Tuesday, November 29, 2022

Overcoming Fear on Starting a New Business

Is the idea of establishing a business terrifying to you?

This article will show you how to overcome your fear on starting a business.

We always enjoy hearing about entrepreneurs who have risen to the top despite overcoming numerous obstacles. Like Mark Zuckerberg or Steve Jobs stories perhaps.

While these stories inspire us to want to write our own success stories, we tend to focus on the positive aspects.

You don’t often hear about how they conquered their fears. Talking about failure can be considered inappropriate in a society where only the strong and fearless survive.

We don’t like sharing our deepest worries with others because it makes us look vulnerable and weak.

One of the most difficult aspects of beginning a business is overcoming your fears. Starting a new business requires such a huge leap of faith, especially when you are leaving the comfort and security of a steady job.

There are a variety of variables that can make any would-be entrepreneur nervous.

The fear of failing and taking chances, as well as the disappointment that comes with failure or losing what you already have, are the most common fears.

Well, the list goes on.

Well, you might think that you don’t know what to do.

Do you feel like you’re not knowing where to begin? Well, when it comes to putting their ideas into action, most entrepreneurs don’t know where to begin.

Or, feeling like you’re not an expert?

You might underestimate yourself in here.

When you began to think about starting a business, you most likely know enough about your product or service to answer most people.

Then you’re afraid not knowing what to do when you face a problem. Well, you could always resolve it through learning and research. So don’t be concerned if you don’t feel like an expert in the field just now.

Take it one step at the time. You could never stop learning. Learning is one of the ways to a success. These are some ideas you can do to be prepared and have strategies in mind:

  1. Empower yourself with knowledge
  2. Remember why you want to starting a business
  3. Write down your reasons for starting a business
  4. Start the business part-time
  5. Be realistic with your expectations
  6. Align your goals with your resources
  7. Remember to take a break
  8. Build relationships and support system
  9. Face your fears
  10. Believe in yourself and in your business

1. Empower yourself with knowledge

It’s all about research, research, and more research.

The more you learn about the industry, your company, and the starting process, the less intimidating it gets.

The goal is to become informed about all aspects of your company and to become familiar with all the stages involved in beginning a business.

Fear typically stems from a lack of knowledge about what is ahead, and the more information you have, the more confident you will be in pushing through.

You could educate yourself by finding forums that guide you in getting to know more about the industry.

Participate in official Google AdSense groups or forums, such as WebmasterWorld.

2. Remember why you want to starting a business

If fear begins to creep in, remind yourself of why you want to start a business in the first place.

Knowing why you want to be a business owner will help you determine your competence for the long hours and the financial commitment that entails in owning a business.

Try to ask yourself these questions.

Do you desire the choice and freedom to achieve your goals?

Do you want to establish a business because you want to earn more money than you could as an employee?

Is it because having your own business can provide you and your family with a better life ?

Do you wish to demonstrate that your business concept is profitable ?

3. Write down your reasons for starting a business

Make a list of your own goals and objectives for starting the business.

Seeing the words on paper has a powerful effect, and you’ll soon notice if your ambitions to become an entrepreneur are worth pursuing.

Reread your reasoning and recall what you want to achieve from your business when you feel fear or doubts arose.

4. Start the business part-time

If the thought of beginning a business appears to be too intimidating, you can take it more slowly.

Rather than quitting your job and losing the security of a stable pay check, consider launching a part-time business.

You can start the business on the side while still working full-time and work on it in the evenings or on weekends.

Or, if you don’t have a full-time job, that’s okay.

You could look for a part-time job to help with some of your expenses while also working on the business in your spare time.

Even if your greatest nightmare comes true, like your business collapses, you will still have a job to support yourself.

5. Be realistic with your expectations

When your expectations are too high or too low, fear sets in.

Entrepreneurship is similar to a roller coaster ride, with many highs and lows.

You must consider your strategy and make a plan, then stick with it.

It’s crucial to keep your expectations in perspective when you start on the exciting journey of starting a business.

You can’t play a game of bowling without knocking down the pins.

But, what do you do after they fall? Do you sit down and cry?

No, you set the pins back up and play again.

It’s all part of the game to put the pins back in place.

When problems develop in the workplace, this just gives you the opportunity to re-set the pins.

You most likely have what it takes to win the game as an entrepreneur.

So don’t be frightened if the pins start to fall. You can always straighten them out.

6. Align your goals with your resources

Choose a business that has less risks, especially if you have limited finances.

Being a business owner would be a piece of cake if everyone with a good idea could walk into a bank and get a loan.

But, this is not a dream world where you can instantly meet the necessary fund.

Not to mention if you have bad credit and little funds.

Well, if this is the case then don’t start an organic cleaning product company that will cost millions to produce and sell, which you don’t have or can’t afford.

Also, don’t create a barbecue sauce company that requires a huge distribution network to succeed.

7. Remember to take a break

It’s okay to take a break when you’re feeling overwhelmed by the prospect of launching a business or if you have any remaining doubts about the process.

Go somewhere, spend time with your family and friends, relax, and find another way to pass the time.

Allow yourself a few hours, if not days, to simply enjoy life without the stress of attempting to launch a business.

Relaxing and taking a step back can sometimes help you see things more clearly, allowing you to think more clearly and reducing your concerns.

8. Build relationships and support system

You can’t always do everything on your own.

Finding people you can trust and count on is one of the most effective ways to overcome fear.

Find someone who understands what you’re going through and who you can trust to be by your side.

A support system, whether it’s family or friends, may act as a cheerleader for you, pushing you to stay on track and celebrating all of your accomplishments, huge or little.

When things get tough, your support system can help you stay afloat.

They can provide you with advices, open doors for you, or connect you with others who can assist you.

More significantly, they can communicate to you and listen to you when your fears and questions arise.

9. Face your fears

When starting a business, it’s important to keep a positive attitude and believe that everything will work out.

However, don’t fool yourself into thinking that nothing could possibly go wrong and that everything will turn out exactly as you intended.

It’s all about taking chances while starting a business.

It is your obligation as an entrepreneur to identify these risks and create solutions to minimize them.

Putting these risks under the rug won’t make them go away.

Consider the dangers you’ll face when starting your business. Consider the “what ifs” and begin by considering the worst-case scenarios. Determine the worst-case scenario in the event that the company fails.

Consider the worst-case scenario to gain a sense of the dangers involved and whether you can handle them if and when they occur.

Determine how you’ll be able to overcome these worst circumstances.

Always remember that there is a way, you just have to look for it.

The process of creating a business will becomes less frightening once you’ve encountered your worst-case scenario.

10. Believe in yourself and in your business

Fear arises when you are uncertain, which causes you to doubt your own abilities and the value of your company.

You begin to wonder, “Can I do it?” or “Will my company idea work ?”.

Shake off your doubts, concentrate your thoughts, and believe that your company fulfils a need.

Your confidence in yourself and your business will rub off on others, causing them to become believers as well.

Follow the advice of the experts and put your priorities – or action, belief, and courage – into practice.

When all of these steps are followed and you are ready to start a business, then hiring would inevitably be part of your next to-do. Hiring passionate and strong employees is always necessary as part of your startup and early stage business growth.

To hire better and affordably, head over to 9cv9 Jobs Platform now.

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Joanna Graciela
Joanna Graciela
Joanna Graciela is as International Relations fresh graduate. Joanna is a content writer here at 9cv9 based in Indonesia. She writes about topics on business productivity to marketing strategy.

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