Fears of starting a new business are expecting things. It can be very scary, especially if you need to give up something secure what you possess today, in order to start your business as something unsecure and uncertain. Feeling the fear is something that most of us can relate to. Before anybody starts their business, it’s normal to feel the fear of the unknown.
This process contain the risk of losing. It is very real if and when the business will not work as originally planned. But, on the other side, if you do the things in the right way, you will eliminate this risk.
So, here I want to share some things that you will need if you want to conquer your fears of starting a new business.
1. Start with the reasons why you feel the fears of starting a new business
As a first you will need to start with the simple question: Why you fear to start a business?
Is it uncertainty? Do you think that you will lose something if you quite with what you are doing now to start a new business tomorrow? Or maybe you over think about negative criticism of your closed environment?
Also think about questions that you have in your mind which make you feel fear to start a new business. For example, probably you already think about these questions:
- What if I fall?
- What if I don’t know how to do something about my new entrepreneurial journey?
- What if my products or services will not be accepted from my target market?
These questions are normal, especially when you want to change your career so drastically.
2. Do your homework, prepare yourself
Remember that this is a good thing. The fear you feel will actually prepare you for the success if you do your homework on the right way.
For example, if you do your market research as your homework before you start the business, you don’t need to fear that your products and services will not be accepted from the market. On the other hand, before you start doing something you cannot experience new things, increase your knowledge or overall competences.
Doing something, or better said, taking some first steps as your homework will give you enough encouragement that you need to take the second step. As, you move forward step by step the fear you feel at the beginning of the process will start disappearing.
Research is the biggest thing you can do to achieve success. If you are prepared, all of the things that will come during the start-up process can be easily handled because you already have a knowledge to find the right solution for the problem.
If you feel fear about possible negative criticism, remember that the criticism is a good thing when you want to start your own business.
Most people simply fall in love with their ideas. Sometimes they get blinded by their passion for their ideas. So, they don’t hear what others tell them. You need to validate your idea before you start doing anything else.
Simply, talk with some potential (target) customers about your idea. Connect the dots between their real problem and what your product or service will solve for them. If they think that your solution is not revolutionary, then you will need to improve your idea.
It is much easier to change things now, than to wait building your product or service to find that it is not something that people will want and buy.
This is how you should handle your feelings when you want to start your own business. Prepare yourself, do your homework.
3. Think about the benefits that you will gain
Even there are many uncertain things around something new, starting a new business will also give you many benefits. For example, think about following things:
- You will do something that you love to do if you base your business on your true passion;
- The earning potential can be really great;
- You will be able to make your own plans;
- You will control your own destiny;
- You will select people with whom you want to work;
- You will have constant challenges in your professional life.
You can also think about missed opportunities, or what you will lose if you don’t start working on your startup today, or tomorrow. In many cases the fear of not starting your business can outweigh any fear of failure. Human beings are more scared of what they could miss out if they don’t take specific steps.
So, answer following question: What will be missed opportunities that you might have if you don’t take those first steps to start a business?
4. Everyone fails, failure is a learning possibility
Understand that everyone fails. The only people who don’t fail are those who never take something, or do something. You will not fail if you don’t take the risk.
Many successful business owners have already failed, not once, but many times before they reach the first success. You really need to remember this: most successful entrepreneurs have failed. When they fail, they learn something new, they experience new things. With knew knowledge and experience, they can simply improve their next steps.
5. Complement your weakness with other persons
It doesn’t mean that you will need to start alone on your entrepreneurial journey. If you want to overcome the fear of not enough experience, you can find someone experienced to become your partner on the journey.
In such a way you will share not only experience, but all other gains and losses.
You will need a business partner that specializes in things that you don’t know.
This is a good strategy if the fear really stops you to move forward to become an entrepreneur.
6. Take small steps to your success
Starting a new business is a big project with big goals. The big projects and big goals will require big steps. But, many times you will not have time to get everything done. As you see, you will have to do your own homework to prepare yourself and validate your idea. These are the primary things for you now.
Don’t stuck to not take these first steps because you’re afraid you won’t do enough. Simply, start small and take an incremental step by step. You will remove the pressure from your head, and start accomplishing one small thing every day. Day after day.
When the task you chose to do today is so small, almost meaningless, your subconscious mind will not push the resistance to do it. Such steps aren’t considered as a threat for your subconscious mind. But, after several days or weeks, these small steps will start bringing small success. When you start feeling the success of achievements, your subconscious mind will start enjoying the things you are doing. So, it will start wanting more and pushing you to more.
These small steps, and resulting small achievement of small success, over time will bring you close to your big goals and achievements of your big projects. It is important to start doing things, so your confidence will increase, and the fear will disappear.
This is called Kaizen philosophy. Kaizen is a Japanese term that simply means improvement, coming from the manufacturing sector. It is a process of making continuous small improvements, rather than taking giant steps toward the goal you want to achieve.
To implement this process, you can start with the following steps:
- Select one important thing you need to do in the next period of a week or two. It can be doing your market research, talking with 5 potential customers from your target market to validate your idea and so on. Just pick one thing for now. Remember that Kaizen is a continuous process.
- Break down the selected thing you want to do in the smallest possible steps you can take on a daily basis. What is the very smallest daily action you can take to bring you closer to your goal? Let it be really small, that you can do easily without losing too much time.
- Schedule these steps to be implemented in the next week or two. Open your to-do list schedule your small daily actions for next week or two.
- After a week or two, measure your achievement and repeat the whole process again. When you accomplish everything you have scheduled from the previous step, it is time to measure your achievements. How much closer you come to your goals. When you see that you move forward, day by day, week by week, your self-confidence will rise, and the fear will start disappearing.
These are some important things that will help you to overcome a fear of starting a new business. But, it is up to you. You need to start doing things. Stop dreaming, and start doing. I believe that you will succeed.