Jul 31, 2017
Entrepreneurship is unpredictable…
because it involves risks which bears unsure results. One cannot be confident about the fruit they’ll be able to reap from their actions in the course of business.
At the same time, running away is not the solution.
So, all entrepreneurs must learn to constantly deal simultaneously with both fear and possibility.
Here are 10 ways to help an entrepreneur overcome their fear:
1.Redefine your Fears: it allows you to push through your fears. Taking the road not taken, instead of the safer path motivates you and give you a competitive edge over others, which in turn make you more confident about yourself and your actions. This would also keep you from getting stuck and encourage you to take up bigger challenges.
2.Start Creating: rather than waiting for the big idea, to attain success, one should always keep on moving forward by creating and innovating new ways to carry out their activities. Every single drop contributes in the making of an ocean. Similarly, small but new and creative ideas would emerge into a big idea.
3.Uncertainty about the course of actions: most of the entrepreneurs are not aware about the ways by which they can achieve their defined goals, not only when first setting up but also during the course of their business. The answer to HOW is equally important as the answer to WHAT. Therefore, one should always devise out the techniques which would contribute to the achievement of their pre-defined goal.
4.Risk taking is a component of entrepreneurship and generally people who are willing to take risks are considered as crazy by the society. Often, many entrepreneurs fear what the people around them would think about them. And to encounter this fear and be successful at the same time, one should be sure about their actions despite of the opinion of the society, believe in your talents and also try convincing others about the same.
5.Imagine the Worst -Then Move On; fear is the companion of risk, and risk is the companion of success. The greater the risk, the greater is the fear and the greater is the success. While taking a risk, think about the worst case possible and be prepared to face it with all your strength. This way even if the risk betrays you at the end, you’ll be ready with either a backup plan or another risk to rule out the negative effects of the first one.
6.Lack of funds, is also a source of constant worry and panic among entrepreneurs. In such a strongly competitive era, finding an accurate source of funding is a challenge. Even if you don’t have the necessary capital at first, you’ll soon learn that a slow and steady process of building the business may be the best thing after all.
7.Inability to attract enough customers can also become a task for the entrepreneurs. One can easily encounter entrepreneurs who are afraid to portray and offer their skills to the world, wondering if they’ll be valued. But, on the other hand, if you approach your business with joy, consistently delivering what's promised, you'll undoubtedly experience a turn of the tide. In the meantime, work your marketing plan feverishly, study to increase your level of expertise and be kind to yourself because you've already made it further than most.
8.Insufficient earnings to recover an investment, if you happen to invest in your business and don’t see an immediate return, keep working. Should you quit before you earn a profit, you'll never earn a profit. And if you do decide to quit before your business sees a profit, remember that you raised the investment capital once. You can always do so again.
9.When everything goes wrong, it just provides you the opportunity to put the pins back and start again and give it all what it requires. Because it is in the blood of an entrepreneur to complete the game and not quit it. You surely have the potential to set everything right and back to track.
If you are considering taking the leap and becoming an entrepreneur, be prepared for hard work. Keep pushing forward and take any opportunity to give yourself a pat on the back to keep up your morale. Keep yourself motivated and you will surely be successful as an entrepreneur.
Hence, an entrepreneur would encounter the following fears but they should be ready to face it with courage and confidence:
1. Fear of risk and failure.
2. Fear of what others around you will say.
3. Fear it’s the wrong decision.
4. Fear you lack the experience or expertise.
5. Fear you will be financially ruined.
6. Fear it will consume your life.
If you allow fear to prevent you from pursuing your passion, you’ll always feel something is missing. And tackling your fears and coming out of them strong, is the essence of a successful entrepreneur.