Most of the fear in business comes from two sources: fear of failure and fear of the unknown. Every entrepreneur has experienced fear in one way or another. The difference is, the successful ones know how to overcome it.
Fear can hold you back, no matter what you are trying to achieve. But, when it comes to your business, fear can keep you from earning the money you want to earn and helping the people you want to help.
So, how do you overcome fear of failure or fear of the unknown?
Let’s look at 3 ways to help you conquer fear and move forward in your business and your life!
#1 - Do a Mindset Makeover
How do you react to fear? I know for me, my inclination is to shy away from things that I’m afraid of, especially in business. But, after 30 years of being an entrepreneur, I have learned that changing the way I think and react to fear has changed my bottom line. Changing your mindset is the key to overcoming fear.
Most of our fears are focused inward, in our thoughts. “I don’t have the knowledge”, “I can’t talk to people I don’t know”, “I’ve never had a business so I’m sure I will fail at it”, “I’ll never make any money”… We psyche ourselves out and literally convince ourselves internally that there is no way we can start or manage a business.
Most of these fears are rooted in total falsehood, but we let the thought fester and before we know it, we’re looking for employment. Besides, it is so much easier to just find a part-time job rather than try to make some extra money.
A simple shift in your thinking to focus outside of yourself will go a long way in changing your mindset and conquering fear. If you think about what you are giving up by not starting the business or the people you could be helping if your service or product hits the marketplace, you will find your mindset shifting.
To start this process, take a sheet of paper and make a list on one side of what you fear, i.e., talking to potential clients, networking events, etc. Now on the other side write what you will gain when you get your business started and it is successful, i.e., more money, freedom to make my own hours, freedom to determine the direction of my business, making new relationships, etc.
Once you finish truly looking at what you have to gain, you will find that starting your own business is not so scary.
#2 - Know Your Worth
I recently saw this quote that said “I am enough!” It resonated with me at the time I saw it because it truly described how I was feeling. Enough! Confident! Competent! I was feeling that no matter what came my way that day, I could handle it.
Knowing your self-worth, knowing that you are enough, is essential in overcoming fear in business. When we have doubt and are unsure of who we are, we tend to shrink away from the obstacles that come up in the course of building or starting our businesses and we let that fear overcome us. Before we know it, we’ve given up or we have downsized our goals and settled for something less.
How do you feel about yourself? Are you enough? If the answer is no, working on who you are and what you have to offer the marketplace will be essential as you start your business. To do this, you MUST begin a regimen of positive self-talk and speak inspiring and uplifting words to yourself regularly. Make a habit of speaking positive things to yourself when you go about your daily tasks. Find ways to compliment yourself for arriving somewhere on time, completing the smallest tasks, taking a bold step toward something you’ve avoided. Be your biggest cheerleader. You will find that your attitude about yourself will begin to change and you will have the strength and courage to conquer the fear that has previously sidelined you.
#3 - Take Massive Action
One of the surest ways to overcome fear is to take action. Facing your fear head-on is powerful and can assure your success. Several years ago, I experienced a huge business failure. It left me not only depressed and feeling inadequate, I was also scared to start anything else in terms of business. I even started going on job interviews because I felt it was safer to just get a job. I had been in business for myself for over 15 years but suddenly, I was afraid to risk it again. After moping around for several months, I made the decision to face my fears. I started 50Something Lifestyle a coaching and training business to help women over 50 gain the confidence to start a business. I began to work passionately to offer women over 50 resources to literally change their life. In one weekend, I created the company mission, vision and began the branding process. I mapped out my website and began planning the type of products I would offer. It was massive action and it paid off.
Today, I run my business with confidence and an assurance that I am in the right place at the right time.
If you are shying away from getting your business started or if your business isn’t growing at a rate that will help you achieve your goals, look at your fear meter. If fear is holding you back, take action and watch what happens.
These three tips are just a few of the ways to overcome fear in business. Try using these and others to fight fear and achieve your goals of a successful business.
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