Three Fears to Overcome to Be a Full-Fledged Entrepreneur

Most people delay pursuing business ideas or opportunities not because they’re not ready yet but because they’re not brave yet. Starting a business is a big leap of faith affecting every aspect of life, from career and financial security to relationships and personal lifestyle. It would indeed bring out your worst fears.

But the thing about fear is it never goes away. That’s why avoiding taking this big leap isn’t the solution. What you need to do is name your fears and overcome them bit by bit.

Fear of Failure

There’s a lot at stake in starting a business: financial security, personal reputation and the trust of the people rooting for you. At the same time, there’s a lot of tasks to accomplish that it’s easy to overlook a thing or two. That’s why it’s not surprising that starting entrepreneurs almost always feel a sense of impending failure.

The solution here is to have a solid plan A, B, C, D and so on. Write your business plan thoroughly. Or, better yet, explore business models that have already been proven, for instance, franchises. List down your top picks for the best sandwich franchises, observe how they’re performing, and have a sit-down discussion with franchisors. This will give you an idea which business plans have the best guards against failures.

Equally important is a solid backup plan. When you have this on hand, you gain more confidence as you navigate the complex processes of doing business.

Fear of Change

Man in the sofa

Although it’s the normal way of things, change makes people uncomfortable. That’s because it shakes up the status quo and throws you out of your comfort zone. In pursuing a business opportunity, it may mean leaving your stable job and learning an unfamiliar industry or new ways of approaching work. To be fair, that overwhelming feeling of change continues well into when you’re already immersed at your business. There’s the decision to expand products, move to a new location or pursue other opportunities.

The antidote to the fear of change is to see it as a “necessary positive,” meaning this thing you’re about to do is essential and beneficial. Write down the reasons you want to start a business. To provide more for your family? To pursue your long-time passion? Whenever the fear of change crops up, remind yourself of these necessary positives. With this perspective, you’ll be at ease in the uneasiness of change.

Fear of Incompetence

Most people think that they’re not good enough to be running a business. They believe they don’t have that much knowledge or experience yet to make them full-fledged entrepreneurs. Sufficient know-how is, of course, important in making your way to the industry, but it’s not a prerequisite.

There are tons of entrepreneurs who have started with little to no industry experience, yet they thrived. Besides, you can only fully know your business once you’re immersed in it already. As long as you have the willingness to learn, you can make it.

Fears are the number one enemy of aspiring entrepreneurs. Don’t let these struggles keep you from making your business a reality.

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