneurs also are “working without a net” and don’t have the luxury of a stable job with a guaranteed monthly wage.
Deal with your fear
The truth is however that, while your average entrepreneur definitely has nerve, grit and resolve, many are still held back from ultimate success because of one human emotion that’s hard to get past; fear.
Many entrepreneurs get so caught up in these fears that they don’t make any choices or make choices that come back to haunt them later
We all deal with fear in our everyday lives, no doubt. From entry-level office workers to top executives, all of us fear something. It’s just that, when you’re an entrepreneur, there are a lot more things that can cause fear to occur. Fear of failure is obvious but there’s also the fear of making the wrong choices, hiring the wrong people, choosing the wrong industry, picking the wrong location and on and on.
Many entrepreneurs get so caught up in these fears that they don’t make any choices or make choices that come back to haunt them later. Some get so wrapped up in the fear of “what might happen” that nothing happens, and we all know that stagnation never got anybody anywhere.
Be honest with yourself
Let’s be honest, identifying these fears isn’t exactly easy. Some might stem simply from the fact that an entrepreneur is inexperienced, while others might be deep-rooted in experiences from childhood.
We’re not psychologists by any means and won’t pretend to have answers to why a particular entrepreneur would have a particular fear, but we can say this; the best way to avoid the fear of making a choice is to be completely prepared for that choice when it arises.
That means a lot of due diligence and time spent researching, reading, asking questions, putting together business plans and looking deeply into whatever market, industry or business model that you plan to enter.
Be prepared for the potential outcomes
While it’s impossible to know all of the possibilities that might happen, the more prepared you are with facts, figures and information, the more you’ll be aware of the potential outcomes of any decision you make.
Knowing those potential outcomes will go a long way to calming any fears that you might have.
If you’ve truly prepared well, then simply take this line from the famous speech by Winston Churchill, in The House of Commons (June 1940); “We shall never surrender!”
Hopefully you now realise the importance of facing your fears. We are able to offer advise on ensuring you are able to face your fears with one of our advisors. If you have any questions, please get in touch or leave a comment and we’ll be sure to get back to you with advice and information.