How to Overcome 4 Common Fears to Become an Entrepreneur

Fear, the strongest emotion...  How to overcome my fears in order to become an entrepreneur?

Fact... Only 50 percent of start-ups make it through their first four years successfully.

The remaining 50 percent give up on their hopes, 18 % held back by limited resources, and 19% held back by their fears.

The data explains why, for the young and first-timers, entrepreneurship is mostly synonymous with risks. It could work out, but it might not.

You know what, starting with a rational approach, and measuring the impact of every possible outcome, is a sensible approach.

However, excess of this rationality keeps a business from taking the leaps of faith to bloom fully.

4 Common Fears to Become an Entrepreneur

Entrepreneurship has to be a mix of passion and practicality.  The latter leads you through important decisions, while passion subsides the fears.

Without it, you're probably not reaching the deciding stages.  And hence, step one towards establishing a successful business is identifying fears and consciously overcoming them.

For that very reason, here's a comprehensive guideline about tested and tried methods of dealing with the top 4 common fears faced by aspiring entrepreneurs.

Have You Got the Right Mindset to be an Entrepreneur?

Perhaps the first fear that sprouts up in our minds as we begin considering a business plan is: Can I do this?  Will I be able to bear the hardships involved?  Am I capable enough?

And these overwhelming thoughts of self-doubt force us to grant ourselves with time extensions to think it through.  We keep delaying and postponing, labelling it as our prep time.

While, in reality, our subconscious knows we are only running, avoiding the answers.

Well, it's about time you stop and take some real action.  To begin with, evaluate yourself first.  Do you currently possess the right approach towards business and entrepreneurship? 

How to Overcome 4 Common Fears

Do you have the right mindset?

Ideally, a true entrepreneur is ready to take the lead when uncertainty surrounds.

When employees and finances find themselves insecure, it is an entrepreneur that helps everyone rise back to the top again by coming up with creative and practical ideas.

He communicates and executes his ideas efficiently, as per calculations and plans. And of course, as a responsible and reliable leader, an entrepreneur refuses to cower from failures.

Now, if you don't find yourself fitting in the frame, you shouldn't give up. This all-embracing post is all about helping you find a way out.

According to science, you can easily train your mind to behave a certain way by adopting the simple changes and incorporating them into your daily routine.

Overcome 4 Common Fears

For example, to develop the same positive mental attitude as an entrepreneur, you must adopt activities to help reduce your negative thoughts. 

To achieve this, you can set up a good and healthy sleeping and eating routine. 

By nourishing your body and catering to its needs, you will make your physical self happy and more confident about things. 

Besides, being able to control and improve will propel you towards growth.

Losing Your Monthly Paycheck

You've been working as an accountant for several years at a reputable company.  The work environment and responsibilities are easy to execute.

In return for your services, you also receive a heavy monthly paycheck.  However, your heart lies in product development and entrepreneurship.

When looking at successful businesses, you feel the urge to join the community.  But, you keep on resisting as the fear of losing a monthly paycheck haunts you.

If you have experienced a similar situation, then my friend, you must leap.

Undeniably, having figures add up in your bank account every month gives off a sense of security.  It ensures your household bills will get paid on time.

Losing Your Monthly Paycheck

But, have you ever thought how long this money would last if you retire after 50-years? Probably, a month.

You see, money has no guarantee, no warranty.  You can’t simply preserve or double it, especially in jobs.  So, why not spend the time and resources on doing something you love?

Once you pursue a field with passion, money finds its way too!

And, if the uncertainties accompany the fear of losing a paycheck, know you can scare it away by developing better revenue generation plans.

You can utilize the spare time in promotion and packages to meet the monthly goal.

Friends and Family reactions

They'll probably make fun of me.

Does that ring a bell?  Do you often catch yourself thinking what others (especially those you know) would think of your business?

Since it's not going to be anything huge or praiseworthy in the beginning, do you shy away from owning your idea?

Well, in that case, it's time to change your ways.  As an aspiring entrepreneur, you have a mark to make.

Time is slipping away, and you have worlds to conquer.  So, first thing first, remember: nobody is paying attention to you as much as you think they do. 

Friends and Family reactions

They're living their own lives, passing comments.  You've got to live yours, so do your thing confidently.  Once it shines, they'll see the worth themselves.

Instead of shying away, take a step forward and allow people to reveal themselves.  It will help you know who your real friend is.

Also, if someone keeps discouraging and demotivating you, ask them for detailed feedback. Rather getting disheartened with their opinions, use them to improve yourself.

Besides, as long as you are good at what you do, nothing else should matter.  You're living the life the way you want, while half of the world's population allows the society to decide that.

That's an achievement in itself. Don't you think

Fear of Past Failures

At times, fear of business failure can be devastating, especially when they are linked to the past. 

Fear of Past Failures

Having failed at an attempt in entrepreneurship can easily make you see the future is dark.  But, do not lose hope, my friend!

Remember, life is a series of challenges and quests.  You must overcome each one of these to survive, learn, and grow.

You might’ve failed in the past, but everything was different at that moment.

Today, the new you possess enough strength to rise from the ashes and devise a better strategy to deal with the matter at hand.  You can do it! 

Prepare Your Plan

Uncertainties and doubts complicate the fear when stepping out of your comfort zone to pursue entrepreneurship. 

Prepare Your Plan

Not knowing can be frightening and overwhelming at the same time.  However, you’ll have to experience things to deal with the fear of the unknown.

You can see what the future holds, only by experiencing it.  Yes, you cannot craft flawless plans that always keep your ship afloat in the future.

However, you can modify the plans according to the prevailing situation.  These modifications over time will help you plot the route to success wisely.

So, you should always have a plan ready!

Learn, Learn, Learn...

How to Overcome 4 Common Fears

Indeed, life’s not a movie.  There are no scripts, no climax, and no perfect resolutions.

You might experience a lot of ups and downs in your entrepreneurship journey.  There will be success as well as failure.

But, one thing remains constant is to become a better version of yourself, which is the ability to learn.

An individual who doesn’t learn from his mistakes can never complete a milestone successfully.  We also could say Read, Read, Read

When operating a business, you can emphasize growth by reinforcing strategies and planning better objectives after a failure.

Hence, refining your course of action and setting you on the path of skilled entrepreneurs.

Avoid Negative People

 Avoid Negative People

As mentioned above, do not fear what society (including your friends and family) would think of your business, especially if they negatively react to it.

The same applies to all other people, be it colleagues, clients, fellows, or dealers.  If they cannot provide constructive criticism, then avoid their opinions as well.

Even if your team has an individual with a pessimistic approach, who calculates the worst and sticks to it, consider replacing that person with a flexible and open-to-growth person.

If you don't, they will weaken the foundations of your business by keeping on demotivating you.

Final Words

The approach to a certain matter is what changes the game for many.  To a man, the stone lying on the ground can be as purposeless as possible.

Or, it could serve as the next best source of the upcoming product.

The perspective towards different things can help you either make the most out of it or get nothing.  Fear is a similar thing.

Viewing it as a harmful aspect can lead to nothing but a downfall.  Or, if you identify and recognize it, you can eliminate it by learning how to overcome fear.

Fear can help you see the weak points in you and work to strengthen them.

Undeniably, it is an efficient entrepreneurship tool!